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2023
Economic Complexity
Trade -0.61Rank 90 of 132
2021
Economic Complexity
Technology 0.18Rank 45 of 96
2022
Economic Complexity
Research 0.18Rank 49 of 140
2023
Product
Exports | Imports $66.6B | $52B51 of 226 |  58 of 226
2023
Per Capita Product
Exports | Imports $1.97k | $1.54k96 of 220 |  142 of 220

About

Overview In 2023, Peru was the number 49 economy in the world in terms of GDP (current US$), the number 51 in total exports, the number 58 in total imports, the number 97 economy in terms of GDP per capita (current US$) and the number 90 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Peru are Copper Ore ($19.9B), Gold ($8.92B), Refined Copper ($2.79B), Refined Petroleum ($2.06B), and Grapes ($1.99B), exporting mostly to China ($22.5B), United States ($9.3B), Canada ($3.24B), India ($2.62B), and Switzerland ($2.42B).

In 2023, Peru was the world's biggest exporter of Grapes ($1.99B), Zinc Ore ($1.73B), and Lake Pigments ($67.4M)

Imports The top imports of Peru are Refined Petroleum ($5.6B), Crude Petroleum ($3.08B), Cars ($1.9B), Delivery Trucks ($1.49B), and Broadcasting Equipment ($1.42B), importing mostly from China ($13.8B), United States ($11.1B), Brazil ($3.63B), Argentina ($2.55B), and Mexico ($1.74B).

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

Latest Trends

Latest Trade

Flow
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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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

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

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Copper Ore$19.9B
Top Destination (2023)China$22.5B

In 2023, Peru exported a total of $66.6B, making it the number 51 exporter in the world. During the last five reported years the exports of Peru have changed by $17.4B from $49.2B in 2018 to $66.6B in 2023.

The most recent exports are led by Copper Ore ($19.9B), Gold ($8.92B), Refined Copper ($2.79B), Refined Petroleum ($2.06B), and Grapes ($1.99B). The most common destination for the exports of Peru are China ($22.5B), United States ($9.3B), Canada ($3.24B), India ($2.62B), and Switzerland ($2.42B).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
China$4.47B (+ 24.8%)
United States$398M (+ 4.47%)
United Arab Emirates$365M (+ 51.1%)
Fastest Growing Import Markets (2022 - 2023)
Ecuador$205M (+ 21.6%)
Nigeria$138M (+ 47.7%)
Paraguay$107M (+ 80.9%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)-0.61Rank 90 of 132
Economic Complexity (Technology)0.18Rank 45 of 96
Economic Complexity (Research)0.18Rank 49 of 140

Most Specialized Products by RCA Index

Peru has a high level of specialization in Copper Ore (71.2), Molybdenum Ore (58.4), Zinc Ore (57.5), Grapes (53.9), and Calcium Phosphates (42.2). 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

The highest complexity exports of Peru according to the product complexity index (PCI) are Pens; ball-point, felt tipped, other porous tipped pens; fountain pens, stylograph pens... (0.73), Yarn and strip and the like of heading no. 5404 or 5405,... (0.58), Safety glass, consisting of toughened (tempered) or laminated glass (0.46), Sodium hydroxide (caustic soda); potassium hydroxide (caustic potash) peroxides of sodium or... (0.39), and Retreaded or used pneumatic tyres of rubber; solid or cushion tyres, tyre... (0.37). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Peru according to the relatedness index, were Manganese Ore (0.21), Tin Ores (0.2), Cassava (0.19), Raw Cotton (0.19), and Insect Resins (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.

Product Space

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

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.

Relatedness Space (2023)

Diversification Frontier

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Peru's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨84th to the 90th⁩ 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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ECI (Trade) Ranking by Country

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