Peru:
Economy

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Other pages in this profile of Peru:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition Peru's economy reflects its varied geography - an arid coastal region, the Andes further inland, and tropical lands bordering Colombia and Brazil. Abundant mineral resources are found in the mountainous areas, and Peru's coastal waters provide excellent fishing grounds. However, overdependence on minerals and metals subjects the economy to fluctuations in world prices, and a lack of infrastructure deters trade and investment. After several years of inconsistent economic performance, the Peruvian economy grew by more than 4% per year during the period 2002-06, with a stable exchange rate and low inflation. Growth jumped to 7.5% in 2007, driven by higher world prices for minerals and metals. Risk premiums on Peruvian bonds on secondary markets reached historically low levels in late 2004, reflecting investor optimism regarding the government's prudent fiscal policies and openness to trade and investment. Despite the strong macroeconomic performance, underemployment and poverty have stayed persistently high. Growth prospects depend on exports of minerals, textiles, and agricultural products, and by expectations for the Camisea natural gas megaproject and for other promising energy projects. Upon taking office, President GARCIA announced Sierra Exportadora, a program aimed at promoting economic growth in Peru's southern and central highlands.
GDP (purchasing power parity)	Definition - World rank and map $219 billion (2007 est.)
GDP (official exchange rate)	Definition $109.1 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 9% (2007 est.)
GDP - per capita	Definition - World rank and map $7,800 (2007 est.)
GDP - composition by sector	Definition agriculture: 8.4% industry: 25.6% services: 66% (2007 est.)
Labor force	Definition 9.839 million (2007 est.)
Labor force - by occupation	Definition agriculture: 9% industry: 18% services: 73% (2001)
Unemployment rate	Definition - World rank and map 6.9% in metropolitan Lima; widespread underemployment (2007 est.)
Population below poverty line	Definition 44.5% (2006)
Household income or consumption by percentage share	Definition lowest 10%: 1.3% highest 10%: 40.9% (2003)
Distribution of family income - Gini index	Definition - World rank and map 52 (2003)
Inflation rate (consumer prices)	Definition - World rank and map 1.8% (2007 est.)
Investment (gross fixed)	Definition - World rank and map 23% of GDP (2007 est.)
Budget	Definition revenues: $32.48 billion expenditures: $29.11 billion (2007 est.)
Public debt	Definition - World rank and map 29.2% of GDP (2007 est.)
Agriculture - products	Definition asparagus, coffee, cotton, sugarcane, rice, potatoes, corn, plantains, grapes, oranges, coca; poultry, beef, dairy products; fish, guinea pigs
Industries	Definition mining and refining of minerals; steel, metal fabrication; petroleum extraction and refining, natural gas; fishing and fish processing, textiles, clothing, food processing
Industrial production growth rate	Definition - World rank and map 9.3% (2007 est.)
Electricity - production	Definition - World rank and map 24.97 billion kWh (2005 est.)
Electricity - consumption	Definition - World rank and map 22.59 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 774.2 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 110,700 bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 166,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 5.7 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 53,040 bbl/day (2004 est.)
Oil - imports	Definition - World rank and map 121,500 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 430.8 million bbl (2007 est.)
Natural gas - production	Definition - World rank and map 1.515 billion cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 1.515 billion cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 52 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 236.9 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map $1.75 billion (2007 est.)
Exports	Definition - World rank and map $27.96 billion f.o.b. (2007 est.)
Exports - commodities	Definition copper, gold, zinc, crude petroleum and petroleum products, coffee, potatoes, asparagus, textiles, guinea pigs
Exports - partners	Definition US 18.8%, China 11.8%, Switzerland 8.2%, Japan 7.2%, Canada 7%, Chile 5.7% (2006)
Imports	Definition - World rank and map $19.6 billion f.o.b. (2007 est.)
Imports - commodities	Definition petroleum and petroleum products, plastics, machinery, vehicles, iron and steel, wheat, paper
Imports - partners	Definition US 20.1%, China 10.7%, Brazil 9.8%, Ecuador 6%, Colombia 5.9%, Argentina 5.2%, Chile 4.9%, Mexico 4.2% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $27.78 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $31.07 billion (31 December 2007 est.)
Stock of direct foreign investment - at home	Definition $24.72 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $1.476 billion (2007 est.)
Market value of publicly traded shares	Definition $59.66 billion (2006)
Economic aid - recipient	Definition $397.8 million (2005)
Currency (code)	Definition nuevo sol (PEN)
Exchange rates	Definition nuevo sol per US dollar - 3.1731 (2007), 3.2742 (2006), 3.2958 (2005), 3.4132 (2004), 3.4785 (2003)
Fiscal year	Definition calendar year

Peru: Economy

Peru:
Economy