Peru: Economic and Political Overview

In this page: Economic Indicators | Foreign Trade in Figures | Sources of General Economic Information | Political Outline | COVID-19 Country Response

Economic Indicators

For the latest updates on the key economic responses from governments to address the economic impact of the COVID-19 pandemic, please consult the IMF's policy tracking platform Policy Responses to COVID-19.

An economic model country for the past two decades, Peru's growth peaked at an average of 6% between 2004 and 2012. Even though Peru faced economic difficulties in the past couple of years due to the pandemic, the country's economic situation has improved, with growth levels reaching an estimated 2.7% in 2022, mainly driven by a boost in domestic demand and household consumption. The Peruvian economy is expected to continue growing in the coming years, with the IMF predicting a GDP growth of 2.6% for 2023 and 3.2% for 2024.

Peru recorded a budget deficit of 2.8% of the GDP in 2022, a rate that's expected to remain somewhat stable in 2023 and 2024, at 2.6% and 2.3%. Inflation increased to 7.5% in 2022, but the Central Bank should tighten its monetary policy to get inflation rates to decrease the target of 2% in the coming years, with the IMF forecasting a decrease to 4.4% in 2023 and 2.5% in 2024. Furthermore, public debt decreased to 34.8% of GDP in 2022 and, although that rate is expected to slightly increase to 35.7% in 2023 and remain stable in 2024, Peru still has one of the lowest debt-to-GDP ratios of Latin America thanks to the prudential fiscal policy in force since the early 2000s. Although the pandemic has significantly impacted the Peruvian economy, the fiscal measures implemented by the government have been effective in boosting economic activity, which has been gradually recovering.

Although the unemployment rate in Peru doubled during the early stages of the pandemic, unemployment has been decreasing and, in 2022, it returned to pre-pandemic levels and reached an estimated 7.6% of the labour force. According to IMF estimates, the country's unemployment rate is expected to remain stable in 2023 and 2024, at 7.4% and 7.5%, respectively. However, the informal economy continues to employ a large part of the active population. Moreover, the country has high levels of inequality, with a significant concentration of wealth, and a poverty rate of 20.2%. About 7 million Peruvians now live in poverty, 44% of whom are in rural areas. There are serious regional disparities in poverty throughout the country, with the highest numbers being in the Andean and Amazonian regions.

Main Indicators	2020	2021	2022 (E)	2023 (E)	2024 (E)
GDP (billions USD)	205.82	225.94	242.40	268.24	279.46
GDP (Constant Prices, Annual % Change)	-11.0	13.6	2.7	2.4	3.0
GDP per Capita (USD)	6,145	6,679	7,094	7,773	8,018
General Government Balance (in % of GDP)	-6.0	-3.7	-1.8	-2.2	-2.3
General Government Gross Debt (in % of GDP)	35.0	36.4	33.4	33.0	33.3
Inflation Rate (%)	1.8	4.0	7.9	5.7	2.4
Unemployment Rate (% of the Labour Force)	13.0	10.7	7.8	7.6	7.4
Current Account (billions USD)	2.45	-5.10	-10.89	-5.71	-6.31
Current Account (in % of GDP)	1.2	-2.3	-4.5	-2.1	-2.3

Source: IMF – World Economic Outlook Database , Latest available data

Note: (e) Estimated Data

Main Sectors of Industry

Peru’s varied geography is reflected in the country’s economy. The abundance of resources is found mainly in mineral deposits in the mountainous regions, while its extensive maritime territory has traditionally yielded excellent fishing resources. However, due to its complicated geographical features (such as the arid coast, the rugged Andes and the hard-to-reach jungle), Peru has a rather small agricultural area, which occupies only 1.7% of the territory. Still, the sector is fairly significant compared to the size of the country's arable land. Agriculture contributes to 7% of Peru's GDP and employs 27.4% of the active population. The country’s main agricultural products are cotton, sugarcane, coffee, wheat, rice, maize, quinoa, and barley. Peru is also one of the world's leading exporters of artichokes, mangoes, citrus, avocado, and grapes. In 2022, Peruvian agricultural sector recorded a significant growth, mainly due to an increased production of bananas, corn, potato, and mango, among others.

The industry sector generates 35% of the GDP, employing 15.2% of the active population. Peru has a large and dynamic mining industry, mainly for copper and gold extraction. Peru has been a mining economy since colonial times, and the country is the world’s top producer of silver, the fifth producer of gold, the second producer of copper, and an important supplier of zinc and lead. Large mining has begun during the past years, which increased even more the importance of the mining sector. The country also has large reserves of natural gas and oil, although Peru is a net energy importer. The main manufacturing activities are textiles, consumer goods, food processing and fish products. Furthermore, although the Peruvian government has tried to disperse industrial production, the country's main industries are within the greater Lima area. In 2022, the industry sector continued seeing a significant recovery from the impact of the COVID-19 pandemic, bolstered by soaring growth in one of Peru's key sectors: mining.

The tertiary sector contributes 49.2% of the GDP and employs 57.4% of the workforce. The sector consists of tourism, financial services and telecommunication, all of which have boomed due to a combined effort from both the government and private sector. The tourism and construction sectors, particularly, are very well developed. Although the services sector was hit the hardest during the pandemic, it showed a significant recovery in 2022, especially in tourism, hotels, restaurants, transport, and entertainment.

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	27.4	15.2	57.4
Value Added (in % of GDP)	7.0	35.0	49.2
Value Added (Annual % Change)	3.7	16.4	11.8

Source: World Bank - Latest available data.

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Monetary Indicators	2016	2017	2018	2019	2020
Peruvian Nuevo Sol (PEN) - Average Annual Exchange Rate For 1 MUR	0.09	0.09	0.10	0.09	0.09

Source: World Bank - Latest available data.

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Indicator of Economic Freedom

Definition

Definition:

The Economic freedom index measure ten components of economic freedom, grouped into four broad categories or pillars of economic freedom: Rule of Law (property rights, freedom from corruption); Limited Government (fiscal freedom, government spending); Regulatory Efficiency (business freedom, labour freedom, monetary freedom); and Open Markets (trade freedom, investment freedom, financial freedom). Each of the freedoms within these four broad categories is individually scored on a scale of 0 to 100. A country’s overall economic freedom score is a simple average of its scores on the 10 individual freedoms.

Score:: 67,7/100
World Rank:: 50
Regional Rank:: 7

Economic freedom in the world (interactive map)
Source: Index of Economic Freedom, Heritage Foundation

Business environment ranking

Definition

Definition:

The business rankings model measures the quality or attractiveness of the business environment in the 82 countries covered by The Economist Intelligence Unit’s Country Forecast reports. It examines ten separate criteria or categories, covering the political environment, the macroeconomic environment, market opportunities, policy towards free enterprise and competition, policy towards foreign investment, foreign trade and exchange controls, taxes, financing, the labour market and infrastructure.

Score:: 6.31/10
World Rank:: 44/82

Source: The Economist Intelligence Unit - Business Environment Rankings 2020-2024

Country Risk

See the country risk analysis provided by Coface.

Foreign Trade in Figures

Peru is a member of the WTO and very open to international trade, which represents 55.5% of GDP. The country mainly exports copper (31.2%), gold (13.7%), petroleum oils (3.3%), flours (3.2%), and petroleum gas (3%), while it imports petroleum oils (11.7%), motor vehicles (5.5%), telephone sets (3.6%), automatic data processing machines and units (2.6%), and maize (2.2%).

The country's main trade partners are China, the United States, Brazil, South Korea, Japan, Canada, Argentina, and Mexico. Peru's development strategy is based on an open and competitive economy. Trade agreements, in particular, are one of the government's main targets, as these agreements are a valuable instrument for attracting FDI and boosting productivity. Nearly 95% of Peru's exports are covered by Free Trade Agreements currently in force, which enables Peruvian products to enter, subject to the rules of origin of each trade agreement, under preferential conditions to 53 countries, including Canada, Chile, China, the member countries of the European Union, Japan, Singapore, South Korea, Thailand and the United States, among others. The country is seeking to position itself as a regional hub for trade between Latin America and the APEC countries (Asia-Pacific Economic Cooperation).

Peru has a structurally positive trade balance. In 2021, exports of goods increased to USD 59.4 billion, mainly due to a boost in global demand following the pandemic. Over that same period, imports also increased, totalling USD 50.8 billion. According to the WTO, imports of services in 2021 totalled USD 10.2 billion, while exports stood at USD 2.9 billion. As a result, the country recorded a positive trade balance of USD 7.4 billion in 2021. In recent years, there was a surge in mining production, as projects implemented during the previous years matured, which increased exports and offset the deceleration in domestic demand.

