Gold, copper ore, petroleum, zinc Ore, travel and tourism, transport, insurance and finance, grapes, coffee, fish oils, fresh fruits and textiles are major industries of Peru.
In 2017, Services industry exports was valued at USD 7.01 billion for Peru. Chemicals export accounted for USD 1.34 billion, metals for USD 3.56 billion, minerals for USD 21.5 billion, stone for USD 5.40 billion, textiles for USD 1.31 billion and agriculture for USD 9.91 billion in 2017.
Peru is a country of desserts, beautiful mountains and huge forests, with its capital city Lima., Peru is the third largest and the fourth most populated country in South America (after Brazil, Colombia and Argentina). It is usually divided into three natural regions, the Coast, the Highlands and the Jungle. Peru got its UN membership date on 31st October 1945. The Peruvian economy has experienced two distinct phases of economic development since the turn of the century. Between 2002 and 2013, Peru was one of the fastest-growing countries in Latin America, with an average GDP growth rate of 6.1 percent annually.
Peru will have estimated population of 32.824 million in the year 2019 and expected to reach 34.103 million by 2024. Peru’s 6.579% of total labor force is expected to be unemployed in 2019, which is further expected to reach to 6.5% of total labor force by 2024.
Peru’s GDP deflator is expected to be around 141.558 Per capita GDP in 2019, whereas purchasing power parity (PPP) based per capita GDP is estimated to be at USD 14892.19. In 2019, Peru government’s revenue is expected to be at sol 154.566 billion whereas the expenditure is expected to be at sol 169.408 billion. This will result in Peru government’s net lending / borrowing negative at sol 14.842 billion in 2019 indicating negative and adverse situation of the economy.
The current account balance for Peru is estimated to be negative at sol 1.411 billion in the year 2019 which indicates negative scenario for the economy. It is expected that in coming years the situation will remain same. The government net debt is also expected to grow to sol 137.655 billion till 2024 from sol 91.453 billion from 2019. This indicates the weak economic condition of Peru.
In World Bank’s ease of doing business ranking Peru was ranked 76 out of 190 countries in 2019. Peru’s ease of doing business ranking has declined from 68th position in 2018.
*If Applicable.