Economy - overview:

The Peruvian economy has become increasingly market-oriented, with major privatizations completed since 1990 in the mining, electricity, and telecommunications industries. Thanks to strong foreign investment and the cooperation between the FUJIMORI government and the IMF and World Bank, growth was strong in 1994-97 and inflation was brought under control. In 1998, El Nino's impact on agriculture, the financial crisis in Asia, and instability in Brazilian markets undercut growth. And 1999 was another lean year for Peru, with the aftermath of El Nino and the Asian financial crisis working its way through the economy. Political instability resulting from the presidential election and FUJIMORI's subsequent departure from office limited economic growth in 2000.

GDP:

purchasing power parity - $123 billion (2000 est.)

GDP - real growth rate:

3.6% (2000 est.)

GDP - per capita:

purchasing power parity - $4,550 (2000 est.)

GDP - composition by sector:

agriculture:  15%

industry:  42%

services:  43% (1999)

Population below poverty line:

49% (1994 est.)

Household income or consumption by percentage share:

lowest 10%:  1.9%

highest 10%:  34.3% (1994)

Inflation rate (consumer prices):

3.7% (2000 est.)

Labor force:

7.6 million (1996 est.)

Labor force - by occupation:

agriculture, mining and quarrying, manufacturing, construction, transport, services

Unemployment rate:

7.7%; extensive underemployment (1997)

Budget:

revenues:  $8.5 billion

expenditures:  $9.3 billion, including capital expenditures of $2 billion (1996 est.)

Industries:

mining of metals, petroleum, fishing, textiles, clothing, food processing, cement, auto assembly, steel, shipbuilding, metal fabrication

Industrial production growth rate:

8.5% (2000 est.)

Electricity - production:

18.886 billion kWh (1999)

Electricity - production by source:

fossil fuel:  23.04%

hydro:  76.43%

nuclear:  0%

other:  0.53% (1999)

Electricity - consumption:

17.565 billion kWh (1999)

Electricity - exports:

0 kWh (1999)

Electricity - imports:

1 million kWh (1999)

Agriculture - products:

coffee, cotton, sugarcane, rice, wheat, potatoes, plantains, coca; poultry, beef, dairy products, wool; fish

Exports:

$7 billion (f.o.b., 2000 est.)

Exports - commodities:

fish and fish products, copper, zinc, gold, crude petroleum and byproducts, lead, coffee, sugar, cotton

Exports - partners:

US 29%, EU 25%, Andean Community 6%, Japan 4%, Mercosur 3% (1999)

Imports:

$7.4 billion (f.o.b., 2000 est.)

Imports - commodities:

machinery, transport equipment, foodstuffs, petroleum, iron and steel, chemicals, pharmaceuticals

Imports - partners:

US 32%, EU 21%, Andean Community 6%, Mercosur 8%, Japan 5% (1999)

Debt - external:

$31 billion (2000 est.)

Economic aid - recipient:

$895.1 million (1995)

Currency:

nuevo sol (PEN)

Currency code:

PEN

Exchange rates:

nuevo sol per US dollar - 3.5230 (January 2001), 3.4900 (2000), 3.383 (1999), 2.930 (1998), 2.664 (1997), 2.453 (1996)

Fiscal year:

calendar year