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Peru
Statista Country Report

February 2019
Statista Country Reports

Dear Reader,

Find out more about Peru in our report focusing on the general
economy, trade, investment, society, consumers, infrastructure, and
politics.
The Statista Country Report provides a comprehensive overview of the Tytti Mälkki Volker Staffa
economy of Peru, which can be relevant for manufacturing, foreign
direct investment, and the importing and exporting business. Gain
insight into the major trends in Peru in order to assess the risks and
opportunities relevant for international business.

Tytti Mälkki studied International Business in Copenhagen, São Paulo,

and Beijing. Oliver Sánchez studied International Business and Local
Comparative Development in Germany, Italy, Hungary, and Mexico.
Volker Staffa studied Business with a focus on Logistics and Supply
Chain Management in Hamburg and Rhode Island. Melanie Mesloh
studied Innovation Economics and Entrepreneurship in Bremen. Oliver Sánchez Melanie Mesloh
Volker has been responsible for the Statista Industry Reports since 2012,
while Oliver joined Statista last year after several years in marketing and
strategy. Tytti has been part of Statista since summer 2017 and Melanie
joined Statista in fall 2018.
We wish you a valuable and insightful reading experience.

2
Agenda

01 Introduction 04 Fitch risk indices 07 Infrastructure

▪ Overview ▪ Development ▪ Digital
▪ Executive summary ▪ High and low performer ▪ Transport
▪ Global and regional comparison ▪ Electrical

02 Economy 05 Society 08 Politics

▪ Economic conditions ▪ Population ▪ Political profile
▪ Public finances ▪ Income ▪ Political environment
▪ Labor force ▪ Human Development Index
▪ Business environment
03 Trade & Investment 06 Retail & Consumption 09 Appendix
▪ Merchandise trade ▪ eCommerce ▪ Data description and methods
▪ Commercial services ▪ Glossary
▪ Investment ▪ Authors

3
 INTRODUCTION
▪ Overview

▪ Executive summary

4
Peru
Overview (1/3)

General information:

Capital: Lima
Official language(s): Spanish, Quechua, Aymara
Main religion: Roman Catholic
Main ethnic group: Amerindian
Population: 32,551,815
Area: 1,285,216 sq km
- Population density: 25.1 people per sq km
Total real GDP1 in 2018: US$171.3bn
- GDP1 per capita: US$5,325.71
Corporate tax: 21.4%
Currency: Nuevo sol (PEN)
- Exchange rate: USD/PEN = 3.27
Time zone: UTC-5
Calling code: +51

1: Constant US$, see glossary for definition of current and constant US$
Source: CIA World Factbook 2018, United Nations, Department of Economic and Social Affairs, Population Division 2017, World Bank World
5 Development Indicators 2018, International Monetary Fund, World Economic Outlook Database 2018, Columbia University, Statista 2018
With 10.4 million in population, Lima is the largest
urban area
Overview (2/3)

Religious affiliation in % of population Ethnic groups in % of population

Roman Catholic Black, Japanese, Chinese, and other Mestizo

14.6% White Amerindian
Other Christian
4.0%
0.3% Other
None
21.1% 60.0%
Unspecified 3.0% 15.0% 37.0% 45.0%

Land use in % of total area Population in major urban areas in millions

Forest area Permanent cropland Arable land Other
10.4

3.2%
57.8% 37.9%
1.1%
0.9 0.8

Lima Arequipa Trujillo

6 Source: CIA World Factbook 2018, World Bank World Development Indicators 2018
Peru sports 2 major airports – flight time from the U.S.
ca. 11-12 hours
Overview (3/3)

Major airports in Peru1 Flight times from regional hubs in hours (no. of stops)2
Region Hub AQP CUZ
Jorge Chávez International Airport New York City, the U.S. 12:00 11:02
North America
▪ Airport code: LIM (JFK) (1) (1)

▪ Distance to the city: 12 km Latin America & 10:10 8:32

São Paulo, Brazil (GRU)
Caribbean (1) (1)
Rodríguez Ballón International Airport, Arequipa

▪ Airport code: AQP Europe & Central 18:21 17:32

London, the UK (LHR)
Asia (2) (1)
▪ Distance to city center: 9 km

Alejandro Velasco Astete International Airport Hong Kong, Hong 30:02 28:42
East Asia & Pacific
Kong (HKG) (2) (2)
Cusco

▪ Airport code: CUZ 28:16 29:57

South Asia Delhi, India (DEL)
(2) (2)
▪ Distance to city center: 3 km
Middle East & North 27:21 26:42
Dubai, the UAE (DXB)
Africa (2) (2)

Johannesburg, South 26:19 25:05

Sub-Saharan Africa
Africa (JNB) (2) (2)

1: Busiest airports by number of Passengers-CORPAC SA 2: Most direct and fastest routes are considered. Flight times for 17th July 2019-Google
Flights
Note: Distances to city center are based on the shortest route calculated by Google Maps and rounded to full kilometers
7 Source: Google Flights , Google Maps
Peru is a upper middle income country with a
population growth of 1.2% in 2018
Executive summary (1/2)

Economy Trade & Investment

▪ Real GDP is forecast to increase by 4.1% p.a. from 2018 to 2023 ▪ Peru registered a lower export trade flow than Mexico in 2017

▪ Peru had a fiscal deficit of -1.7% of GDP in 2017 ▪ With US4.1 billion, manufacturers accounted for 9% of the total
merchandise export value in 2017
▪ Household consumption expenditure in Peru was lower than in the
overall region in 2017 ▪ Peru registered a higher export trade flow than Mexico in 2017

▪ Unemployment rate was 3.6% in 2017 and has been increasing since ▪ With US$3.7 billion, travel services accounted for 51% of total services
2010 export in 2017

▪ It takes 26.5 days to start a business in Peru compared to 5.6 days in ▪ Inward FDI amounted to $6.77 billion in 2017
the U.S.

▪ Peru experiences a decline in the emergence of new businesses

▪ In the “labor market” area, Peru is 1.5 points behind the regional high
performer

▪ With an index score of 50.2, the operational risk in Peru is relatively

high

8
In global comparison, Peru has a high level of human
development
Executive summary (2/2)

Society, retail & consumption Politics

▪ Population increased by 1.2%, which is above regional average, to a
total of 32,551,815 in 2018
▪ In 2016, the highest 20% held 48.9% of the income while the lowest
20% only held 4.6%
▪ Peru is a newer democracy
▪ Rule of Law in Peru is low in global comparison
▪ Control of corruption is rated as rather weak

▪ In global comparison, Peru has a high level of human development ▪ Regulatory quality in Peru is on a high level

▪ 45.1% used the internet and there were 122.1 mobile cellular ▪ Moderate risks from political instability and threat of violence or
subscriptions per 100 people terrorism

9
Preview of Statista Country Report expansion

Coming soon…

Later in 2019, the extended content of the Statista

Country Reports will offer detailed insights into
country-specific business cultures such as:

Communication standards

Importance of business networks

Business meeting procedures

Conflict management

10
 ECONOMY
• Economic conditions

• Public finances

• Labor force

• Business environment

11
Real GDP is forecast to increase by 4.1% p.a. from
2018 to 2023
Economic conditions: real GDP (1/3)

Real GDP1 in billion US$2

+4.1%3
209.0
201.0
193.2
185.6
178.3
+4.4%3 171.3
160.5 164.5
149.4 154.4
145.9
137.9
130.1
122.2
111.5 112.6

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

International Monetary Fund estimate

1: See glossary for definitions 2: Constant US$, see glossary for definition of current and constant US$ 3: CAGR: Compound Annual Growth
Rate/average growth rate per year
12 Source: International Monetary Fund, World Economic Outlook Database 2018, Statista 2018
Real GDP growth at 4.1% was faster and real GDP per
capita at US$5,326 was higher than average in 2018
Economic conditions: real GDP (2/3)

Real GDP growth, real GDP and real GDP per capita1 in US$2 in Latin America & Caribbean in 2018
Real GDP growth 2017-18 in % Regional average Real GDP: US$250 billion

10

6
Peru Dominican Republic Panama Chile
Paraguay
4 Bolivia Guyana Colombia Suriname Costa Rica
Honduras
Guatemala
2 Haiti El Salvador Belize Uruguay
Brazil
Mexico
0 Ecuador
Jamaica
Latin America & Caribbean
-2
Argentina

-4 Nicaragua
Venezuela
-18
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000

Real GDP per capita in US$

1: See glossary for definitions 2: Constant US$, see glossary for definition of current and constant US$
Note: Regional average value refers to the 150 countries covered by the Statista Country Reports. Cuba excluded from the regional average due
to unavailability of data
13 Source: International Monetary Fund, World Economic Outlook Database 2018, Statista 2018
Peru has the 71st highest real GDP per capita
Economic conditions: real GDP (3/3)

Real GDP per capita1 in US$2 in 2018

# Country GDP # Country GDP # Country GDP # Country GDP # Country GDP
1 Luxembourg 111,404 30 Slovenia 26,841 59 Turkmenistan 8,561 88 Ukraine 3,086 117 Angola 1,219
2 Norway 99,968 31 South Korea 26,783 60 Uruguay 8,328 89 Guyana 2,976 118 Pakistan 1,003
3 Qatar 82,251 32 Cyprus 25,312 61 Belarus 8,316 90 Armenia 2,804 119 Zimbabwe 992
4 Switzerland 79,567 33 Portugal 24,851 62 South Africa 7,492 91 Albania 2,731 120 Bangladesh 971
5 Ireland 78,275 34 Greece 23,614 63 Dominican Republic 7,336 92 Nigeria 2,422 121 Moldova 949
6 Iceland 67,038 35 Czechia 23,459 64 Botswana 7,081 93 Paraguay 2,416 122 Djibouti 887
7 Australia 64,087 36 Bahrain 23,054 65 Serbia 6,200 94 Azerbaijan 2,363 123 Rwanda 867
8 Denmark 62,543 37 Saudi Arabia 21,062 66 Brazil 6,164 95 Algeria 2,313 124 Laos 864
9 Singapore 56,354 38 Slovakia 20,718 67 Suriname 6,048 96 Venezuela 2,310 125 Cambodia 847
10 Netherlands 55,380 39 Estonia 19,717 68 Montenegro 5,896 97 Georgia 2,191 126 Cameroon 836
11 United States 53,820 40 Oman 17,731 69 Bosnia and Herzegovina 5,746 98 India 2,185 127 Tanzania 834
12 Japan 53,306 41 Lithuania 17,685 70 Argentina 5,418 99 Philippines 1,952 128 Senegal 824
13 Sweden 51,942 42 Chile 16,688 71 Peru 5,326 100 Bhutan 1,947 129 Chad 796
14 Austria 50,150 43 Poland 16,461 72 Colombia 4,868 101 Guatemala 1,936 130 Uganda 747
15 Belgium 49,447 44 Latvia 16,132 73 Jamaica 4,517 102 Vietnam 1,920 131 Gambia 707
16 Finland 48,515 45 Croatia 15,846 74 Indonesia 4,323 103 Libya 1,784 132 Kyrgyzstan 675
17 Germany 48,104 46 Russia 15,217 75 Macedonia 4,314 104 Jordan 1,748 133 Yemen 666
18 Canada 47,558 47 Hungary 13,975 76 Mongolia 4,246 105 Honduras 1,691 134 Ethiopia 663
19 United Kingdom 45,812 48 Turkey 13,816 77 Ecuador 4,217 106 Ivory Coast 1,655 135 South Sudan 662
20 France 44,956 49 Equatorial Guinea 12,049 78 Iraq 4,055 107 Zambia 1,634 136 Mozambique 620
21 Hong Kong 43,986 50 Malaysia 11,767 79 Timor-Leste 4,023 108 Nicaragua 1,622 137 Malawi 474
22 Italy 35,294 51 Costa Rica 11,397 80 Tunisia 3,989 109 Myanmar 1,602 138 Burkina Faso 437
23 Israel 34,841 52 Romania 11,346 81 Gabon 3,719 110 Ghana 1,562 139 Mali 433
24 United Arab Emirates 33,829 53 Mexico 10,990 82 Belize 3,632 111 El Salvador 1,504 140 Sierra Leone 433
25 Spain 33,593 54 Panama 10,362 83 Thailand 3,589 112 Bolivia 1,354 141 Nepal 407
26 New Zealand 31,830 55 China 9,771 84 Morocco 3,393 113 Republic of the Congo 1,333 142 Afghanistan 344
27 Brunei Darussalam 31,744 56 Lebanon 9,576 85 Egypt 3,315 114 Sudan 1,329 143 Congo (Dem Rep)3 280
28 Kuwait 30,830 57 Kazakhstan 8,772 86 Namibia 3,228 115 Uzbekistan 1,291 144 Tajikistan 261
29 Malta 28,684 58 Bulgaria 8,688 87 Iran 3,132 116 Kenya 1,288 145 Niger 228