Foreign Trade Indicators	2017	2018	2019	2020	2021
Imports of Goods (million USD)	39,885	43,262	42,284	36,129	50,871
Exports of Goods (million USD)	45,422	49,068	47,690	42,411	59,443
Imports of Services (million USD)	8,657	9,676	10,540	7,319	10,294
Exports of Services (million USD)	7,232	6,925	7,435	3,238	2,947
Imports of Goods and Services (Annual % Change)	7.1	3.5	1.7	-15.4	25.1
Exports of Goods and Services (Annual % Change)	8.8	3.4	0.3	-18.2	17.1
Imports of Goods and Services (in % of GDP)	22.8	23.4	22.9	21.1	26.4
Exports of Goods and Services (in % of GDP)	24.7	25.2	24.0	22.4	29.1
Trade Balance (million USD)	6,704	7,201	6,879	8,196	14,833
Trade Balance (Including Service) (million USD)	3,995	3,819	2,898	3,531	7,486
Foreign Trade (in % of GDP)	47.5	48.6	46.9	43.5	55.5

Source: WTO – World Trade Organisation ; World Bank , Latest Available Data

Main Partner Countries

Main Customers (% of Exports)	2021
China	32.0%
United States	12.8%
South Korea	5.0%
Japan	4.9%
Canada	4.9%
India	4.5%
Switzerland	3.4%
Netherlands	3.4%
Chile	3.0%
Spain	2.6%
United Kingdom	2.3%
Germany	1.9%
Brazil	1.9%
Ecuador	1.6%
Colombia	1.5%
United Arab Emirates	1.5%
Bolivia	1.2%
Italy	1.2%
Belgium	1.0%
Mexico	1.0%
See More Countries	40.4%

Main Suppliers (% of Imports)	2021
China	28.6%
United States	18.7%
Brazil	6.7%
Argentina	4.5%
Mexico	3.7%
Chile	2.6%
Colombia	2.3%
Germany	2.3%
India	2.2%
Japan	2.0%
Canada	1.9%
South Korea	1.9%
Bolivia	1.8%
Spain	1.7%
Vietnam	1.6%
Italy	1.5%
Ecuador	1.3%
Russia	1.3%
Türkiye	1.2%
Thailand	1.0%
See More Countries	37.8%

Source: Comtrade, Latest Available Data

Main Products

56.3 bn USD of products exported in 2021
Copper ores and concentratesCopper ores and concentrates	27.1%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form	13.7%
Copper, refined, and copper alloys, unwrought ...Copper, refined, and copper alloys, unwrought (excl. copper alloys of heading 7405)	4.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	3.3%
Flours, meals and pellets, of meat or meat offal,...Flours, meals and pellets, of meat or meat offal, of fish or of crustaceans, molluscs or other aquatic invertebrates, unfit for human consumption; greaves	3.2%
Iron ores and concentrates, incl. roasted iron...Iron ores and concentrates, incl. roasted iron pyrites	3.2%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons	3.0%
Zinc ores and concentratesZinc ores and concentrates	2.9%
Dates, figs, pineapples, avocados, guavas, mangoes...Dates, figs, pineapples, avocados, guavas, mangoes and mangosteens, fresh or dried	2.4%
Fresh strawberries, raspberries, blackberries,...Fresh strawberries, raspberries, blackberries, back, white or red currants, gooseberries and other edible fruits (excl. nuts, bananas, dates, figs, pineapples, avocados, guavas, mangoes, mangosteens, papaws "papayas", citrus fruit, grapes, melons, apples, pears, quinces, apricots, cherries, peaches, plums and sloes)	2.3%
Grapes, fresh or driedGrapes, fresh or dried	2.1%
Lead ores and concentratesLead ores and concentrates	2.1%
Molybdenum ores and concentratesMolybdenum ores and concentrates	1.6%
Unwrought tinUnwrought tin	1.5%
Precious-metal ores and concentratesPrecious-metal ores and concentrates	1.4%
Unwrought zinc :Unwrought zinc :	1.4%
Coffee, whether or not roasted or decaffeinated;...Coffee, whether or not roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion	1.3%
Molluscs, fit for human consumption, even smoked,...Molluscs, fit for human consumption, even smoked, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; flours, meals and pellets of molluscs, fit for human consumption	1.0%
Fats and oils and their fractions of fish or...Fats and oils and their fractions of fish or marine mammals, whether or not refined (excl. chemically modified)	0.9%
T-shirts, singlets and other vests, knitted or...T-shirts, singlets and other vests, knitted or crocheted	0.9%
Copper wire (excl. surgical sutures, stranded wire...Copper wire (excl. surgical sutures, stranded wire, cables, plaited bands and the like and other articles of heading 7413, electrically insulated wires and strings for musical instruments)	0.8%
Other vegetables, fresh or chilled (excl. potatoes...Other vegetables, fresh or chilled (excl. potatoes, tomatoes, alliaceous vegetables, edible brassicas, lettuce "lactuca sativa" and chicory "cichorium spp.", carrots, turnips, salad beetroot, salsify, celeriac, radishes and similar edible roots, cucumbers and gherkins, and leguminous vegatables)	0.7%
Other vegetables prepared or preserved otherwise...Other vegetables prepared or preserved otherwise than by vinegar or acetic acid, not frozen (excl. preserved by sugar, and tomatoes, mushrooms and truffles)	0.7%
Plates, sheets, film, foil and strip, of...Plates, sheets, film, foil and strip, of non-cellular plastics, not reinforced, laminated, supported or similarly combined with other materials, without backing, unworked or merely surface-worked or merely cut into squares or rectangles (excl. self-adhesive products, and floor, wall and ceiling coverings of heading 3918)	0.6%
Fruit and nuts, uncooked or cooked by steaming or...Fruit and nuts, uncooked or cooked by steaming or boiling in water, frozen, whether or not containing added sugar or other sweetening matter	0.6%
Natural calcium phosphates and natural aluminium...Natural calcium phosphates and natural aluminium calcium phosphates, natural and phosphatic chalk	0.5%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude	0.5%
Citrus fruit, fresh or driedCitrus fruit, fresh or dried	0.5%
Crustaceans, whether in shell or not, live, fresh,...Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, even smoked, incl. crustaceans in shell cooked by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption	0.4%
Silver, incl. silver plated with gold or platinum,...Silver, incl. silver plated with gold or platinum, unwrought or in semi-manufactured forms, or in powder form	0.4%
Preparations of a kind used in animal feedingPreparations of a kind used in animal feeding	0.4%
Fish fillets and other fish meat, whether or not...Fish fillets and other fish meat, whether or not minced, fresh, chilled or frozen	0.3%
Articles for the conveyance or packaging of goods,...Articles for the conveyance or packaging of goods, of plastics; stoppers, lids, caps and other closures, of plastics	0.3%
Crustaceans, molluscs and other aquatic...Crustaceans, molluscs and other aquatic invertebrates, prepared or preserved (excl. smoked)	0.3%
Men's or boys' shirts, knitted or crocheted (excl....Men's or boys' shirts, knitted or crocheted (excl. nightshirts, t-shirts, singlets and other vests)	0.3%
Cocoa beans, whole or broken, raw or roastedCocoa beans, whole or broken, raw or roasted	0.3%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304)	0.3%
Jerseys, pullovers, cardigans, waistcoats and...Jerseys, pullovers, cardigans, waistcoats and similar articles, knitted or crocheted (excl. wadded waistcoats)	0.3%
Bananas, incl. plantains, fresh or driedBananas, incl. plantains, fresh or dried	0.3%
Bars and rods, of iron or non-alloy steel, not...Bars and rods, of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but incl. those twisted after rolling (excl. in irregularly wound coils)	0.2%
