Navigating Uncertainty: Q&A with Julio Velarde, Central Bank Governor Of Peru
Julio Velarde, central bank governor of Peru, speaks about how the central bank can support Peru’s economy in this time of financial uncertainty.
Peru GDP and Economic Data
Includes Peru real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Peru economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Peru best banks and safest banks are also available.
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International Reserves
USD 59.7 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
GDP (Purchasing Power Parity)
Intl$ 457.5 billion (2018, estimate)
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Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 8.5% | 9.1% | 1% | 8.5% | 6.5% | 6% | 5.8% |
| 2014 | 2015 | 2016 | 2017 | 2018* | ||
| 2.4% | 3.3% | 4% | 2.5% | 4% |
*Estimate
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GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.42% | 0.27% | 0.28% | 0.33% | 0.34% |
*Estimate
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GDP - composition by sector
- agriculture: 6.7%
- industry: 31.2%
- services: 54.1%
(2017 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 3.5% | 3.6% | 2.8% | 1.3% | 2.2% |
*Estimate
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Unemployment rate
| 2015 | 2016 | 2017* | 2018* | 2019* |
| 6.5% | 6.7% | 6.9% | 6.7% | 6.7% |
*Estimate
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Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 24.1% | 24.5% | 25.4% | 26.2% | 26.9% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -2.1% | -2.3% | -2.9% | -2% | -1.5% |
*Estimate
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Government bond ratings
Standard & Poor's: BBB+
Moody's: A3
Standard & Poor's / Moody's
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Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 81.1 billion | USD 99.2 billion | USD 93.4 billion |
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Current account balance by percentage of GDP
-1.6 % (2018 estimate)
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Exports as percent of GDP (Exports of goods and services)
25.2% (2018)
Shares in world total merchandising export
0.25% (2018)
Shares in world total commercial services export
0.12% (2018)
Export commodities
Copper, gold, lead, zinc, tin, iron ore, molybdenum, silver; crude petroleum and petroleum products, natural gas; coffee, asparagus and other vegetables, fruit, apparel and textiles, fishmeal, fish, chemicals, fabricated metal products and machinery, alloys
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Import commodities
Petroleum and petroleum products, chemicals, plastics, machinery, vehicles, tv sets, power shovels, front-end loaders, telephones and telecommunication equipment, iron and steel, wheat, corn, soybean products, paper, cotton, vaccines and medicines
Exports - major partners
China 26.5%, US 15.2%, Switzerland 5.2%, South Korea 4.4%, Spain 4.1%, India 4.1% (2017)
Imports - major partners
China 22.3%, US 20.1%, Brazil 6%, Mexico 4.4% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 6,863 million |
USD 6,769 million |
USD 6,175 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 1,156 million | USD 500 million | USD 19 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 178 million | USD -6 million | N/A | USD 21 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
76 out of 190 countries
Subcategories:
Starting a Business: 133 out of 190 countries
Dealing with Construction Permits: 65 out of 190 countries
Getting Electricity: 88 out of 190 countries
Registering Property: 55 out of 190 countries
Getting Credit: 37 out of 190 countries
Protecting Minority Investors: 45 out of 190 countries
Paying Taxes: 121 out of 190 countries
Trading across Borders: 102 out of 190 countries
Enforcing Contracts: 83 out of 190 countries
Resolving Insolvency: 90 out of 190 countries
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Global competitiveness ranking
65 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 45 / Score: 67.8 (Moderately free)
(100=totally free 0=totally repressed)
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Languages
Spanish (official) 82.9%, Quechua (official) 13.6%, Aymara (official) 1.6%, Ashaninka 0.3%, other native languages (includes a large number of minor Amazonian languages) 0.8%, other (includes foreign languages and sign language) 0.2%, none .1%, unspecifie
Religions
Roman Catholic 60%, Christian 14.6% (includes evangelical 11.1%, other 3.5%), other .3%, none 4%, unspecified 21.1% (2017 est.)
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 21.77 million | 25.98 million | 29.46 million | 31.15 million | 32.82 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 46.8% | 64.6% | 73% | 77.9% |
Literacy
Total population: 94.2%
Male: 97.2%
Female: 91.2%
Definition: age 15 and over can read and write (2016 est.)
% of population living on less than $3.10 a day
9.8% (last available estimate, 2017)
Inequality of wealth distribution (Gini index)
43.3 (last available estimate, 2017)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Free
Political Rights: 2
Civil Liberties: 3 (2019)
(1 represents the most free, 7 the least free rating)
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Total telephone subscribers as % of population
Fixed: 9.8% Mobile: 123.8% (2017) (
fixed-telephone subscribers and mobile-cellular subscribers)