Flag Peru

Econ Complexity (2018): -0.6, Rank 94 of 137

Product Exports (2018): $48.5B, Rank 53 of 222

Exports Per Capita (2018): $1.52k, Rank 175 of 219

Product Imports (2018): $41B, Rank 57 of 221

Imports Per Capita (2018): $1.28k, Rank 200 of 219

Service Exports (2018): $7.36B, Rank 36 of 88

Service Imports (2018): $9.9B, Rank 35 of 88

GDP (2018): $222B, CURRENT US$
Rank 49 of 196

GDP growth (2008 - 2018): 84.2%, CURRENT US$
Rank 45 of 196

GDP PC (2018): $6,941, CURRENT US$
Rank 95 of 196

GDP PC GROWTH (2008 - 2018): 64.5%, CURRENT US$
Rank 32 of 196

Overview: In 2018 Peru was the number 49 economy in the world in terms of GDP (current US$), the number 53 in total exports, the number 57 in total imports, and the number 94 most complex economy according to the Economic Complexity Index (ECI). In 2018, Peru exported $48.5B and imported $41B, resulting in a positive trade balance of $7.45B. In 2018, Peru's exports per capita were $1.52k and its imports per capita were $1.28k.

Trade: The top exports of Peru are Copper Ore ($13B), Gold ($7.08B), Refined Petroleum ($2.83B), Zinc Ore ($2.2B), and Refined Copper ($1.85B). The top imports of Peru are Refined Petroleum ($3.54B), Crude Petroleum ($2.25B), Cars ($1.49B), Broadcasting Equipment ($1.22B), and Delivery Trucks ($855M).

Destinations: Peru exports mostly to China ($13.3B), United States ($8.02B), India ($2.49B), South Korea ($2.47B), and Japan ($2.18B), and imports mostly from China ($9.28B), United States ($9.25B), Brazil ($2.19B), Mexico ($1.81B), and Chile ($1.71B).

Location: Peru borders Bolivia, Brazil, Chile, Colombia, and Ecuador by land and Costa Rica by sea.

Product Exports

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Value

Top Export (2018): Copper Ore, $13B

Top Destination (2018): China, $13.3B

In 2018 Peru exported a total of $48.5B, making it the number 53 exporter in the world. During the last five reported years the exports of Peru have changed by $3.9B from $44.6B in 2013 to $48.5B in 2018.

The most recent exports are led by Copper Ore ($13B), Gold ($7.08B), Refined Petroleum ($2.83B), Zinc Ore ($2.2B), and Refined Copper ($1.85B). The most common destination for the exports of Peru are China ($13.3B), United States ($8.02B), India ($2.49B), South Korea ($2.47B), and Japan ($2.18B).

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Product Imports

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Value

Top Import (2018): Refined Petroleum, $3.54B

Top Origin (2018): China, $9.28B

In 2018 Peru imported $41B, making it the number 57 trade destination in the world. During the last five reported years the imports of Peru changed by -$2.42B from $43.5B in 2013 to $41B in 2018.

The most recent imports of Peru are led by Refined Petroleum ($3.54B), Crude Petroleum ($2.25B), Cars ($1.49B), Broadcasting Equipment ($1.22B), and Delivery Trucks ($855M). The most common import partners for Peru are China ($9.28B), United States ($9.25B), Brazil ($2.19B), Mexico ($1.81B), and Chile ($1.71B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Peru Exports Services (2018): $7.36B

Peru Imports Services (2018): $9.9B

In 2018, Peru exported $7.36B worth of services. The top services exported by Peru in 2018 were Personal travel ($3.95B), Transportation ($1.61B), Other business services ($687M), Insurance services ($681M), and Government services, n.i.e. ($166M).

The top services imported by Peru in 2018 were Transportation ($2.91B), Personal travel ($2.67B), Other business services ($1.62B), Insurance services ($1.05B), and Computer and information services ($862M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Peru. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Peru are Automatic washing machines, of a dry capacity < 10 kg (11%) and Babies garments, accessories of cotton, knit (11%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Peru are:
23: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
38: AAP.CE N° 38 Acuerdo de Complementación Económica N° 38 Suscrito entre la República de Chile y la República del Perú
46: AAP.CE N° 50 Acuerdo de Complementación Económica N° 50 Celebrado entre la República de Cuba y la República del Perú
60: AAP.CE N° 58 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay y Perú
69: AAP.CE Nº 67 Acuerdo de integración Comercial entre los Estados Unidos Mexicanos y la República del Perú
79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)
83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
178: Preferential tariff for Canada
182: Preferential tariff for Chile
184: Preferential tariff for China
189: Preferential tariff for Colombia
192: Preferential tariff for Costa Rica
220: Preferential tariff for European Union countries (SAA) Stabilisation and Association Agreement
233: Preferential tariff for Honduras
238: Preferential tariff for Iceland
246: Preferential tariff for Japan
249: Preferential tariff for Korea, Republic of
270: Preferential tariff for Mexico
281: Preferential tariff for Norway
285: Preferential tariff for Panama
299: Preferential tariff for Singapore
307: Preferential tariff for Switzerland and Liechtenstein
309: Preferential tariff for Thailand
311: Preferential tariff for The Andean Community ( Spanish: Comunidad Andina, CAN)
328: Preferential tariff for United States
332: Preferential tariff for Venezuela

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Peru's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨69th to the 94th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Most Specialized Products by RCA Index

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Peru has a high level of specialization in Animal Meal and Pellets (87), Copper Ore (76.8), Fish Oil (71.3), Lead Ore (67.9), and Zinc Ore (59.3). Specialization is measured using RCA, an index that takes the ratio between Peru observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Peru according to the product complexity index (PCI) are Chenille, loop whale, gimped (except metallised) yarn (0.64), Slide fasteners and parts thereof (0.57), Yarn of combed wool, not retail (0.55), Wire, rod,etc of base metal, carbide for welding etc (0.54), and Printed matter nes, catalogues, pictures and photos (0.51). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Peru according to the relatedness index, are Insect Resins (0.2), Raw Cotton (0.2), Manganese Ore (0.2), Crude Petroleum (0.2), and Tin Ores (0.19). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Peru is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.