Bread, pastry, cakes, biscuits and other bakers'...Bread, pastry, cakes, biscuits and other bakers' wares, whether or not containing cocoa; communion wafers, empty cachets of a kind suitable for pharmaceutical use, sealing wafers, rice paper and similar products	0.2%
Onions, shallots, garlic, leeks and other...Onions, shallots, garlic, leeks and other alliaceous vegetables, fresh or chilled	0.2%
Palm oil and its fractions, whether or not refined...Palm oil and its fractions, whether or not refined (excl. chemically modified)	0.2%
Undenatured ethyl alcohol of an alcoholic strength...Undenatured ethyl alcohol of an alcoholic strength of >= 80%; ethyl alcohol and other spirits, denatured, of any strength	0.2%
Pepper of the genus piper; dried or crushed or...Pepper of the genus piper; dried or crushed or ground fruits of the genus capsicum or of the genus pimenta	0.2%
Zinc oxide; zinc peroxideZinc oxide; zinc peroxide	0.2%
Buckwheat, millet, canary seed and other cereals ...Buckwheat, millet, canary seed and other cereals (excl. wheat and meslin, rye, barley, oats, maize, rice and grain sorghum)	0.2%
Articles of jewellery and parts thereof, of...Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (excl. articles > 100 years old)	0.2%
Prepared or preserved fish; caviar and caviar...Prepared or preserved fish; caviar and caviar substitutes prepared from fish eggs	0.2%
Ginger, saffron, turmeric "curcuma", thyme, bay...Ginger, saffron, turmeric "curcuma", thyme, bay leaves, curry and other spices (excl. pepper of the genus piper, fruit of the genus capsicum or of the genus pimenta, vanilla, cinnamon, cinnamontree flowers, cloves [wholefruit], clove stems, nutmeg, mace, cardamoms, seeds of anise, badian, fennel, coriander, cumin and caraway, and juniper berries)	0.2%
Bars, rods and profiles, of copper, n.e.s.Bars, rods and profiles, of copper, n.e.s.	0.2%
Unglazed ceramic flags and paving, hearth or wall...Unglazed ceramic flags and paving, hearth or wall tiles; unglazed ceramic mosaic cubes and the like, whether or not on a backing (excl. of siliceous fossil meals or similar siliceous earths, refractory ceramic goods, tiles specially adapted as table mats, ornamental articles and tiles specifically manufactured for stoves)	0.2%
Vegetables, fruit, nuts and other edible parts of...Vegetables, fruit, nuts and other edible parts of plants, prepared or preserved by vinegar or acetic acid	0.1%
Vegetables, uncooked or cooked by steaming or...Vegetables, uncooked or cooked by steaming or boiling in water, frozen	0.1%
Fruits, nuts and other edible parts of plants,...Fruits, nuts and other edible parts of plants, prepared or preserved, whether or not containing added sugar or other sweetening matter or spirit (excl. prepared or preserved with vinegar, preserved with sugar but not laid in syrup, and jams, fruit jellies, marmalades, fruit purée and pastes, obtained by cooking)	0.1%
Plates, sheets and strip, of copper, of a...Plates, sheets and strip, of copper, of a thickness of > 0,15 mm (excl. expanded sheet and strip copper and electrically insulated strip)	0.1%
New pneumatic tyres, of rubberNew pneumatic tyres, of rubber	0.1%
Yarn of wool or fine animal hair, put up for...Yarn of wool or fine animal hair, put up for retail sale	0.1%
Wool and fine or coarse animal hair, carded or...Wool and fine or coarse animal hair, carded or combed, incl. combed wool in fragments	0.1%
Cocoa butter, fat and oilCocoa butter, fat and oil	0.1%
Sulphuric acid; oleumSulphuric acid; oleum	0.1%
Wood, incl. strips and friezes for parquet...Wood, incl. strips and friezes for parquet flooring, not assembled, continuously shaped "tongued, grooved, rebated, chamfered, v-jointed beaded, moulded, rounded or the like" along any of its edges, ends or faces, whether or not planed, sanded or end-jointed	0.1%
Fabrics, knitted or crocheted, of a width of > 30...Fabrics, knitted or crocheted, of a width of > 30 cm (excl. warp knit fabrics "incl. those made on galloon knitting machines", those containing by weight >= 5% of elastomeric yarn or rubber thread, and pile fabrics, incl. "long pile", looped pile fabrics, labels, badges and similar articles, and knitted or crocheted fabrics, impregnated, coated, covered or laminated)	0.1%
Fruit juices, incl. grape must, and vegetable...Fruit juices, incl. grape must, and vegetable juices, unfermented, not containing added spirit, whether or not containing added sugar or other sweetening matter	0.1%
Vegetable saps and extracts; pectic substances,...Vegetable saps and extracts; pectic substances, pectinates and pectates; agar-agar and other mucilages and thickeners derived from vegetable products, whether or not modified,	0.1%
Dried leguminous vegetables, shelled, whether or...Dried leguminous vegetables, shelled, whether or not skinned or split	0.1%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006)	0.1%
Women's or girls' suits, ensembles, jackets,...Women's or girls' suits, ensembles, jackets, blazers, dresses, skirts, divided skirts, trousers, bib and brace overalls, breeches and shorts, knitted or crocheted (excl. wind-jackets and similar articles, slips, petticoats and panties, tracksuits, ski suits and swimwear)	0.1%
Malt extract; food preparations of flour, groats,...Malt extract; food preparations of flour, groats, meal, starch or malt extract, not containing cocoa or containing < 40% by weight of cocoa calculated on a totally defatted basis, n.e.s.; food preparations of milk, cream, butter milk, sour milk, sour cream, whey, yogurt, kephir, and similar goods of heading 0401 to 0404, not containing cocoa or containing < 5% by weight of cocoa calculated on a totally defatted basis, n.e.s.	0.1%
Coal; briquettes, ovoids and similar solid fuels...Coal; briquettes, ovoids and similar solid fuels manufactured from coal	0.1%
Carboys, bottles, flasks, jars, pots, phials,...Carboys, bottles, flasks, jars, pots, phials, ampoules and other containers, of glass, of a kind used for the conveyance or packing of goods, preserving jars, stoppers, lids and other closures, of glass (excl. glass envelopes and containers, with vacuum insulation, perfume atomizers, flasks, bottles etc. for atomizers)	0.1%
Waste and scrap, of copper (excl. ingots or other...Waste and scrap, of copper (excl. ingots or other similar unwrought shapes, of remelted copper waste and scrap, ashes and residues containing copper, and waste and scrap of primary cells, primary batteries and electric accumulators)	0.1%
Colour lakes (other than chinese or japanese...Colour lakes (other than chinese or japanese lacquer and paints); preparations based on colour lakes of a kind used to dye fabrics or produce colorant preparations (excl. preparations of heading 3207, 3208, 3209, 3210, 3213 and 3215)	0.1%
Colouring matter of vegetable or animal origin,...Colouring matter of vegetable or animal origin, incl. dye extracts (excl. animal black), whether or not chemically defined; preparations based on colouring matter of vegetable or animal origin of a kind used to dye fabrics or produce colorant preparations (excl. preparations of heading 3207, 3208, 3209, 3210, 3213 and 3215)	0.1%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form	0.1%
See More Products	48.6%

