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Peru Economy 2011
https://theodora.com/wfb2011/peru/peru_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 13, 2011

Economy - overview:
Peru's economy reflects its varied geography - an arid coastal region, the Andes further inland, and tropical lands bordering Colombia and Brazil. Abundant mineral resources are found in the mountainous areas, and Peru's coastal waters provide excellent fishing grounds. The Peruvian economy grew by more than 4% per year during the period 2002-06, with a stable exchange rate and low inflation. Growth jumped to 9% per year in 2007 and 2008, driven by higher world prices for minerals and metals and the government's aggressive trade liberalization strategies, but then fell to less than 1% in 2009 in the face of the world recession and lower commodity export prices. Growth resumed in 2010 at nearly 8%, due partly to increased exports. Peru's rapid expansion has helped to reduce the national poverty rate by about 15% since 2002, though underemployment remains high; inflation has trended downward in 2009, to below the Central Bank's 1-3% target. Despite Peru's strong macroeconomic performance, overdependence on minerals and metals subjects the economy to fluctuations in world prices, and poor infrastructure precludes the spread of growth to Peru's non-coastal areas. Not all Peruvians therefore have shared in the benefits of growth and despite President GARCIA's pursuit of sound trade and macroeconomic policies, persistent inequality has cost him political support. Nevertheless, he remains committed to Peru's free-trade path. Since 2006, Peru has signed trade deals with the United States, Canada, Singapore, and China, concluded negotiations with the European Union, and begun trade talks with Korea, Japan, and others. The US-Peru Trade Promotion Agreement (PTPA) entered into force 1 February 2009, opening the way to greater trade and investment between the two economies.

GDP (purchasing power parity):
$274.7 billion (2010 est.)
country comparison to the world: 44

$254.8 billion (2009 est.)
$252.5 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$153.5 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.8% (2010 est.)
country comparison to the world: 13

0.9% (2009 est.)
9.8% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,200 (2010 est.)
country comparison to the world: 116

$8,600 (2009 est.)
$8,700 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 5.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 33%
[see also: GDP - composition by sector - industry country ranks ]
services: 52.6% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
10.58 million (2009 est.)
country comparison to the world: 47
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 0.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 23.8%
[see also: Labor force - by occupation - industry country ranks ]
services: 75.5% (2005)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
6.7% (2010 est.)
country comparison to the world: 65

8.1% (2009 est.)
note: data are for metropolitan Lima; widespread underemployment
[see also: Unemployment rate country ranks ]

Population below poverty line:
34.8% (2006)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 37.9% (2006)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
49.6 (2009)
country comparison to the world: 26

46.2 (1996)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
25.1% of GDP (2009 est.)
country comparison to the world: 44
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $44.91 billion
[see also: Budget - revenues country ranks ]
expenditures: $47.04 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
23.6% of GDP (2010 est.)
country comparison to the world: 102

25% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
1.8% (2010 est.)
country comparison to the world: 51

2.9% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.7% (31 December 2010 est.)
country comparison to the world: 57

7.25% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
21.04% (31 December 2009 est.)
country comparison to the world: 11

23.67% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$20.53 billion (31 December 2010 est)

$16.77 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$55.2 billion (31 December 2010 est.)

$43.57 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$28.9 billion (31 December 2010 est.)
country comparison to the world: 69

$23.37 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$69.75 billion (31 December 2009)
country comparison to the world: 48

$55.63 billion (31 December 2008)
$106 billion (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
asparagus, coffee, cocoa, cotton, sugarcane, rice, potatoes, corn, plantains, grapes, oranges, pineapples, guavas, bananas, apples, lemons, pears, coca, tomatoes, mango, barley, medicinal plants, palm oil, marigold, onion, wheat, dry beans; poultry, beef, dairy products; fish; guinea pigs

Industries:
mining and refining of minerals; steel, metal fabrication; petroleum extraction and refining, natural gas; fishing and fish processing, textiles, clothing, food processing

Industrial production growth rate:
8.5% (2009 est.)
country comparison to the world: 23
[see also: Industrial production growth rate country ranks ]

Electricity - production:
30.57 billion kWh (2008 est.)
country comparison to the world: 62
[see also: Electricity - production country ranks ]

Electricity - consumption:
28.97 billion kWh (2008 est.)
country comparison to the world: 60
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
148,000 bbl/day (2009 est.)
country comparison to the world: 46
[see also: Oil - production country ranks ]

Oil - consumption:
157,000 bbl/day (2009 est.)
country comparison to the world: 65
[see also: Oil - consumption country ranks ]

Oil - exports:
68,640 bbl/day (2007 est.)
country comparison to the world: 75
[see also: Oil - exports country ranks ]

Oil - imports:
133,100 bbl/day (2007 est.)
country comparison to the world: 59
[see also: Oil - imports country ranks ]

Oil - proved reserves:
470.8 million bbl (1 January 2010 est.)
country comparison to the world: 47
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
3.39 billion cu m (2008 est.)
country comparison to the world: 51
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
3.39 billion cu m (2008 est.)
country comparison to the world: 69
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
NA
note: in 2010 Peru became a net exporter of LNG (2008 est.)
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 146
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
334.1 billion cu m (1 January 2010 est.)
country comparison to the world: 39
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$333 million (2010 est.)
country comparison to the world: 102

$246.3 million (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$33.73 billion (2010 est.)
country comparison to the world: 61

$26.88 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
copper, gold, zinc, crude petroleum and petroleum products, coffee, potatoes, asparagus, textiles, fishmeal

Exports - partners:
US 17.86%, China 15.96%, Canada 11.35%, Japan 6.75%, Chile 5.42%, Germany 4.25% (2009)

Imports:
$25.74 billion (2010 est.)
country comparison to the world: 63

$21.01 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
petroleum and petroleum products, plastics, machinery, vehicles, iron and steel, wheat, paper

Imports - partners:
US 23.96%, China 10.74%, Ecuador 7.25%, Brazil 7.19%, Chile 5.68%, Argentina 5.59%, Mexico 5.02% (2009)

Reserves of foreign exchange and gold:
$37.27 billion (31 December 2010 est.)
country comparison to the world: 31

$33.23 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$33.29 billion (31 December 2010 est.)
country comparison to the world: 63

$30.51 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$43.47 billion (31 December 2010 est.)
country comparison to the world: 56

$36.91 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$2.12 billion (31 December 2010 est.)
country comparison to the world: 66

$1.88 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
nuevo sol (PEN) per US dollar - 2.8178 (2010), 3.0115 (2009), 2.91 (2008), 3.1731 (2007), 3.2742 (2006)


NOTE: The information regarding Peru on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Peru Economy 2011 information contained here. All suggestions for corrections of any errors about Peru Economy 2011 should be addressed to the CIA.



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This page was last modified 09-Feb-11
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