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    Peru Economy - 1990
    https://theodora.com/wfb1990/peru/peru_economy.html
    SOURCE: 1990 CIA WORLD FACTBOOK

      Overview: The economy is verging on hyperinflation and economic activity is contracting rapidly. Deficit spending is at the root of domestic economic problems, but poor relations with international lenders--the result of curtailing debt payments since 1985--are preventing an inflow of funds to generate a recovery. Reduced standards of living have increased labor tensions, and strikes, particularly in the key mining sector, have cut production and exports. Foreign exchange shortages have forced reductions in vital consumer imports such as food and industrial inputs. Peru is the world's leading producer of coca, from which the drug cocaine is produced.

      GDP: $18.9 billion, per capita $880; real growth rate - 12.2% (1989 est.)

      Inflation rate (consumer prices): 2,775% (1989)

      Unemployment rate: 15.0%; underemployment estimated at 60% (1989)

      Budget: revenues $3.2 billion; expenditures $3.7 billion, including capital expenditures of $796 million (1986)

      Exports: $3.55 billion (f.o.b., 1989); commodities--fishmeal, cotton, sugar, coffee, copper, iron ore, refined silver, lead, zinc, crude petroleum and byproducts; partners--EC 22%, US 20%, Japan 11%, Latin America 8%, USSR 4%

      Imports: $2.50 billion (f.o.b., 1989); commodities--foodstuffs, machinery, transport equipment, iron and steel semimanufactures, chemicals, pharmaceuticals; partners--US 23%, Latin America 16%, EC 12%, Japan 7%, Switzerland 3%

      External debt: $17.7 billion (December 1989)

      Industrial production: growth rate - 25.0% (1988 est.)

      Electricity: 4,867,000 kW capacity; 15,540 million kWh produced, 725 kWh per capita (1989)

      Industries: mining of metals, petroleum, fishing, textiles, clothing, food processing, cement, auto assembly, steel, shipbuilding, metal fabrication

      Agriculture: accounts for 12% of GDP, 37% of labor force; commercial crops--coffee, cotton, sugarcane; other crops--rice, wheat, potatoes, plantains, coca; animal products--poultry, red meats, dairy, wool; not self-sufficient in grain or vegetable oil; fish catch of 4.6 million metric tons (1987), world's fifth-largest

      Illicit drugs: world's largest coca producer and source of supply for coca paste and cocaine base; about 85% of cultivation is for illicit production; most of coca base is shipped to Colombian drug dealers for processing into cocaine for the international drug market

      Aid: US commitments, including Ex-Im (FY70-88), $1.6 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $3.7 billion; Communist countries (1970-88), $577 million

      Currency: inti (plural--intis); 1 inti (I/) = 1,000 soles

      Exchange rates: intis (I/) per US$1--5,261.40 (December 1989), 128.83 (1988), 16.84 (1987), 13.95 (1986), 10.97 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Peru on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Peru Economy 1990 information contained here. All suggestions for corrections of any errors about Peru Economy 1990 should be addressed to the CIA.

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    https://theodora.com/wfb1990/peru/peru_economy.html

    Revised 07-Feb-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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