51.2 bn USD of products imported in 2021
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals	8.1%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528)	3.6%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude	3.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702)	2.8%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab	2.7%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s.	2.6%
Maize or cornMaize or corn	2.2%
Soya-bean oil and its fractions, whether or not...Soya-bean oil and its fractions, whether or not refined (excl. chemically modified)	1.4%
Oilcake and other solid residues, whether or not...Oilcake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil	1.4%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006)	1.3%
Self-propelled bulldozers, angledozers, graders,...Self-propelled bulldozers, angledozers, graders, levellers, scrapers, mechanical shovels, excavators, shovel loaders, tamping machines and roadrollers	1.3%
Monitors and projectors, not incorporating...Monitors and projectors, not incorporating television reception apparatus; reception apparatus for television, whether or not incorporating radio-broadcast receivers or sound or video recording or reproducing apparatus	1.2%
Wheat and meslinWheat and meslin	1.2%
Polymers of ethylene, in primary formsPolymers of ethylene, in primary forms	1.2%
New pneumatic tyres, of rubberNew pneumatic tyres, of rubber	1.1%
Polymers of propylene or of other olefins, in...Polymers of propylene or of other olefins, in primary forms	1.0%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled or cold-rolled "cold-reduced", clad, plated or coated	0.9%
Mineral or chemical nitrogenous fertilisers (excl....Mineral or chemical nitrogenous fertilisers (excl. those in pellet or similar forms, or in packages with a gross weight of <= 10 kg)	0.9%
Human blood; animal blood prepared for therapeutic...Human blood; animal blood prepared for therapeutic, prophylactic or diagnostic uses; antisera and other blood fractions and immunological products, whether or not modified or obtained by means of biotechnological processes; vaccines, toxins, cultures of micro-organisms (excl. yeasts) and similar products	0.9%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s.	0.7%
Polyacetals, other polyethers and epoxide resins,...Polyacetals, other polyethers and epoxide resins, in primary forms; polycarbonates, alkyd resins, polyallyl esters and other polyesters, in primary forms	0.7%
Motorcycles, incl. mopeds, and cycles fitted with...Motorcycles, incl. mopeds, and cycles fitted with an auxiliary motor, with or without side-cars; side-cars	0.7%
Ferrous waste and scrap; remelting scrap ingots of...Ferrous waste and scrap; remelting scrap ingots of iron or steel (excl. slag, scale and other waste from the production of iron or steel; radioactive waste and scrap; fragments of pigs, blocks or other primary forms of pig iron or spiegeleisen)	0.7%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons	0.7%
Insecticides, rodenticides, fungicides, herbicides...Insecticides, rodenticides, fungicides, herbicides, anti-sprouting products and plant-growth regulators, disinfectants and similar products, put up for retail sale or as preparations or articles, e.g. sulphur-treated bands, wicks and candles, and fly-papers	0.7%
Refrigerators, freezers and other refrigerating or...Refrigerators, freezers and other refrigerating or freezing equipment, electric or other; heat pumps; parts thereof (excl. air conditioning machines of heading 8415)	0.6%
Tractors (other than tractors of heading 8709)Tractors (other than tractors of heading 8709)	0.6%
Bars and rods, of iron or non-alloy steel, not...Bars and rods, of iron or non-alloy steel, not further worked than forged, hot-rolled, hot-drawn or hot-extruded, but incl. those twisted after rolling (excl. in irregularly wound coils)	0.6%
Food preparations, n.e.s.Food preparations, n.e.s.	0.6%
Centrifuges, incl. centrifugal dryers (excl. those...Centrifuges, incl. centrifugal dryers (excl. those for isotope separation); filtering or purifying machinery and apparatus, for liquids or gases; parts thereof (excl. artificial kidneys)	0.6%
Insulated "incl. enamelled or anodised" wire,...Insulated "incl. enamelled or anodised" wire, cable "incl. coaxial cable" and other insulated electric conductors, whether or not fitted with connectors; optical fibre cables, made up of individually sheathed fibres, whether or not assembled with electric conductors or fitted with connectors	0.6%
Instruments and appliances used in medical,...Instruments and appliances used in medical, surgical, dental or veterinary sciences, incl. scintigraphic apparatus, other electro-medical apparatus and sight-testing instruments, n.e.s.	0.6%
Other bars and rods of alloy steel other than...Other bars and rods of alloy steel other than stainless, angles, shapes and sections of alloy steel other than stainless, n.e.s.; hollow drill bars and rods, of alloy or non-alloy steel	0.5%
Polymers of vinyl chloride or of other halogenated...Polymers of vinyl chloride or of other halogenated olefins, in primary forms	0.5%
Machinery for sorting, screening, separating,...Machinery for sorting, screening, separating, washing, crushing, grinding, mixing or kneading earth, stone, ores or other mineral substances, in solid, incl. powder or paste, form; machinery for agglomerating, shaping or moulding solid mineral fuels, ceramic paste, unhardened cements, plastering materials or other mineral products in powder or paste form; machines for forming foundry moulds of sand; parts thereof	0.5%
Taps, cocks, valves and similar appliances for...Taps, cocks, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, incl. pressure-reducing valves and thermostatically controlled valves; parts thereof	0.5%
Pumps for liquids, whether or not fitted with a...Pumps for liquids, whether or not fitted with a measuring device (excl. ceramic pumps and secretion aspirating pumps for medical use and medical pumps carried on or implanted in the body); liquid elevators (excl. pumps); parts thereof	0.5%
Semi-finished products of iron or non-alloy steelSemi-finished products of iron or non-alloy steel	0.5%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with the machinery of heading 8425 to 8430, n.e.s.	0.5%
Unglazed ceramic flags and paving, hearth or wall...Unglazed ceramic flags and paving, hearth or wall tiles; unglazed ceramic mosaic cubes and the like, whether or not on a backing (excl. of siliceous fossil meals or similar siliceous earths, refractory ceramic goods, tiles specially adapted as table mats, ornamental articles and tiles specifically manufactured for stoves)	0.5%
Transmission shafts, incl. camshafts and...Transmission shafts, incl. camshafts and crankshafts, and cranks; bearing housings and plain shaft bearings for machines; gears and gearing; ball or roller screws, gear boxes and other speed changers, incl. torque converters; flywheels and pulleys, incl. pulley blocks, clutches and shaft couplings, incl. universal joints; parts thereof	0.5%
Footwear with outer soles of rubber, plastics,...Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of textile materials (excl. toy footwear)	0.5%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled, not clad, plated or coated	0.5%
Articles of plastics and articles of other...Articles of plastics and articles of other materials of heading 3901 to 3914, n.e.s.	0.4%
Preparations of a kind used in animal feedingPreparations of a kind used in animal feeding	0.4%
Printing machinery used for printing by means of...Printing machinery used for printing by means of plates, cylinders and other printing components of heading 8442 (excl. hectograph or stencil duplicating machines, addressing machines and other office printing machines of heading 8469 to 8472); other printers, copying machines and facsimile machines, whether or not combined; parts thereof	0.4%
Cotton yarn other than sewing thread, containing >...Cotton yarn other than sewing thread, containing >= 85% cotton by weight (excl. that put up for retail sale)	0.4%
Mineral or chemical fertilisers containing two or...Mineral or chemical fertilisers containing two or three of the fertilising elements nitrogen, phosphorus and potassium; other fertilisers (excl. pure animal or vegetable fertilisers or mineral or chemical nitrogenous, phosphatic or potassic fertilisers); animal, vegetable, mineral or chemical fertilisers in tablets or similar forms or in packages of a gross weight of <= 10 kg	0.4%
Particle board, oriented strand board "osb" and...Particle board, oriented strand board "osb" and similar board "e.g. waferboard" of wood or other ligneous materials, whether or not agglomerated with resins or other organic binding substances (excl. fibreboard, veneered particle board, cellular wood panels and board of ligneous materials agglomerated with cement, plaster or other mineral bonding agents)	0.4%
Air or vacuum pumps (excl. gas compound elevators...Air or vacuum pumps (excl. gas compound elevators and pneumatic elevators and conveyors); air or other gas compressors and fans; ventilating or recycling hoods incorporating a fan, whether or not fitted with filters; parts thereof	0.4%
Milk and cream, concentrated or containing added...Milk and cream, concentrated or containing added sugar or other sweetening matter	0.4%
Tricycles, scooters, pedal cars and similar...Tricycles, scooters, pedal cars and similar wheeled toys; dolls' carriages; dolls; other toys; reduced-size "scale" recreational models, working or not; puzzles of all kinds	0.4%
Prepared binders for foundry moulds or cores;...Prepared binders for foundry moulds or cores; chemical products and preparations for the chemical or allied industries, incl. mixtures of natural products, n.e.s.	0.4%
Lifting, handling, loading or unloading machinery,...Lifting, handling, loading or unloading machinery, e.g. lifts, escalators, conveyors, teleferics (excl. pulley tackle and hoists, winches and capstans, jacks, cranes of all kinds, mobile lifting frames and straddle carriers, works trucks fitted with a crane, fork-lift trucks and other works trucks fitted with lifting or handling equipment)	0.4%
Electrical apparatus for switching or protecting...Electrical apparatus for switching or protecting electrical circuits, or for making connections to or in electrical circuits, e.g., switches, relays, fuses, surge suppressors, plugs, sockets, lamp holders and junction boxes, for a voltage <= 1.000 v (excl. control desks, cabinets, panels etc. of heading 8537)	0.4%
