Economy Of Peru - Peru Information

Translation Services » Country Guides O - Z » Peru

Choose the first letter to select required country:

Economy Of Peru
Peru Information - Country Guides

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. However, overdependence on minerals and metals subjects the economy to fluctuations in world prices, and a lack of infrastructure deters trade and investment. After several years of inconsistent economic performance, the Peruvian economy was one of the fastest growing in Latin America in 2002 and 2003, growing by 5% and 4%, respectively, with the exchange rate stable and an annual inflation lower than 2%. Foreign direct investment also was strong, thanks to the ongoing Camisea natural gas pipeline project (scheduled to begin operations in 2004) and investments in gold mining. Risk premiums on Peruvian bonds on secondary markets reached historically low levels in late 2003, reflecting investor optimism and the government's fiscal restraint. Despite the strong macroeconomic performance, political intrigue and allegations of corruption continued to swirl in 2003, with the TOLEDO administration growing increasingly unpopular, and local and foreign concern rising that the political turmoil could place the country's hard-won fiscal and financial stability at risk. Moreover, as of late 2003, unemployment had yet to respond to the strong growth in economic activity, owing in part to rigid labor market regulations that act as an impediment to hiring.
GDP	purchasing power parity - $146 billion (2004 est.)
GDP - real growth rate	4% (2004 est.)
GDP - per capita	purchasing power parity - $5,100 (2004 est.)
GDP - composition by sector	agriculture: 8% industry: 27% services: 65% (2003 est.)
Investment gross fixed	17.7% of GDP (2004 est.)
Population below poverty line	54% (2003 est.)
Household income or consumption by percentage share	lowest 10%: 1.6% highest 10%: 35.4% (1996)
Distribution of family income - Gini index	46.2 (1996)
Inflation rate consumer prices	2.3% (2004 est.)
Labor force	8.63 million (2004 est.)
Labor force by occupation	agriculture 5.9%, mining and quarrying 0.4%, manufacturing 12.6%, construction 5.3%, commerce 26.3%, household work 4.9%, other services 44.6% (2004)
Unemployment rate	9.7%; widespread underemployment (2004 est.)
Budget	revenues: $15.86 billion expenditures: $17.05 billion, including capital expenditures of $1.6 billion (2004 est.)
Public debt	49.2% of GDP (2004 est.)
Agriculture products	coffee, cotton, sugarcane, rice, wheat, potatoes, corn, plantains, coca; poultry, beef, dairy products, wool; fish
Industries	mining of metals, petroleum, fishing, textiles, clothing, food processing, cement, auto assembly, steel, shipbuilding, metal fabrication
Industrial production growth rate	2% (2004 est.)
Electricity production	20.59 billion kWh (2001)
Electricity production by source	fossil fuel: 14.5% hydro: 84.7% other: 0.8% (2001) nuclear: 0%
Electricity consumption	19.15 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	95,100 bbl/day (2004 est.)
Oil consumption	161,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	614.7 million bbl (2004)
Natural gas production	370 million cu m (2001 est.)
Natural gas consumption	370 million cu m (2001 est.)
Natural gas exports	0 cu m (2001 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	245.1 billion cu m (2004)
Current account balance	$-1.116 billion (2004 est.)
Exports	$8.954 billion f.o.b. (2004 est.)
Exports commodities	fish and fish products, gold, copper, zinc, crude petroleum and byproducts, lead, coffee, sugar, cotton
Exports partners	US 27.1%, UK 12.4%, China 7.7%, Switzerland 7.6%, Chile 4.7%, Japan 4.4% (2003)
Imports	$8.244 billion f.o.b. (2003 est.)
Imports commodities	machinery, transport equipment, foodstuffs, petroleum, iron and steel, chemicals, pharmaceuticals
Imports partners	US 28.6%, Spain 10%, Chile 7.5%, Brazil 5.1%, Colombia 4.5% (2003)
Reserves of foreign exchange gold	$10.24 billion (2004 est.)
Debt external	$29.95 billion (2004 est.)
Economic aid recipient	$895.1 million (1995)
Currency	nuevo sol (PEN)
Currency code	PEN
Exchange rates	nuevo sol per US dollar - 3.4785 (2003), 3.5165 (2002), 3.5068 (2001), 3.49 (2000), 3.3833 (1999)
Fiscal year	calendar year

Peruvian Flag Map Of Peru Quechua language

Economy Of PeruPeru Information - Country Guides

Economy Of Peru
Peru Information - Country Guides