Peru Introduction Key Economic Facts Risk Assessment (Provided by Coface) Peru is a country in South America. It has a coastline on the Income Level (by per capita Upper Middle Income Country rating: A4 - A somewhat shaky political and Pacific Ocean and is bordered by Bolivia, Brazil, Chile, GNI): economic outlook and a relatively volatile business Colombia, and Ecuador. The Andes Mountains run parallel Level of Development: Developing environment can affect corporate payment behavior. to the Pacific Ocean. Many Peruvian GDP, PPP (current international $436.17 billion (2019) rivers originate in the peaks, and eastern $): Corporate default probability is still acceptable on average. lowlands contain tropical forests which are GDP growth (annual %): 2.15% (2019) Business Climate rating: A4 - The business environment part of the Amazon basin. The GDP per capita, PPP (current $13,416.44 (2019) is acceptable. Corporate financial information is sometimes government system is a presidential international $): neither readily available nor sufficiently reliable. Debt republic; the chief of state and the head of government is External debt stocks, total $64,204,059,473.40 (2019) collection is not always efficient and the institutional the president. Peru has a mixed economic system which (DOD, current US$): includes a variety of private freedom, combined with Manufacturing, value added (% 12.27% (2019) framework has shortcomings. Intercompany transactions centralized economic planning of GDP): may thus run into appreciable difficulties in the acceptable and government regulation. Current account balance (BoP, -$3.59 billion (2018) but occasionally unstable environments rated A4. current US$): Peru is a member of Strengths the Andean Community Inflation, consumer prices 2.14% (2019) • Membership of the Pacific Alliance and Andean (ANCOM), the Asia-Pacific (annual %): Economic Cooperation (APEC), Labor force, total: 19,356,012 (2020) Community and the Trans-Pacific Unemployment, total (% of 3.20% (2020) • Mineral, energy, agricultural, and fishery resources Partnership (TPP). total labor force) (modeled ILO estimate): • Low level of public debt Location: South America Imports of goods and services $52.03 billion (2019) • Independence of the central bank Capital City: Lima (-5 GMT) (current US$): Weaknesses Chief of State: resident Jose Pedro Castillo Exports of goods and services $54.86 billion (2019) • Dependent on commodities and demand from China (current US$): Head of Govt.: President Jose Pedro Castillo • Underdevelopment of credit (42% of GDP) Currency: Nuevos Soles (PEN) GDP Composition % Agriculture Services Industry Manufacturing • Inadequate infrastructure, healthcare, and Major Languages: <p>Spanish (official) 82.9%, Quechua (official) 13.6%, Aymara (official) educational systems 1.6%, Ashaninka 0.3%, other native 55 • Huge informal sector (70% of jobs) 30 languages (includes a large number of 12 minor Amazonian languages) 0.8%, 7 • Regional disparities (poverty in the Andean and other (includes foreign languages and *Although Manufacturing is included in the Industry figures, it is also separately Amazonian regions) sign language) 0.2%, none .1%, reported because it plays a critical role in economy. unspecified .7% (2017 est.)</p> Rankings U.S. Embassy Primary Religions: <p>Roman Catholic 60%, Christian 14.6% (inludes Index Rank U.S. Embassy Lima Evangelical 11.1%), other 0.3%, none Corruption Perceptions Index 101 / 180 Avenida La Encalada cdra. 17 s/n 4.0%, unspecified 21.1%</p> EY Globalization Index 38 / 60 Surco, Lima 33, Peru Calling Code: 51 Telephone: (51-1) 618-2000 Global Competitiveness Index 65 / 141 Voltage: 220 https://pe.usembassy.gov Global Enabling Trade Index 54 / 136 Key Websites Global Services Location Index 19 / 55 Index of Economic Freedom 45 / 179 Main Government Page: gob.pe International Logistics Performance Index (LPI) 83 / 160 Commerce Ministry: gob.pe Inward FDI Potential Index 86 / 139 Export Promotion Agency: promperu.gob.pe KOF Index of Globalization 60 / 185 Investment Promotion proinversion.gob.pe Networked Readiness Index (NRI) 90 / 139 Agency: Open Budget Index 13 / 115 Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV.