PERU

Economic revival, but the road ahead is fraught with challenges

BB2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

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GDP USD222.04bn (World ranking 50, World Bank 2018)
Population 31.389mn (World ranking  43, World Bank 2018)
Form of state Constitutional Republic
Head of government Martín Vizcarra (President)
Next elections 2021, presidential and legislative
  • Natural resource rich (minerals: copper, silver, gold, zinc, energy, and fishing)
  • Agile macroeconomic policies, independent central bank
  • Low public debt
  • Strong FX reserve position and low external debt
  • Among Latin American countries, third best-ranked in in the 2016 World Bank’s Doing Business Survey
  • Vulnerability to climatic phenomena
  • Strong dependence on Chinese demand and commodity exports
  • Highly skewed income distribution and high, though shrinking poverty levels
  • Dollarization of the financial system
  • Rule of Law and control of corruption are below regional average

Trade structure by destination/origin

(% of total)

Exports Rank Imports
China 23%
1
22% China
United States 14%
2
21% United States
Canada 7%
3
5% Brazil
Switzerland 7%
4
5% Mexico
Brazil 4%
5
5% Chile

Trade structure by product

(% of total)

Exports Rank Imports
Non Ferrous Ores 29%
1
6% Refined Petroleum Products
Non-monetary Gold 15%
2
5% Cars and Cycles
Other Edible Agricultural Prod 11%
3
5% Plastic Articles
Non Ferrous Metals 9%
4
5% Telecommunications Equipment
Refined Petroleum Products 5%
5
5% Crude Oil

Contact

Contact Euler Hermes

Economic Research Team

research@eulerhermes.com

Country Risk Analyst:

Daniela Ordóñez, Laura Mesbahi

daniela.ordonez@eulerhermes.com

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