1: See glossary for definitions 2: Constant US$, see glossary for definition of current and constant US$ 3: Democratic Republic of the Congo
Note: data compared only for the 150 countries from the Statista Country Reports publication series. No data available for following counties:
Cuba, North Korea, Somalia and Syria
14 Source: International Monetary Fund, World Economic Outlook Database 2018, Statista 2018
Services accounted for 57.7% of GDP in 2017
Economic conditions: value added by sector

Value added1 by sector in % of GDP

Other Services Industry Agriculture

7.1% 6.8% 7.4%

6.0% 7.0% 8.0%

10.0%
15.0%
20.0% 26.2%
31.6%
37.2%

80.0%
75.0% 57.7%
70.0% 52.5%
47.8%

7.9% 9.1% 8.8%

2011 2014 2017

1: See glossary for definitions

15 Source: World Bank World Development Indicators 2018
Inflation decreased from 2017 to 2018 and central
bank interest rates rose
Economic conditions: inflation and interest rates

Inflation1 and central bank interest rates2 in %

Inflation Central bank interest rates
6.5%
5.8%

5.0%

4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3% 4.3%
4.0%
3.7% 3.8% 3.6%
3.4% 3.5% 3.5%
3.2%
2.9% 3.0%
2.8% 2.8%

2.0% 2.0% 2.0% 2.0% 2.0%

1.8%
1.5% 1.4%
1.3%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

When interest rates are low, individuals and businesses tend to take more loans. Each bank loan increases the money supply in a fractional reserve
banking system. According to the quantity theory of money, a growing money supply increases inflation. Thus, a lower interest rate tends to result in a
higher inflation. High interest rates tend to lower inflation. Consumers tend to save when interest rates are higher, as returns from savings are higher.
More money put aside to savings means less disposable income. This results in slower economy and decreased inflation.
Forecasts for interest rates are based on latest historical value in a no-change model3. Inflation levels are estimated after 2017 by the IMF.

1: Percent change in annual average consumer prices 2: Monetary policy-related interest rate, percent per annum 3: As central bank interest
rate changes are highly dependent on macro economic developments we assume a constant development
Source: International Monetary Fund, World Economic Outlook Database 2018, International Monetary Fund International Financial Statistics
16 Database 2018
Peru had a fiscal deficit of -1.7% of GDP in 2017
Public finance: expenditure and revenue (1/3)

Expenses1 and revenues1 in % of GDP

Expense Revenue
-8.1%
21.5%
20.7%
19.0% 19.3% 19.0%
17.7%

2009 2013 2017

1: See glossary for definitions

17 Source: World Bank World Development Indicators 2018
Household consumption expenditure in Peru was
lower than in the overall region in 2017
Public finance: expenditure and revenue (2/3)

Expenditure in % of GDP in 2017

Peru Latin America & Caribbean

64.0% 65.4%

24.3%
20.9% 20.5%
18.8%
16.5%
13.4%

0.3% 0.8%
-0.3% -0.6%

-22.6% -21.5%
Household General government Gross capital Changes in Exports of goods Imports of goods Other
consumption final consumption formation3 inventories4 and services and services
expenditure1 expenditure2

1: Expenditure by resident households and non-profit institutions serving households on individual consumption goods and services
2: Expenditure on individual consumption goods and services and collective consumption services 3: Including acquisitions less disposals of
valuables 4: Value of entries into inventories less value of withdrawals and value of any recurrent losses of goods held in inventories
18 Source: United Nations National Accounts Estimates of Main Aggregates 2018
Government expenditure reached US$72.5 billion in
2016
Public finance: expenditure and revenue (3/3)

