Perú: Visió econòmica i política
Peru is a member of the WTO and very open to international trade, which represents 43.4% of GDP. The country mainly exports copper (29.9%), gold (14.6%), petroleum oils (5.1%), zinc ores (3.5%), and flours (3.3%), while it imports petroleum oils (13.6%), motor vehicles (6%), electrical apparatus for radio-telephony (3.5%), maize (1.9%), and automatic data processing machines and units (1.9%).
The country's main trade partners are China, the United States, Canada, Brazil, South Korea, Argentina, Japan, and Mexico. Peru's development strategy is based on an open and competitive economy. Trade agreements, in particular, are one of the government's main targets, as these agreements are a valuable instrument for attracting FDI and boosting productivity. Nearly 95% of Peru's exports are covered by Free Trade Agreements currently in force, which enables Peruvian products to enter, subject to the rules of origin of each trade agreement, under preferential conditions to 53 countries, including Canada, Chile, China, the member countries of the European Union, Japan, Singapore, South Korea, Thailand and the United States, among others. The country is seeking to position itself as a regional hub for trade between Latin America and the APEC countries (Asia-Pacific Economic Cooperation).
Peru has a structurally positive trade balance. In 2020, exports of goods decreased to USD 42.5 billion, mainly due to lower global demand as a result of the pandemic. Over that same period, imports also decreased, totalling USD 36.1 billion. According to the WTO, imports of services in 2020 totalled USD 7.3 billion, while exports stood at USD 3.2 billion. In recent years, there was a surge in mining production, as projects implemented during the previous years matured, which increased exports and offset the deceleration in domestic demand. Nevertheless, the 2020 slowdown of foreign demand slightly impacted the export of mining production.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 39,885 | 43,262 | 42,284 | 36,129 | 50,871 |
Exports of Goods (million USD) | 45,422 | 49,068 | 47,690 | 42,411 | 59,443 |
Imports of Services (million USD) | 8,657 | 9,676 | 10,540 | 7,319 | 10,294 |
Exports of Services (million USD) | 7,232 | 6,925 | 7,435 | 3,238 | 2,947 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 47.5 | 48.6 | 46.9 | 43.5 | 55.5 |
Trade Balance (million USD) | 6,704 | 7,201 | 6,879 | 8,196 | 14,833 |
Trade Balance (Including Service) (million USD) | 3,995 | 3,819 | 2,898 | 3,531 | 7,486 |
Imports of Goods and Services (Annual % Change) | 7.1 | 3.5 | 1.7 | -15.4 | 25.1 |
Exports of Goods and Services (Annual % Change) | 8.8 | 3.4 | 0.3 | -18.2 | 17.1 |
Imports of Goods and Services (in % of GDP) | 22.8 | 23.4 | 22.9 | 21.1 | 26.4 |
Exports of Goods and Services (in % of GDP) | 24.7 | 25.2 | 24.0 | 22.4 | 29.1 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 4.0 | 3.6 | 2.7 | 3.0 | 3.0 |
Volume of imports of goods and services (Annual % change) | 0.8 | 2.7 | 4.0 | 3.9 | 3.6 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2020 |
China | 28.3% |
United States | 16.1% |
Canada | 6.2% |
South Korea | 5.8% |
Japan | 4.4% |
Netherlands | 3.7% |
Switzerland | 3.5% |
India | 2.8% |
Spain | 2.8% |
Chile | 2.7% |
Brazil | 1.9% |
Germany | 1.9% |
United Arab Emirates | 1.9% |
Colombia | 1.7% |
Ecuador | 1.7% |
Bolivia | 1.4% |
Italy | 1.3% |
United Kingdom | 1.1% |
Mexico | 1.1% |
Belgium | 1.0% |
See More Countries | 39.1% |
Main Suppliers (% of Imports) |
2020 |
China | 28.6% |
United States | 18.5% |
Brazil | 5.5% |
Argentina | 4.6% |
Mexico | 4.2% |
Chile | 3.0% |
Germany | 2.8% |
Colombia | 2.7% |
India | 2.3% |
Canada | 2.2% |
Japan | 2.0% |
Spain | 1.9% |
South Korea | 1.8% |
Italy | 1.5% |
Bolivia | 1.5% |
Vietnam | 1.3% |
Ecuador | 1.2% |
Thailand | 1.0% |
France | 0.8% |
Russia | 0.8% |
See More Countries | 38.6% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
7.4 bn USD of services exported in 2018 | |
53.60% | |
Personal travelPersonal travel | 53.60% |
21.87% | |
9.32% | |
9.25% | |
2.25% | |
2.21% | |
1.00% | |
0.35% | |
0.15% |
9.9 bn USD of services imported in 2018 | |
29.41% | |
26.97% | |
Personal travelPersonal travel | 26.97% |
16.34% | |
10.63% | |
8.71% | |
3.53% | |
2.29% | |
1.80% | |
0.32% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: January 2023
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