Plates, sheets, film, foil and strip, of...Plates, sheets, film, foil and strip, of non-cellular plastics, not reinforced, laminated, supported or similarly combined with other materials, without backing, unworked or merely surface-worked or merely cut into squares or rectangles (excl. self-adhesive products, and floor, wall and ceiling coverings of heading 3918)	0.3%
Articles of iron or steel, n.e.s. (excl. cast...Articles of iron or steel, n.e.s. (excl. cast articles)	0.3%
Cement, incl. cement clinkers, whether or not...Cement, incl. cement clinkers, whether or not coloured	0.3%
Structures and parts of structures "e.g., bridges...Structures and parts of structures "e.g., bridges and bridge-sections, lock-gates, towers, lattice masts, roofs, roofing frameworks, doors and windows and their frames and thresholds for doors, shutters, balustrades, pillars and columns", of iron or steel; plates, rods, angles, shapes, sections, tubes and the like, prepared for use in structures, of iron or steel (excl. prefabricated buildings of heading 9406)	0.3%
RiceRice	0.3%
Parts suitable for use solely or principally with...Parts suitable for use solely or principally with internal combustion piston engine of heading 8407 or 8408	0.3%
Undenatured ethyl alcohol of an alcoholic strength...Undenatured ethyl alcohol of an alcoholic strength of >= 80%; ethyl alcohol and other spirits, denatured, of any strength	0.3%
Footwear with outer soles and uppers of rubber or...Footwear with outer soles and uppers of rubber or plastics (excl. waterproof footwear of heading 6401, orthopaedic footwear, skating boots with ice or roller skates attached, and toy footwear)	0.3%
Tools for working in the hand, pneumatic,...Tools for working in the hand, pneumatic, hydraulic or with self-contained electric or non-electric motor; parts thereof	0.3%
Screws, bolts, nuts, coach screws, screw hooks,...Screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter pins, washers, incl. spring washers, and similar articles, of iron or steel (excl. lag screws, stoppers, plugs and the like, threaded)	0.3%
Soya beans, whether or not brokenSoya beans, whether or not broken	0.3%
Tubes, pipes and hollow profiles "e.g., open seam...Tubes, pipes and hollow profiles "e.g., open seam or welded, riveted or similarly closed", of iron or steel (excl. of cast iron, seamless tubes and pipes and tubes having internal and external circular cross-sections and an external diameter of > 406,4 mm)	0.3%
Furniture and parts thereof, n.e.s. (excl. seats...Furniture and parts thereof, n.e.s. (excl. seats and medical, surgical, dental or veterinary furniture)	0.3%
Electrical transformers, static converters, e.g....Electrical transformers, static converters, e.g. rectifiers, and inductors; parts thereof	0.3%
Float glass and surface ground or polished glass,...Float glass and surface ground or polished glass, in sheets, whether or not having an absorbent, reflecting or non-reflecting layer, but not otherwise worked	0.3%
Articles for the conveyance or packaging of goods,...Articles for the conveyance or packaging of goods, of plastics; stoppers, lids, caps and other closures, of plastics	0.3%
Meat and edible offal of fowls of the species...Meat and edible offal of fowls of the species gallus domesticus, ducks, geese, turkeys and guinea fowls, fresh, chilled or frozen	0.3%
Made-up articles of textile materials, incl. dress...Made-up articles of textile materials, incl. dress patterns, n.e.s.	0.3%
Preparations for use on the hairPreparations for use on the hair	0.3%
Electric instantaneous or storage water heaters...Electric instantaneous or storage water heaters and immersion heaters; electric space-heating apparatus and soil-heating apparatus; electro-thermic hairdressing apparatus, e.g. hairdryers, hair curlers and curling tong heaters, and hand dryers; electric smoothing irons; other electro-thermic appliances of a kind used for domestic purposes; electric heating resistors (other than those of heading 8545); parts thereof	0.3%
Organic surface-active agents (excl. soap);...Organic surface-active agents (excl. soap); surface-active preparations, washing preparations, incl. auxiliary washing preparations, and cleaning preparations, whether or not containing soap (excl. those of heading 3401)	0.3%
Biodiesel and mixtures thereof, not containing or...Biodiesel and mixtures thereof, not containing or containing < 70 % by weight of petroleum oils or oils obtained from bituminous minerals	0.3%
Motor vehicles for the transport of >= 10 persons,...Motor vehicles for the transport of >= 10 persons, incl. driver	0.3%
Synthetic filament yarn, incl. synthetic...Synthetic filament yarn, incl. synthetic monofilaments of < 67 decitex (excl. sewing thread and yarn put up for retail sale)	0.3%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width of >= 600 mm, cold-rolled "cold-reduced", not clad, plated or coated	0.3%
Beauty or make-up preparations and preparations...Beauty or make-up preparations and preparations for the care of the skin, incl. sunscreen or suntan preparations (excl. medicaments); manicure or pedicure preparations	0.3%
Household or laundry-type washing machines, incl....Household or laundry-type washing machines, incl. machines which both wash and dry; parts thereof	0.3%
Cotton, neither carded nor combedCotton, neither carded nor combed	0.2%
Tubes, pipes and hoses, and fittings therefor, e.g...Tubes, pipes and hoses, and fittings therefor, e.g. joints, elbows, flanges, of plastics	0.2%
Seats, whether or not convertible into beds, and...Seats, whether or not convertible into beds, and parts thereof, n.e.s. (excl. medical, surgical, dental or veterinary of heading 9402)	0.2%
Parts and accessories for motorcycles and bicycles...Parts and accessories for motorcycles and bicycles and for carriages for disabled persons, n.e.s.	0.2%
Flat-rolled products of alloy steel other than...Flat-rolled products of alloy steel other than stainless, of a width of >= 600 mm, hot-rolled or cold-rolled "cold-reduced"	0.2%
Bars and rods of iron or non-alloy steel,...Bars and rods of iron or non-alloy steel, hot-rolled, in irregularly wound coils	0.2%
Diagnostic or laboratory reagents on a backing,...Diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, and certified reference materials (excl. compound diagnostic reagents designed to be administered to the patient, blood-grouping reagents, animal blood prepared for therapeutic, prophylactic or diagnostic uses and vaccines, toxins, cultures of micro-organisms and similar products)	0.2%
Instruments and apparatus for physical or chemical...Instruments and apparatus for physical or chemical analysis, e.g. polarimeters, refractometers, spectrometers, gas or smoke analysis apparatus; instruments and apparatus for measuring or checking viscosity, porosity, expansion, surface tension or the like; instruments and apparatus for measuring or checking quantities of heat, sound or light, incl. exposure meters; microtomes	0.2%
Lamps and lighting fittings, incl. searchlights...Lamps and lighting fittings, incl. searchlights and spotlights, and parts thereof, n.e.s; illuminated signs, illuminated nameplates and the like having a permanently fixed light source, and parts thereof, n.e.s.	0.2%
Uncoated kraft paper and paperboard, in rolls of a...Uncoated kraft paper and paperboard, in rolls of a width > 36 cm or in square or rectangular sheets with one side > 36 cm and the other side > 15 cm in the unfolded state (excl. goods of heading 4802 or 4803)	0.2%
Microphones and stands therefor (excl. cordless...Microphones and stands therefor (excl. cordless microphones with built-in transmitter); loudspeakers, whether or not mounted in their enclosures; headphones and earphones, whether or not combined with a microphone, and sets consisting of a microphone and one or more loudspeakers (excl. telephone sets, hearing aids and helmets with built-in headphones, whether or not incorporating a microphone); audio-frequency electric amplifiers; electric sound amplifier sets; parts thereof	0.2%
Moving, grading, levelling, scraping, excavating,...Moving, grading, levelling, scraping, excavating, tamping, compacting, extracting or boring machinery, for earth, minerals or ores; pile-drivers and pile-extractors; snowploughs and snowblowers (excl. those mounted on railway wagons, motor vehicle chassis or lorries, self-propelled machinery of heading 8429, lifting, handling, loading or unloading machinery of heading 8425 to 8428 and hand-operated tools)	0.2%
Electric accumulators, incl. separators therefor,...Electric accumulators, incl. separators therefor, whether or not square or rectangular; parts thereof (excl. spent and those of unhardened rubber or textiles)	0.2%
Bars and rods of alloy steel other than stainless,...Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils	0.2%
Machinery, plant or laboratory equipment whether...Machinery, plant or laboratory equipment whether or not electrically heated (excl. furnaces, ovens and other equipment of heading 8514), for the treatment of materials by a process involving a change of temperature such as heating, cooking, roasting, distilling, rectifying, sterilising, pasteurising, steaming, drying, evaporating, vaporising, condensing or cooling (excl. those used for domestic purposes); instantaneous or storage water heaters, non-electric; parts thereof	0.2%
Mechanical appliances, whether or not...Mechanical appliances, whether or not hand-operated, for projecting, dispersing or spraying liquids or powders, n.e.s.; fire extinguishers, charged or not (excl. fire-extinguishing bombs and grenades); spray guns and similar appliances (excl. electric machines and apparatus for hot spraying of metals or sintered metal carbides of heading 8515); steam or sand blasting machines and similar jet projecting machines; parts thereof, n.e.s.	0.2%
Tools, interchangeable, for hand tools, whether or...Tools, interchangeable, for hand tools, whether or not power-operated, or for machine tools "e.g. for pressing, stamping, punching, tapping, threading, drilling, boring, broaching, milling, turning or screw driving", incl. dies for drawing or extruding metal, and rock-drilling or earth-boring tools	0.2%
