Overview In 2020 Peru was the number 50 economy in the world in terms of GDP (current US$), the number 53 in total exports, the number 59 in total imports, the number 94 economy in terms of GDP per capita (current US$) and the number 89 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Peru are Copper Ore ($9.23B), Gold ($6.46B), Refined Copper ($1.8B), Petroleum Gas ($1.41B), and Animal Meal and Pellets ($1.19B), exporting mostly to China ($11.3B), United States ($6.36B), South Korea ($2.71B), Canada ($2.42B), and Japan ($1.91B).

In 2020, Peru was the world's biggest exporter of Animal Meal and Pellets ($1.19B)and Fish Oil ($365M)

Imports The top imports of Peru are Refined Petroleum ($2.18B), Broadcasting Equipment ($1.08B), Computers ($833M), Cars ($828M), and Crude Petroleum ($752M), importing mostly from China ($9.91B), United States ($6.82B), Brazil ($1.77B), Chile ($1.46B), and Argentina ($1.41B).

In 2020, Peru was the world's biggest importer of Sulfides ($44.1M)

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

Flow
View
Y-AXIS SCALE

The following section uses the most recent trade data from partners of Peru.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Flow
Value
Compare to
Depth

Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

#permalink to section

Yearly Exports

#permalink to section
Value
Compare to
Depth

Top Export (2020): Copper Ore, $9.23B

Top Destination (2020): China, $11.3B

In 2020, Peru exported a total of $40.5B, making it the number 53 exporter in the world. During the last five reported years the exports of Peru have changed by $6.07B from $34.5B in 2015 to $40.5B in 2020.

The most recent exports are led by Copper Ore ($9.23B), Gold ($6.46B), Refined Copper ($1.8B), Petroleum Gas ($1.41B), and Animal Meal and Pellets ($1.19B). The most common destination for the exports of Peru are China ($11.3B), United States ($6.36B), South Korea ($2.71B), Canada ($2.42B), and Japan ($1.91B).

Explore Visualizations

Yearly Imports

#permalink to section
Value
Compare to
Depth

Top Import (2020): Refined Petroleum, $2.18B

Top Origin (2020): China, $9.91B

In 2020 Peru imported $34.7B, making it the number 59 trade destination in the world. During the last five reported years the imports of Peru changed by -$2.59B from $37.3B in 2015 to $34.7B in 2020.

The most recent imports of Peru are led by Refined Petroleum ($2.18B), Broadcasting Equipment ($1.08B), Computers ($833M), Cars ($828M), and Crude Petroleum ($752M). The most common import partners for Peru are China ($9.91B), United States ($6.82B), Brazil ($1.77B), Chile ($1.46B), and Argentina ($1.41B).

Explore Visualizations

Flow
View
Label

Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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

#permalink to section

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:
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
217: Preferential tariff for European Free Trade Association (EFTA) countries
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

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Peru has a high level of specialization in Animal Meal and Pellets (71), Fish Oil (62.2), Copper Ore (61.7), Lead Ore (55.8), and Zinc Ore (52.8). 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

#permalink to section

The highest complexity exports of Peru according to the product complexity index (PCI) are Wire, rod,etc of base metal, carbide for welding etc (0.76), Articles of zinc nes (0.62), Chenille, loop whale, gimped (except metallised) yarn (0.57), Slide fasteners and parts thereof (0.43), and Woven fabric of combed wool or fine animal hair (0.41). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Peru according to the relatedness index, are Manganese Ore (0.22), Insect Resins (0.21), Palm Oil (0.2), Wool (0.2), and Other Ores (0.2). 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 a country currently specializes in.

Relatedness Space

#permalink to section

This network shows the products most related to the production structure of Peru. These are products that tend to be co-exported with the products that Peru exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

#permalink to section
Filter
Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

#permalink to section
Scale

During the last 20 years Peru's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨62nd to the 89th⁩ 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.

Explore Rankings