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Peru - Economy
How is the economy of Peru? Based on the information we have, Peru has a <p>upper-middle-income South American economy; strong post-COVID rebound tempered by political uncertainty and climate risks; exports driven by mineral extraction and agriculture; large informal sector and uneven access to public services; stable fiscal position and financial sector</p>. Key agricultural products in this country include: sugarcane, potatoes, rice, bananas, milk, maize, chicken, oil palm fruit, cassava, grapes (2023).
More about the economy of Peru
| Labor force | 18.918 million (2024 est.) |
|---|---|
| Industrial production growth rate | 3.1% (2024 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 | 15.9% (of GDP) (2021 est.) |
| Fiscal year | N/A |
| 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 2023 | $38.102 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $79.246 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $71.394 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $72.328 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $6.39 billion (2024 est.) |
| Current account balance 2023 | $881.934 million (2023 est.) |
| Current account balance 2022 | -$9.972 billion (2022 est.) |
| Public debt | |
| Public debt 2021 | 35.2% of GDP (2021 est.) |
| Budget | |
| Revenues | $48.003 billion (2021 est.) |
| Expenditures | $55.34 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | N/A |
| Remittances | |
| Remittances 2023 | 1.7% of GDP (2023 est.) |
| Remittances 2022 | 1.5% of GDP (2022 est.) |
| Remittances 2021 | 1.6% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2% (2023 est.) |
| Highest 10% | 30.6% (2023 est.) |
| Average household expenditures | |
| On food | 26.9% of household expenditures (2023 est.) |
| On alcohol and tobacco | 2.5% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $67.16 billion (2024 est.) |
| Imports 2023 | $63.776 billion (2023 est.) |
| Imports 2022 | $69.936 billion (2022 est.) |
| Imports (partners) | China 26%, USA 21%, Brazil 7%, Argentina 5%, Mexico 3% (2023) |
| Comodities Imports force | refined petroleum, crude petroleum, cars, trucks, broadcasting equipment (2023) |
| Exports | |
| Exports 2024 | $83.325 billion (2024 est.) |
| Exports 2023 | $72.97 billion (2023 est.) |
| Exports 2022 | $71.39 billion (2022 est.) |
| Exports (partners) | China 34%, USA 14%, Canada 5%, India 4%, Switzerland 4% (2023) |
| Comodities Exports force | copper ore, gold, refined copper, refined petroleum, grapes (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $535.911 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $518.771 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $520.872 billion (2022 est.) |
| GDP (official exchange rate) | $289.222 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $15,700 (2024 est.) |
| Real GDP per capita 2023 | $15,300 (2023 est.) |
| Real GDP per capita 2022 | $15,600 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 6.1% (2024 est.) |
| Industry | 32.2% (2024 est.) |
| Services | 52.7% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 61.6% (2024 est.) |
| Government consumption | 13.4% (2024 est.) |
| Investment in fixed capital | 20.8% (2024 est.) |
| Investment in inventories | -1.4% (2024 est.) |
| Exports of goods and services | 28.5% (2024 est.) |
| Imports of goods and services | -22.9% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 4.9% (2024 est.) |
| Unemployment rate 2023 | 4.9% (2023 est.) |
| Unemployment rate 2022 | 3.9% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 8.8% (2024 est.) |
| Male | 7.9% (2024 est.) |
| Female | 9.8% (2024 est.) |
All Important Facts about Peru
Want to know more about Peru? Check all different factbooks for Peru below.
