Peru2020 Economic Complexity : -0.68, Rank 89 of 127
2020 Product Exports | Imports: $40.5B | $34.7B, 53 of 226 | 59 of 226
2020 Per Capita Product Exports | Imports: $1.23k | $1.05k, 99 of 219 | 142 of 219
2018 Service Exports | Imports : $7.36B | $9.9B, 62 of 125 | 56 of 125
Overview In 2020 Peru was the number 50 economy in the world in terms of GDP (current US$), 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.
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.
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.
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).
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).
Fastest Growing Export 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).
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:
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.
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.
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.
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.
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.
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