Peru - Economy
How is the economy of Peru? Based on the information we have, Peru has a upper middle-income South American economy; hit hard by political instability and COVID-19 but rebounding quickly; second-largest cocaine producer; current account balance improving; persistent income inequality; diversified exporter. Key agricultural products in this country include: sugarcane, potatoes, rice, bananas, milk, chicken, maize, oil palm fruit, cassava, grapes (2022).
More about the economy of Peru
| Labor force | 18.529 million (2023 est.) |
|---|---|
| Industrial production growth rate | -1.28% (2023 est.) |
| Industries | mining and refining of minerals; steel, metal fabrication; petroleum extraction and refining, natural gas and natural gas liquefaction; fishing and fish processing, cement, glass, textiles, clothing, food processing, beer, soft drinks, rubber, machinery, electrical machinery, chemicals, furniture |
| Population below poverty line | 27.5% (2022 est.) |
| Taxes and other revenues | 15.92% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | nuevo sol (PEN) per US dollar - |
| Exchange rates 2023 | 3.744 (2023 est.) |
| Exchange rates 2022 | 3.835 (2022 est.) |
| Exchange rates 2021 | 3.881 (2021 est.) |
| Exchange rates 2020 | 3.495 (2020 est.) |
| Exchange rates 2019 | 3.337 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $81.333 billion (2019 est.) |
| Debt - external 2018 | $75.467 billion (2018 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $71.394 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $72.328 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $78.59 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $2.219 billion (2023 est.) |
| Current account balance 2022 | -$9.743 billion (2022 est.) |
| Current account balance 2021 | -$4.674 billion (2021 est.) |
| Public debt | |
| Public debt 2021 | 35.25% of GDP (2021 est.) |
| Budget | |
| Revenues | $45.983 billion (2019 est.) |
| Expenditures | $49.134 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 1.58% of GDP (2023 est.) |
| Remittances 2022 | 1.5% of GDP (2022 est.) |
| Remittances 2021 | 1.59% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.1% (2022 est.) |
| Highest 10% | 30.7% (2022 est.) |
| Average household expenditures | |
| On food | 26.6% of household expenditures (2021 est.) |
| On alcohol and tobacco | 2.4% of household expenditures (2021 est.) |
| Imports | |
| Imports 2023 | $62.99 billion (2023 est.) |
| Imports 2022 | $69.44 billion (2022 est.) |
| Imports 2021 | $58.509 billion (2021 est.) |
| Imports (partners) | China 27%, US 24%, Brazil 6%, Argentina 4%, Chile 3% (2022) |
| Comodities Imports force | refined petroleum, crude petroleum, cars, broadcasting equipment, trucks (2022) |
| Exports | |
| Imports 2023 | $62.99 billion (2023 est.) |
| Imports 2022 | $69.44 billion (2022 est.) |
| Imports 2021 | $58.509 billion (2021 est.) |
| Exports (partners) | China 30%, US 15%, Japan 5%, Canada 5%, South Korea 4% (2022) |
| Comodities Exports force | copper ore, gold, natural gas, refined copper, refined petroleum (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $517.644 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $520.507 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $506.697 billion (2021 est.) |
| GDP (official exchange rate) | $267.603 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $15,100 (2023 est.) |
| Real GDP per capita 2022 | $15,300 (2022 est.) |
| Real GDP per capita 2021 | $15,000 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 7.6% (2017 est.) |
| Industry | 32.7% (2017 est.) |
| Services | 59.9% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 64.9% (2017 est.) |
| Government consumption | 11.7% (2017 est.) |
| Investment in fixed capital | 21.7% (2017 est.) |
| Investment in inventories | -0.2% (2017 est.) |
| Exports of goods and services | 24% (2017 est.) |
| Imports of goods and services | -22% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 4.82% (2023 est.) |
| Unemployment rate 2022 | 3.85% (2022 est.) |
| Unemployment rate 2021 | 5.1% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 8.8% (2023 est.) |
| Male | 7.8% (2023 est.) |
| Female | 10% (2023 est.) |
All Important Facts about Peru
Want to know more about Peru? Check all different factbooks for Peru below.