Dishwashing machines; machinery for cleaning or...Dishwashing machines; machinery for cleaning or drying bottles or other containers; machinery for filling, closing, sealing or labelling bottles, cans, boxes, bags or other containers; machinery for capsuling bottles, jars, tubes and similar containers; other packing or wrapping machinery, incl. heat-shrink wrapping machinery; machinery for aerating beverages; parts thereof	0.2%
Trunks, suitcases, vanity cases, executive-cases,...Trunks, suitcases, vanity cases, executive-cases, briefcases, school satchels, spectacle cases, binocular cases, camera cases, musical instrument cases, gun cases, holsters and similar containers; travelling-bags, insulated food or beverage bags, toilet bags, rucksacks, handbags, shopping-bags, wallets, purses, map-cases, cigarette-cases, tobacco-pouches, tool bags, sports bags, bottle-cases, jewellery boxes, powder-boxes, cutlery cases and similar containers, of leather or of composition leather, of sheeting of plastics, of textile materials, of vulcanised fibre or of paperboard, or wholly or mainly covered with such materials or with paper	0.2%
Soap; organic surface-active products and...Soap; organic surface-active products and preparations for use as soap, in the form of bars, cakes, moulded pieces or shapes, whether or not containing soap; organic surface-active products and preparations for washing the skin, in the form of liquid or cream and put up for retail sale, whether or not containing soap; paper, wadding, felt and nonwovens, impregnated, coated or covered with soap or detergent	0.2%
Uncoated paper and paperboard, of a kind used for...Uncoated paper and paperboard, of a kind used for writing, printing or other graphic purposes, and non-perforated punchcards and punch-tape paper, in rolls or in square or rectangular sheets, of any size, and handmade paper and paperboard (excl. newsprint of heading 4801 and paper of heading 4803)	0.2%
Cyanides, cyanide oxides and complex cyanidesCyanides, cyanide oxides and complex cyanides	0.2%
Mixtures of odoriferous substances and mixtures,...Mixtures of odoriferous substances and mixtures, incl. alcoholic solutions, based on one or more of these substances, of a kind used as raw materials in industry; other preparations based on odoriferous substances, of a kind used for the manufacture of beverages	0.2%
Woven fabrics of synthetic filament yarn, incl....Woven fabrics of synthetic filament yarn, incl. monofilament of >= 67 decitex and with a cross sectional dimension of <= 1 mm	0.2%
Mechano-therapy appliances; massage apparatus;...Mechano-therapy appliances; massage apparatus; psychological aptitude-testing apparatus; ozone therapy, oxygen therapy, aerosol therapy, artificial respiration or other therapeutic respiration apparatus	0.2%
Ball or roller bearings (excl. steel balls of...Ball or roller bearings (excl. steel balls of heading 7326); parts thereof	0.2%
Malt extract; food preparations of flour, groats,...Malt extract; food preparations of flour, groats, meal, starch or malt extract, not containing cocoa or containing < 40% by weight of cocoa calculated on a totally defatted basis, n.e.s.; food preparations of milk, cream, butter milk, sour milk, sour cream, whey, yogurt, kephir, and similar goods of heading 0401 to 0404, not containing cocoa or containing < 5% by weight of cocoa calculated on a totally defatted basis, n.e.s.	0.2%
Articles of apparel and clothing accessories, incl...Articles of apparel and clothing accessories, incl. gloves, mittens and mitts, for all purposes, of vulcanised rubber (excl. hard rubber and footwear and headgear and parts thereof)	0.2%
Stoves, ranges, grates, cookers, incl. those with...Stoves, ranges, grates, cookers, incl. those with subsidiary boilers for central heating, barbecues, braziers, gas rings, plate warmers and similar non-electric domestic appliances, and parts thereof of iron or steel (excl. boilers and radiators for central heating, geysers and hot water cylinders)	0.2%
Sanitary towels (pads) and tampons, napkins and...Sanitary towels (pads) and tampons, napkins and napkin liners for babies, and similar articles, of any material	0.2%
Prepared or preserved fish; caviar and caviar...Prepared or preserved fish; caviar and caviar substitutes prepared from fish eggs	0.2%
Self-adhesive plates, sheets, film, foil, tape,...Self-adhesive plates, sheets, film, foil, tape, strip and other flat shapes, of plastics, whether or not in rolls (excl. floor, wall and ceiling coverings of heading 3918)	0.2%
Cane or beet sugar and chemically pure sucrose, in...Cane or beet sugar and chemically pure sucrose, in solid form	0.2%
Paper and paperboard, coated on one or both sides...Paper and paperboard, coated on one or both sides with kaolin "china clay" or other inorganic substances, with or without a binder, and with no other coating, whether or not surface-coloured, surface-decorated or printed, in rolls or in square or rectangular sheets, of any size (excl. all other coated papers and paperboards)	0.2%
Chemical wood pulp, soda or sulphate (excl....Chemical wood pulp, soda or sulphate (excl. dissolving grades)	0.2%
Boards, panels, consoles, desks, cabinets and...Boards, panels, consoles, desks, cabinets and other bases, equipped with two or more apparatus of heading 8535 or 8536, for electric control or the distribution of electricity, incl. those incorporating instruments or apparatus of chapter 90, and numerical control apparatus (excl. switching apparatus for line telephony or line telegraphy)	0.2%
Synthetic organic colouring matter, whether or not...Synthetic organic colouring matter, whether or not chemically defined; preparations based on synthetic organic colouring matter of a kind used to dye fabrics or produce colorant preparations; synthetic organic products of a kind used as fluorescent brightening agents or as luminophores, whether or not chemically defined (excl. preparations of heading 3207, 3208, 3209, 3210, 3213 and 3215)	0.2%
Polymers of styrene, in primary formsPolymers of styrene, in primary forms	0.2%
Dried leguminous vegetables, shelled, whether or...Dried leguminous vegetables, shelled, whether or not skinned or split	0.2%
Machines and mechanical appliances having...Machines and mechanical appliances having individual functions, not specified or included elsewhere in this chapter; parts thereof	0.2%
Articles of vulcanised rubber (excl. hard rubber),...Articles of vulcanised rubber (excl. hard rubber), n.e.s.	0.2%
Angles, shapes and sections of iron or non-alloy...Angles, shapes and sections of iron or non-alloy steel, n.e.s.	0.2%
Discs, tapes, solid-state non-volatile storage...Discs, tapes, solid-state non-volatile storage devices, "smart cards" and other media for the recording of sound or of other phenomena, whether or not recorded, incl. matrices and masters for the production of discs (excl. products of chapter 37)	0.2%
Nonwovens, whether or not impregnated, coated,...Nonwovens, whether or not impregnated, coated, covered or laminated, n.e.s.	0.2%
Machinery for working rubber or plastics or for...Machinery for working rubber or plastics or for the manufacture of products from these materials, not specified or included elsewhere in this chapter, parts thereof	0.2%
Mineral or chemical potassic fertilisers (excl....Mineral or chemical potassic fertilisers (excl. those in tablets or similar forms, or in packages with a gross weight of <= 10 kg)	0.2%
Bars, rods and profiles, of aluminium, n.e.s.Bars, rods and profiles, of aluminium, n.e.s.	0.2%
Electric motors and generators (excl. generating...Electric motors and generators (excl. generating sets)	0.2%
T-shirts, singlets and other vests, knitted or...T-shirts, singlets and other vests, knitted or crocheted	0.2%
Extracts, essences and concentrates, of coffee,...Extracts, essences and concentrates, of coffee, tea or maté and preparations with a basis of these products or with a basis of coffee, tea or mate; roasted chicory and other roasted coffee substitutes, and extracts, essences and concentrates thereof	0.2%
Articles and equipment for general physical...Articles and equipment for general physical exercise, gymnastics, athletics, other sports, incl. table-tennis, or outdoor games, not specified or included in this chapter or elsewhere; swimming pools and paddling pools.	0.1%
Crustaceans, whether in shell or not, live, fresh,...Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine, even smoked, incl. crustaceans in shell cooked by steaming or by boiling in water; flours, meals and pellets of crustaceans, fit for human consumption	0.1%
Acrylic polymers, in primary formsAcrylic polymers, in primary forms	0.1%
Acyclic alcohols and their halogenated,...Acyclic alcohols and their halogenated, sulphonated, nitrated or nitrosated derivatives	0.1%
Reception apparatus for radio-broadcasting,...Reception apparatus for radio-broadcasting, whether or not combined, in the same housing, with sound recording or reproducing apparatus or a clock	0.1%
Electromechanical domestic appliances, with...Electromechanical domestic appliances, with self-contained electric motor; parts thereof (excl. vacuum cleaners, dry and wet vacuum cleaners)	0.1%
Fibreboard of wood or other ligneous materials,...Fibreboard of wood or other ligneous materials, whether or not agglomerated with resins or other organic bonding agents (excl. particle board, whether or not bonded with one or more sheets of fibreboard; laminated wood with a layer of plywood; composite panels with outer layers of fibreboard; paperboard; furniture components identifiable as such)	0.1%
Jerseys, pullovers, cardigans, waistcoats and...Jerseys, pullovers, cardigans, waistcoats and similar articles, knitted or crocheted (excl. wadded waistcoats)	0.1%
Paper, paperboard, cellulose wadding and webs of...Paper, paperboard, cellulose wadding and webs of cellulose fibres, coated, impregnated, covered, surface-coloured, surface-decorated or printed, in rolls or in square or rectangular sheets, of any size (excl. goods of heading 4803, 4809 and 4810)	0.1%
Yarn of synthetic staple fibres (excl. sewing...Yarn of synthetic staple fibres (excl. sewing thread and yarn put up for retail sale)	0.1%
Compression-ignition internal combustion piston...Compression-ignition internal combustion piston engine "diesel or semi-diesel engine"	0.1%
Other paper and paperboard, uncoated, in rolls of...Other paper and paperboard, uncoated, in rolls of a width > 36 cm or in square or rectangular sheets with one side > 36 cm and the other side > 15 cm in the unfolded state, not worked other than as specified in note 3 to this chapter, n.e.s.	0.1%
