Key Facts (2017)
- Real GDP growth: 2.5%
- Nominal GDP: US$ 215.2 billion
- GDP per capita: US$ 6,762
- FDI flow: US$ 6.9 billion
- Exports: US$ 44.05 million
- Imports: US$ 39.71 million
- Inflation rate (CPI): 2.8%
- Public debt as % of GDP: 24.8%
- Net International Reserves: US$ 64.3 billion (Jan 2018)
- General government net debt (% GDP): 10.1
- Unemployment rate: 6.5%
- Population below poverty line: 21.8%
- Investment Grade: A3 (Moody's), BBB+ (S&P), BBB+ (Fitch Ratings)
- Doing Business Ranking: 58 (out of 189)
- Exports by economic sector: 61.8% Mining (mainly copper and gold), 6.0% Hydrocarbons, 3.4% Fishery, 2.4% Agriculture, 29.4% others.
- Imports by economic sector: 43.7% Capital goods, 38.3% Chemical and pharmaceutical, 18% transport and machinery.
NEWS about peru's economy:
Peru offers a favourable and friendly environment for foreign investment which is based upon:
Non-discriminatory treatment between foreign and local investors
- Free access to most economic sectors
- Freedom to transfer capital and collect royalties
- Guarantees to private property
- No restrictions to acquire equity from locals
- Freedom to access internal and external credit
- Access to international dispute settlement mechanism
As a participant country in the Investment Committee of the OECD, Peru promotes the implementation of the Guidelines for Multinational Enterprises, aimed at promoting a healthy business climate and enhancing relations between Peruvian authorities and the international investment community.
OPEN TRADE POLICY:
Since the mid-90s, Peru has been committed to an open market policy which has resulted in the establishment of 19 Free Trade Agreements (that include 53 partner countries for the trade of good, services and investment. They represent the largest markets such as the European Union, China, United States, among others, accounting for over 4 billion people and covering 96% of our exports.
Check Peru's Free Trade Agreements here
EASE OF DOING BUSINESS:
Thanks to a responsible management of public finance, Peru has reached an internationally recognized investment grade of BBB+ from Standard & Poor’s and Fitch, and A3 from Moody’s, which adds to the macroeconomic soundness of the country, with one of the lowest annual inflation rate at a regional level.
According to the World Bank Doing Business Report 2018 Peru stands in the 20 place on getting credit and 44 on registering property.
The current administration of President Pedro Pablo Kuczynski has among his priorities to boost private investment in Peru, not only promoting the participation of the business sector in the projects needed for the development of the country but also facilitating business and simplifying procedures.
At the national level, the entity in charge of the promotion private investment in Peru is Proinversión which is the government agency, under the Ministry of Economy and Finance, which promotes the incorporation of private investment in services and public infrastructure, assets, projects, state enterprises, among others.
Proinversión currently manages a project portfolio under the Public Private Partnership scheme (PPP) estimated at more than US$ 15 billion for the 2017-2018 period and which comprises projects in sectors such as transport, energy, water, real-state, telecommunications, mining and health.
According to data from Proinversion, the second largest investor country in Peru is the United Kingdom, accounting with a stock of US$ 4,670.3 million of Foreign Direct Investment.