Flag Peru

2019
Economic
Complexity
: -0.5, Rank 102 of 157

2019
Product
Exports | Imports
: $46.8B | $40.6B, 53 of 225 |  57 of 225

2019
Per Capita Product
Exports | Imports
: $1.44k | $1.25k, 104 of 219 |  136 of 219

2018
Service
Exports | Imports
: $7.36B | $9.9B, 36 of 88 | 35 of 88

Overview: In 2019 Peru was the number 49 economy in the world in terms of GDP (current US$), the number 53 in total exports, the number 57 in total imports, the number 90 economy in terms of GDP per capita (current US$) and the number 102 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Peru are Copper Ore ($12.2B), Gold ($6.76B), Refined Petroleum ($2.21B), Zinc Ore ($1.65B), and Refined Copper ($1.62B), exporting mostly to China ($13.6B), United States ($5.79B), Canada ($2.45B), South Korea ($2.32B), and Switzerland ($2.28B).

In 2019, Peru was the world's biggest exporter of Animal Meal and Pellets ($1.54B), Lead Ore ($1.01B), Fish Oil ($434M), and Buckwheat ($139M)

Imports: The top imports of Peru are Refined Petroleum ($3.05B), Crude Petroleum ($2.05B), Cars ($1.45B), Broadcasting Equipment ($1.23B), and Delivery Trucks ($1.01B), importing mostly from China ($9.61B), United States ($8.9B), Brazil ($2.25B), Chile ($1.79B), and Mexico ($1.66B).

In 2019, Peru was the world's biggest importer of Sulfides ($47.4M)

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

Yearly Exports

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Value
Depth

Top Export (2019): Copper Ore, $12.2B

Top Destination (2019): China, $13.6B

In 2019, Peru exported a total of $46.8B, making it the number 53 exporter in the world. During the last five reported years the exports of Peru have changed by $7.22B from $39.6B in 2014 to $46.8B in 2019.

The most recent exports are led by Copper Ore ($12.2B), Gold ($6.76B), Refined Petroleum ($2.21B), Zinc Ore ($1.65B), and Refined Copper ($1.62B). The most common destination for the exports of Peru are China ($13.6B), United States ($5.79B), Canada ($2.45B), South Korea ($2.32B), and Switzerland ($2.28B).

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Yearly Imports

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Value
Depth

Top Import (2019): Refined Petroleum, $3.05B

Top Origin (2019): China, $9.61B

In 2019 Peru imported $40.6B, making it the number 57 trade destination in the world. During the last five reported years the imports of Peru changed by -$17.8M from $40.6B in 2014 to $40.6B in 2019.

The most recent imports of Peru are led by Refined Petroleum ($3.05B), Crude Petroleum ($2.05B), Cars ($1.45B), Broadcasting Equipment ($1.23B), and Delivery Trucks ($1.01B). The most common import partners for Peru are China ($9.61B), United States ($8.9B), Brazil ($2.25B), Chile ($1.79B), and Mexico ($1.66B).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

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 ⁩⁨92nd to the 102nd⁩ 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 (85.8), Copper Ore (78.7), Fish Oil (74.6), Lead Ore (65.2), and Zinc Ore (57.3). 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 Articles of zinc nes (0.71), Chenille, loop whale, gimped (except metallised) yarn (0.68), Yarn of combed wool, not retail (0.61), Woven fabric of combed wool or fine animal hair (0.6), and Safety glass (toughened, tempered, laminated) (0.6). 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 Manganese Ore (0.22), Crude Petroleum (0.21), Maté (0.21), Raw Cotton (0.21), and Tin Ores (0.21). 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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Depth

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.