Parts and accessories (other than covers, carrying...Parts and accessories (other than covers, carrying cases and the like) suitable for use solely or principally with machines of heading 8469 to 8472, n.e.s.	0.1%
Copper ores and concentratesCopper ores and concentrates	0.1%
Bedlinen, table linen, toilet linen and kitchen...Bedlinen, table linen, toilet linen and kitchen linen of all types of textile materials (excl. floorcloths, polishing cloths, dishcloths and dusters)	0.1%
Plates, sheets, film, foil and strip, of plastics,...Plates, sheets, film, foil and strip, of plastics, reinforced, laminated, supported or similarly combined with other materials, or of cellular plastic, unworked or merely surface-worked or merely cut into squares or rectangles (excl. self-adhesive products, floor, wall and ceiling coverings of heading 3918)	0.1%
Transmission apparatus for radio-broadcasting or...Transmission apparatus for radio-broadcasting or television, whether or not incorporating reception apparatus or sound recording or reproducing apparatus; television cameras, digital cameras and video camera recorders	0.1%
Bicycles and other cycles, incl. delivery...Bicycles and other cycles, incl. delivery tricycles, not motorised	0.1%
Nitrile-function compoundsNitrile-function compounds	0.1%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304)	0.1%
Trailers and semi-trailers; other vehicles, not...Trailers and semi-trailers; other vehicles, not mechanically propelled (excl. railway and tramway vehicles); parts thereof, n.e.s.	0.1%
Apparatus based on the use of x-rays or of alpha,...Apparatus based on the use of x-rays or of alpha, beta or gamma radiations, whether or not for medical, surgical, dental or veterinary uses, incl. radiography or radiotherapy apparatus, x-ray tubes and other x-ray generators, high tension generators, control panels and desks, screens, examination or treatment tables, chairs and the like	0.1%
Electric filament or discharge lamps, incl. sealed...Electric filament or discharge lamps, incl. sealed beam lamp units and ultraviolet or infra-red lamps; arc lamps; parts thereof	0.1%
Mattress supports (excl. spring interiors for...Mattress supports (excl. spring interiors for seats); articles of bedding and similar furnishing, e.g. mattresses, quilts, eiderdowns, cushions, pouffes and pillows, fitted with springs or stuffed or internally filled with any material or of cellular rubber or plastics, whether or not covered (excl. pneumatic or water mattresses and pillows, blankets and covers)	0.1%
Saturated acyclic monocarboxylic acids and their...Saturated acyclic monocarboxylic acids and their anhydrides, halides, peroxides and peroxyacids; their halogenated, sulphonated, nitrated or nitrosated derivatives	0.1%
Stoppers, caps and lids, incl. crown corks, screw...Stoppers, caps and lids, incl. crown corks, screw caps and pouring stoppers, capsules for bottles, threaded bungs, bung covers, seals and other packing accessories, of base metal	0.1%
Polycarboxylic acids, their anhydrides, halides,...Polycarboxylic acids, their anhydrides, halides, peroxides and peroxyacids; their halogenated, sulphonated, nitrated or nitrosated derivatives	0.1%
Tubes, pipes and hollow profiles, seamless, of...Tubes, pipes and hollow profiles, seamless, of iron or steel (excl. products of cast iron)	0.1%
Electrical machines and apparatus, having...Electrical machines and apparatus, having individual functions, n.e.s. in chapter 85 and parts thereof	0.1%
Special purpose motor vehicles (other than those...Special purpose motor vehicles (other than those principally designed for the transport of persons or goods), e.g. breakdown lorries, crane lorries, fire fighting vehicles, concrete-mixer lorries, road sweeper lorries, spraying lorries, mobile workshops and mobile radiological units	0.1%
Tube or pipe fittings "e.g. couplings, elbows,...Tube or pipe fittings "e.g. couplings, elbows, sleeves", of iron or steel	0.1%
Base metal mountings, fittings and similar...Base metal mountings, fittings and similar articles suitable for furniture, doors, staircases, windows, blinds, coachwork, saddlery, trunks, chests, caskets or the like; base metal hat-racks, hat-pegs, brackets and similar fixtures; castors with mountings of base metal; automatic door closers of base metal	0.1%
Preparations for oral or dental hygiene, incl....Preparations for oral or dental hygiene, incl. denture fixative pastes and powders; yarn used to clean between the teeth "dental floss", in individual retail packages	0.1%
Inorganic or mineral colouring matter, n.e.s.;...Inorganic or mineral colouring matter, n.e.s.; preparations based on inorganic or mineral colouring matter of a kind used for colouring any material or produce colorant preparations (excl. preparations of heading 3207, 3208, 3209, 3210, 3213 and 3215); inorganic products of a kind used as luminophores, whether or not chemically defined	0.1%
Paints and varnishes, incl. enamels and lacquers,...Paints and varnishes, incl. enamels and lacquers, based on synthetic polymers or chemically modified natural polymers, dispersed or dissolved in a non-aqueous medium; solutions of products of headings 3901 to 3913 in volatile organic solvents, containing > 50% solvent by weight (excl. solutions of collodion)	0.1%
Flat-rolled products of stainless steel, of a...Flat-rolled products of stainless steel, of a width of >= 600 mm, hot-rolled or cold-rolled "cold-reduced"	0.1%
Spark-ignition reciprocating or rotary internal...Spark-ignition reciprocating or rotary internal combustion piston engine	0.1%
Ferro-alloysFerro-alloys	0.1%
Oxygen-function amino-compoundsOxygen-function amino-compounds	0.1%
Footwear with outer soles of rubber, plastics,...Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of leather (excl. orthopaedic footwear, skating boots with ice or roller skates attached, and toy footwear)	0.1%
Apples, pears and quinces, freshApples, pears and quinces, fresh	0.1%
Tableware, kitchenware, other household articles...Tableware, kitchenware, other household articles and toilet articles, of plastics (excl. baths, shower-baths, washbasins, bidets, lavatory pans, seats and covers, flushing cisterns and similar sanitary ware)	0.1%
Engines and motors (excl. steam turbines, internal...Engines and motors (excl. steam turbines, internal combustion piston engine, hydraulic turbines, water wheels, gas turbines and electric motors); parts thereof	0.1%
Conveyor or transmission belts or belting, of...Conveyor or transmission belts or belting, of vulcanised rubber	0.1%
Pig iron and spiegeleisen, in pigs, blocks or...Pig iron and spiegeleisen, in pigs, blocks or other primary forms	0.1%
Table, kitchen or other household articles, and...Table, kitchen or other household articles, and parts thereof, of iron or steel; iron or steel wool; pot scourers and scouring or polishing pads, gloves and the like, of iron or steel (excl. cans, boxes and similar containers of heading 7310; waste baskets; shovels, corkscrews and other articles of the nature of a work implement; articles of cutlery, spoons, ladles, forks etc. of heading 8211 to 8215; ornamental articles; sanitary ware)	0.1%
Wood sawn or chipped lengthwise, sliced or peeled,...Wood sawn or chipped lengthwise, sliced or peeled, whether or not planed, sanded or end-jointed, of a thickness of > 6 mm	0.1%
Electronic integrated circuits; parts thereofElectronic integrated circuits; parts thereof	0.1%
Organo-sulphur compoundsOrgano-sulphur compounds	0.1%
Synthetic staple fibres, not carded, combed or...Synthetic staple fibres, not carded, combed or otherwise processed for spinning	0.1%
Mixed alkylbenzenes and mixed alkylnaphthalenes...Mixed alkylbenzenes and mixed alkylnaphthalenes produced by the alkylation of benzene and naphthalene (excl. mixed isomers of cyclic hydrocarbons)	0.1%
Fork-lift trucks; other works trucks fitted with...Fork-lift trucks; other works trucks fitted with lifting or handling equipment (excl. straddle carriers and works trucks fitted with a crane)	0.1%
Perfumes and toilet waters (excl. aftershave...Perfumes and toilet waters (excl. aftershave lotions, personal deodorants and hair lotions)	0.1%
Prepared glues and other prepared adhesives, n.e.s...Prepared glues and other prepared adhesives, n.e.s.; products suitable for use as glues or adhesives, put up for retail sale as glues or adhesives, and weighing net <= 1 kg	0.1%
Fabrics, knitted or crocheted, of a width of > 30...Fabrics, knitted or crocheted, of a width of > 30 cm (excl. warp knit fabrics "incl. those made on galloon knitting machines", those containing by weight >= 5% of elastomeric yarn or rubber thread, and pile fabrics, incl. "long pile", looped pile fabrics, labels, badges and similar articles, and knitted or crocheted fabrics, impregnated, coated, covered or laminated)	0.1%
Plywood, veneered panel and similar laminated wood...Plywood, veneered panel and similar laminated wood (excl. sheets of compressed wood, cellular wood panels, parquet panels or sheets, inlaid wood and sheets identifiable as furniture components)	0.1%
Chocolate and other food preparations containing...Chocolate and other food preparations containing cocoa	0.1%
Lubricant preparations, incl. cutting-oil...Lubricant preparations, incl. cutting-oil preparations, bolt or nut release preparations, anti-rust or anti-corrosion preparations and mould-release preparations based on lubricants; textile lubricant preparations and preparations of a kind used for the oil or grease treatment of textile materials, leather, furskins or other materials (excl. preparations containing, as basic constituents, >= 70% petroleum oil or bituminous mineral oil by weight)	0.1%
Knitted or crocheted fabrics, of a width > 30 cm,...Knitted or crocheted fabrics, of a width > 30 cm, containing by weight >= 5% of elastomeric yarn or rubber thread (excl. pile fabrics, incl. "long pile", looped pile fabrics, labels, badges and similar articles, and knitted or crocheted fabrics, impregnated, coated, covered or laminated)	0.1%
Women's or girls' suits, ensembles, jackets,...Women's or girls' suits, ensembles, jackets, blazers, dresses, skirts, divided skirts, trousers, bib and brace overalls, breeches and shorts (excl. knitted or crocheted, wind-jackets and similar articles, slips, petticoats and panties, tracksuits, ski suits and swimwear)	0.1%
See More Products	79.2%

