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.
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.
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.
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).
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.
*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 TM8038: AAP.CE N° 38 Acuerdo de Complementación Económica N° 38 Suscrito entre la República de Chile y la República del Perú46: AAP.CE N° 50 Acuerdo de Complementación Económica N° 50 Celebrado entre la República de Cuba y la República del Perú60: AAP.CE N° 58 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay y Perú69: AAP.CE Nº 67 Acuerdo de integración Comercial entre los Estados Unidos Mexicanos y la República del Perú79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay82: 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 treatement178: Preferential tariff for Canada182: Preferential tariff for Chile184: Preferential tariff for China189: Preferential tariff for Colombia192: Preferential tariff for Costa Rica220: Preferential tariff for European Union countries (SAA) Stabilisation and Association Agreement233: Preferential tariff for Honduras238: Preferential tariff for Iceland246: Preferential tariff for Japan249: Preferential tariff for Korea, Republic of270: Preferential tariff for Mexico281: Preferential tariff for Norway285: Preferential tariff for Panama299: Preferential tariff for Singapore307: Preferential tariff for Switzerland and Liechtenstein309: Preferential tariff for Thailand311: Preferential tariff for The Andean Community ( Spanish: Comunidad Andina, CAN)328: Preferential tariff for United States332: Preferential tariff for Venezuela
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.
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.
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.
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.
Peru
