Key Facts (2018)
Population: 32.1 million
Real GDP growth: 4.0%
Nominal GDP: US$ 225.2 billion
GDP per capita: US$ 6,571 (2017)
Inflation rate (avg. 2008 - 2018): 2.9%
Public debt as % of GDP: 23.6%
Net International Reserves as % of GDP: 28.1%
Public investment annual change: 8.4%
Private investment annual change: 4.4%
Unemployment rate: 4.5%
Domestic demand annual growth: 4.3%
Population below poverty line: 21.7% (2017)
Investment Grade: A3 (Moody's), BBB+ (S&P), BBB+ (Fitch)
Exports: US$ 48,942
61.8% Mining (mainly copper and gold), 6.0% Hydrocarbons, 3.4% Fishery, 2.4% Agriculture, 29.4% others.
46.0% to Asia, 19.9% to Europe, 18.5% to North America, 14.1% to LAC
Imports: US$ 41,893
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, including the ones from the European Union). They represent 75% of the world GDP, 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 in the 44 place on registering property.
The current administration of President Martin Vizcarra has among his priorities to close the infrastructure gap in Peru, not only promoting the participation of the private 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 portfolio of 58 projects under the Public Private Partnership scheme (PPP) for the period 2019 - 2021 estimated in US$ 10,237 million in a wide range of sectors, from rail, ports, roads, airports, water and sanitation to education, health, gas and broadband & technology.
According to data from Proinversion, the second largest investor country in Peru is the United Kingdom, but the UK is likely to become the largest investor since the announcement of a mega-project in mining.