Peru Economy 5-19-24

Nominal GDP $264.636B, Per capita GDP $7,669, Average Wage $4.476, Population 32,325,948, Debt to GDP 32.09%, Inflation 18.12%, Unemployment 3.5%, Exports $56.26B, Imports $51.18B. Trade Surplus $5.08B. Land area 496,225 sq miles, Arable land 19%. Urban 72.3%, Rural 27.7%.

Main Industries are Mining and Refining of Minerals; Steel; Metal Fabrication; Petroleum Extraction and Refining

Exports include minerals, copper, gold, zinc, lead, molybdenum, manganese ore, textiles, chemicals, pharmaceuticals, manufactures, machinery, services, fruit, grapes, and fish meal.

The most recent exports are led by Copper Ore ($13.5B), Gold ($7.4B), Petroleum Gas ($3.06B), Refined Copper ($2.52B), and Refined Petroleum ($2.18B). The most common destination for the exports of Peru are China ($17.6B), United States ($8.69B), Japan ($2.83B), Canada ($2.69B), and South Korea ($2.62B).

Imports include petroleum/petroleum products, chemicals, plastic, machinery, wheat, corn, soybean products, vehicles, TV sets, front-end loaders, telecom equipment and telephones, paper, cotton, and medicines. A lot of Peru's imports come in from China and the USA.

Peru’s voters are unhappy with their government. Their President has an 8% approval rating and the Legislature is doing a power grab. Crime is a problem and so is inflation.

https://www.forbes.com/sites/nathanielparishflannery/2024/04/02/perus-economy-faces-a-challenging-outlook-in-2024/?sh=31f862eaf122

In 2022, over 400,000 Peruvians left the country without returning, more than in any year since 1990. In just the first half of 2023, another 400,000 left. While some have flown to Spain, a growing number of Peruvians are heading to the United States’ southern border, often after first traveling by air or by foot to Mexico. 

Norb Leahy, Dunwoody GA Tea Party Leader