Peru2019 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.
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).
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).
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).
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.
*The tariffs applied to imports for Peru are:
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.
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.
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.
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.
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.
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