OVERVIEW

Peru is a country located on the western coast of South America, known for its breathtaking landscapes, from the Andes Mountains to the Amazon Rainforest, and its cultural heritage rooted in the ancient Inca civilization, with iconic sites like Machu Picchu and the mysterious Nazca Lines.

Its capital, Lima, is a vibrant metropolis with nearly 10 million residents, was founded in 1535 and it’s known for its colonial architecture and world class cuisine.

In 2023, Peru ranked

  • 49th in terms of GDP, currently valued as $268B, out of 195 economies in the world;
  • 50th in terms of total exports out of 226 countries;
  • 97th in terms of GDP per capita, valued with current US$, out of 196 economies in the world.

ECONOMIC COMPLEXITY RANKING

EXPORT

In 2023 it was estimated that the principal products that were exported from Peru were

  • Copper Ore - $19.9B;
  • Gold - $8.92B;
  • Refined Copper - $2.79B;
  • Refined Petroleum - $2.06B;
  • Grapes - $1.99B.

On the other hand, the commonest destinations for Peru exports were

  • China - $22.5B;
  • United States - $9.3B;
  • Canada - $3.24B;
  • India - $2.62B;
  • Switzerland - $2.42B.

Lastly, it was revealed that, on the same year, Peru was the world’s largest exporter of many categories, such as

  • Grapes - $1.98B;
  • Zinc Ore - $1.73B;
  • Lake Pigments - $67.6M.

IMPORT

In 2023 the most imported products from other countries to Peru were

  • Refined Petroleum - $5.6B;
  • Crude Petroleum - $3.08B;
  • Cars - $1.9B;
  • Delivery Trucks - $1.49B;
  • Broadcasting Equipment - $1.42B.

These goods were mainly produced by

  • China - $13.8B;
  • United States - $11.1B;
  • Brazil - $3.63B;
  • Argentina - $2.55B;
  • Mexico - $1.74B.

YEARLY TRADE

During the last five reported years, the exports of Peru have increased by an amount of $15.8B from $49B in 2018 to $64.8B in 2023.

The most recent exports are led by

  • Copper Ore - $20B;
  • Gold - $8.44B;
  • Refined Copper - $2.79B;
  • Refined Petroleum - $2.2B;
  • Other Fruits - $1.82B.

They were exported primarily to

  • China - $22.1B;
  • United States - $9.39B;
  • Canada - $3.06B;
  • India - $2.57B;
  • South Korea - $2.34B.

CONCLUSIONS

In 2023, Peru faced some difficulties but maintained a strong potential and regional influence. Despite social and climate challenges sectors like mining, agriculture and tourism, but also strategic trade agreements and open investment environments, continued to shape the country’s market.

Source: https://oec.world/en

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