Peru

Country Summary

Introduction

Background

Ancient Peru was the seat of several prominent Andean civilizations, most notably that of the Incas whose empire was captured by Spanish conquistadors in 1533. Peru declared its independence from Spain in 1821 and remaining Spanish forces were defeated in 1824. After a dozen years of military rule, Peru returned to democratic leadership in 1980.

Geography

Area

total: 1,285,216 sq km
land: 1,279,996 sq km
water: 5,220 sq km

Climate

varies from tropical in east to dry desert in west; temperate to frigid in Andes

Natural resources

copper, silver, gold, petroleum, timber, fish, iron ore, coal, phosphate, potash, hydropower, natural gas

People and Society

Population

32,440,172 (2023 est.)

Ethnic groups

Mestizo (mixed Amerindian and White) 60.2%, Amerindian 25.8%, White 5.9%, African descent 3.6%, other (includes Chinese and Japanese descent) 1.2%, unspecified 3.3% (2017 est.)

Languages

Spanish (official) 82.9%, Quechua (official) 13.6%, Aymara (official) 1.6%, Ashaninka 0.3%, other native languages (includes a large number of minor Amazonian languages) 0.8%, other (includes foreign languages and sign language) 0.2%, none 0.1%, unspecified 0.7% (2017 est.)

Religions

Roman Catholic 60%, Christian 14.6% (includes Evangelical 11.1%, other 3.5%), other 0.3%, none 4%, unspecified 21.1% (2017 est.)

Population growth rate

0.5% (2023 est.)

Government

Government type

presidential republic

Capital

name: Lima

Executive branch

chief of state: President Dina Ercilia BOLUARTE Zegarra (since 7 December 2022); first vice president (vacant); second vice president (vacant); note - the president is both chief of state and head of government
head of government: President Dina Ercilia BOLUARTE Zegarra (since 7 December 2022); first vice president (vacant); second vice president (vacant)

Legislative branch

description: unicameral Congress of the Republic of Peru or Congreso de la Republica del Peru (130 seats; members directly elected in multi-seat constituencies by closed party-list proportional representation vote to serve single 5-year terms)

Economy

Economic overview

upper middle-income South American economy; hit hard by political instability and COVID-19 but rebounding quickly; second-largest cocaine producer; current account balance improving; persistent income inequality; diversified exporter

Real GDP (purchasing power parity)

$421.937 billion (2021 est.)
$372.245 billion (2020 est.)
$418.03 billion (2019 est.)

Real GDP per capita

$12,500 (2021 est.)
$11,200 (2020 est.)
$12,700 (2019 est.)

Agricultural products

sugar cane, potatoes, rice, plantains, milk, poultry, maize, cassava, oil palm fruit, grapes

Industries

mining and refining of minerals; steel, metal fabrication; petroleum extraction and refining, natural gas and natural gas liquefaction; fishing and fish processing, cement, glass, textiles, clothing, food processing, beer, soft drinks, rubber, machinery, electrical machinery, chemicals, furniture

Exports

$66.098 billion (2021 est.)
$45.624 billion (2020 est.)
$54.676 billion (2019 est.)

Exports - partners

China 29%, United States 12%, Canada 5%, South Korea 5%, Switzerland 5% (2019)

Exports - commodities

copper, gold, refined petroleum, zinc, fishmeal, tropical fruits, lead, iron, molybdenum (2019)

Imports

$58.611 billion (2021 est.)
$42.093 billion (2020 est.)
$51.778 billion (2019 est.)

Imports - partners

China 24%, United States 22%, Brazil 6% (2019)

Imports - commodities

refined petroleum, crude petroleum, cars, broadcasting equipment, delivery trucks (2019)

Exchange rates

nuevo sol (PEN) per US dollar -
Exchange rates:
3.881 (2021 est.)
3.495 (2020 est.)
3.337 (2019 est.)
3.287 (2018 est.)
3.26 (2017 est.)


Page last updated: Tuesday, February 20, 2024