Source: Comtrade, Latest Available Data

To go further, check out our service Import Export Flows.

Main Services

7.4 bn USD of services exported in 2018
TravelTravel +	53.60%
Personal travelPersonal travel	53.60%
TransportationTransportation	21.87%
Other business servicesOther business services	9.32%
Insurance servicesInsurance services	9.25%
Government servicesGovernment services	2.25%
Computer and information servicesComputer and information services	2.21%
Financial servicesFinancial services	1.00%
Royalties and license feesRoyalties and license fees	0.35%
Cultural and recreational servicesCultural and recreational services	0.15%

9.9 bn USD of services imported in 2018
TransportationTransportation	29.41%
TravelTravel +	26.97%
Personal travelPersonal travel	26.97%
Other business servicesOther business services	16.34%
Insurance servicesInsurance services	10.63%
Computer and information servicesComputer and information services	8.71%
Royalties and license feesRoyalties and license fees	3.53%
Financial servicesFinancial services	2.29%
Government servicesGovernment services	1.80%
Cultural and recreational servicesCultural and recreational services	0.32%

Source: United Nations Statistics Division, Latest Available Data

Sources of General Economic Information

Ministries: Official list of ministries (in Spanish)
Ministry of Economy and Finances (in Spanish)
Ministry of Foreign Trade and Tourism (in Spanish)
Ministry of Foreign Relations (in Spanish)
Ministry of Agrarian Development and Irrigation (in Spanish)
Ministry of Energy and Mines (in Spanish)
Ministry of Development and Social Inclusion (in Spanish)
Statistical Office: National Institute of Statistics (in Spanish)
Central Bank: Central Reserve Bank of Peru
Stock Exchange: Lima Stock Exchange (in Spanish)
Search Engines: The Search Beat
Peruvian general search engine
Economic Portals: Business News Americas
Observatório de la Economía de Perú
Economía latino-americana

Political Outline

Current Political Leaders: President: Dina Boluarte (since 7 December 2022)
Vice President: Vacant (since 7 December 2022)
Prime Minister: Alberto Otárola (since 21 December 2022)
Next Election Dates: Presidential: 2026
Congress of the Republic of Peru: 2026
Main Political Parties: Peru has a multi-party system and it is difficult for a single political party to secure an absolute majority in the Congress. Thus, political groups often work with each other to form coalition alliances consisting of smaller parties. The main parliamentary forces to secure above 10 seats the country are:
- Free Peru (PL): left-wing to far-left, socialism, Marxism
- Popular Force (FP): right-wing, fujimorism, conservatism, right-wing populism
- Popular Renewal (RP): right-wing to far-right, social conservatism, economic liberalism, anti-immigration
- Popular Action (AP): centre to centre-right, reformism, nationalism, paternalistic conservatism
- Alliance for Progress (APP): centre-right, conservative liberalism, progressivism, populism
- Go on Country – Social Integration Party (AvP): centre-right to right-wing, liberal conservatism, economic liberalism
- Together for Peru (JP): centre-left to left-wing, democratic socialism, progressivism
- Podemos Peru (PP): centre-right to right-wing, social conservatism, populism, protectionism
- We Are Peru (SP): centre-right, social conservatism, Christian democracy, Christian humanism
Type of State: Republic based on parliamentary democracy.
Executive Power: The President is the chief of the state and head of the government, the commander-in-chief of the armed forces, and holds executive powers, which include the implementation of the law and running the day-to-day affairs of the country. The President is elected by popular vote for a five-year term (not eligible for an immediate re-election) and appoints the Council of Ministers (cabinet) and the Prime Minister to serve for five-year terms as well. All Presidential decree laws or draft bills sent to parliament must be approved by the Council of Ministers. The first and second vice presidents are also popularly elected, but have no constitutional functions, unless the president is unable to discharge his duties.
Legislative Power: The legislature is unicameral. The parliament - called Congress - consists of 130 seats, with its members elected by popular vote to serve five-year terms. Congress ratifies treaties, authorises government loans, and approves the government budget. The President has the power to veto acts of the legislature, and, in turn, a supermajority (generally two-thirds majority) of legislators may act to override the veto. The president has the power to block legislation with which the executive branch does not agree.

Indicator of Freedom of the Press

Definition

Definition:

The world rankings, published annually, measures violations of press freedom worldwide. It reflects the degree of freedom enjoyed by journalists, the media and digital citizens of each country and the means used by states to respect and uphold this freedom. Finally, a note and a position are assigned to each country. To compile this index, Reporters Without Borders (RWB) prepared a questionnaire incorporating the main criteria (44 in total) to assess the situation of press freedom in a given country. This questionnaire was sent to partner organisations,150 RWB correspondents, journalists, researchers, jurists and human rights activists. It includes every kind of direct attacks against journalists and digital citizens (murders, imprisonment, assault, threats, etc.) or against the media (censorship, confiscation, searches and harassment etc.).

World Rank:: 91/180

Indicator of Political Freedom

Definition

Definition:

The Indicator of Political Freedom provides an annual evaluation of the state of freedom in a country as experienced by individuals. The survey measures freedom according to two broad categories: political rights and civil liberties. The ratings process is based on a checklist of 10 political rights questions (on Electoral Process, Political Pluralism and Participation, Functioning of Government) and 15 civil liberties questions (on Freedom of Expression, Belief, Associational and Organizational Rights, Rule of Law, Personal Autonomy and Individual Rights). Scores are awarded to each of these questions on a scale of 0 to 4, where a score of 0 represents the smallest degree and 4 the greatest degree of rights or liberties present. The total score awarded to the political rights and civil liberties checklist determines the political rights and civil liberties rating. Each rating of 1 through 7, with 1 representing the highest and 7 the lowest level of freedom, corresponds to a range of total scores.

Ranking:: Free
Political Freedom:: 3/7

Political freedom in the world (interactive map)
Source: Freedom in the World Report, Freedom House

COVID-19 Country Response

Travel restrictions: Regularly updated travel information for all countries with regards to Covid-19 related entry regulations, flight bans, test and vaccines requirements is available on TravelDoc Infopage.
To find information about the current travel regulations, including health requirements, it is also advised to consult Travel Regulations Map provided and updated on a daily basis by IATA.
Import & export restrictions: A general overview of trade restrictions which were adopted by different countries during the COVID-19 pandemic is available on the International Trade Centre's COVID-19 Temporary Trade Measures webpage.
Economic recovery plan: For the general overview of the key economic policy responses to the COVID-19 pandemic (fiscal, monetary and macroeconomic) undertaken by the government of Peru, please consult the country's dedicated section in the IMF’s Policy Tracker platform.
Support plan for businesses: For an evaluation of impact of the Covid pandemic on SMEs and an inventory of country responses to foster SME resilience, refer to the OECD's SME Covid-19 Policy Responses document.
You can also consult the World Bank's Map of SME-Support Measures in Response to COVID-19.

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