Government expenditure in bnUS$1 in 2016 Government revenue in bnUS$1 in 2016

Total expenditure 72.5 Revenue, excluding grants 30.1

Compensation of employees 37.9 Social contributions 3.9

Goods and services expense 7.5 Taxes on goods and services 12.4

Taxes on income, profits, and

Interest payments 8.3 10.9
capital gains

Subsidies and other transfers 2.0 Taxes on international trade 0.5

Other 16.8 Other taxes 2.4

1: Current US$, see glossary for definition of current and constant US$
19 Source: World Bank World Development Indicators 2018
 Debt-to-GDP ratio in Peru expected to decrease over
the observed time period
Public finances: debt

General government gross debt1 in % of GDP

Peru Latin America & Caribbean
56.4% 56.7% 56.7% 56.5% 56.4% 55.9%

49.3% 50.2%
45.8%
43.6% 44.4%
41.7% 40.9% 41.7%
40.4%

28.4% 27.4% 27.3%

26.4% 26.7% 26.1% 25.6%
25.4% 24.5% 25.4%
23.0% 24.0%
21.2% 20.0% 20.7%

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

International Monetary Fund estimate

1: See glossary for definitions 2: Statista estimate

Note: Regional averages based on countries included in Statista Country Reports
20 Source: International Monetary Fund, World Economic Outlook Database 2018, Statista 2018
Peru received less development aid in 2016 than in
2006
Public finances: development assistance received

Net official development assistance1 received in % of gross capital formation

Peru Latin America & Caribbean

-71.4%
2.6%

1.8%

1.5% 1.4%
1.4%

1.1% 1.0% 1.1%

0.9% 1.0% 0.9%
0.8% 0.9% 0.8% 0.8%
0.7% 0.7% 0.8%
0.7% 0.7% 0.7%

-0.8%
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

1: See glossary for definitions

21 Source: World Bank World Development Indicators 2018
Total labor force to decline from 2018 to 20.1 million
by 2023 compared to 2016
Labor force: development

Total labor force1 in thousand

Female Male
20,115
19,012 19,384 19,750
18,274 18,645
17,170 17,210 17,533 17,903
17,052
15,959 16,408 16,606 16,878 +29.2%
15,573
10,874
10,513 10,694
9,958 10,144 10,328
9,585 9,771
8,996 9,153 9,251 9,348 9,437
8,703 8,856
8,494

8,316 8,501 8,684 8,871 9,056 9,241

7,256 7,552 7,610 7,725 7,801 7,822 7,773 7,948 8,132
7,079

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

International Labour Organization estimate

1: See glossary for definitions

22 Source: ILO Labour force by sex and age ILO modelled estimates 2018
In 2020, most employees work in the services sector
and have a upper secondary education
Labor force: employment

Employment in % of total labor force Educational attainment of population over 15 in 2020

Services Industry Agriculture
Incomplete
110 Primary primary

100 10.1% 10.5%

No education
90 3.9%
Lower
80 10.6% secondary

70

60

50

40
23.6%
30 41.3% Post
20 Upper secondary
secondary
10

0
2022
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021

23 Source: ILO Employment by sector 2018, Wittgenstein Centre for Demography and Global Human Capital 2018
Unemployment rate was 3.6% in 2017 and has been
increasing since 2010
Labor force: unemployment

Unemployment1 in % of total population Unemployment1 in % of total population

Peru Latin America & Caribbean Male Female

8.3%
7.8%
6.9%
6.5% 6.5% 6.4% 6.6%
6.1%

3.4% 3.5% 3.6% 3.6% 3.7%

3.1% 3.2% 3.5% 3.5%
3.5% 3.0% 3.0% 3.0% 3.0%

2010 2011 2012 2013 2014 2015 2016 2017 2015 2016 2017

1: See glossary for definitions

24 Source: World Bank World Development Indicators 2018
It takes 26.5 days to start a business in Peru
compared to 5.6 days in the U.S.
Business environment: administrative framework

Business administration

Time needed Time needed Time needed to fulfill Time needed to resolve
to start a business1 to register property tax requirements insolvency2

Peru 26.5 days 7.5 days 260 hours 3.1 years

The U.S. 5.6 days 15.2 days 175 hours 1.0 years

Delivery

Time needed Time needed Efficiency of

to export3 to import3 customs clearance4

Peru 12 days 17 days 2.5

The U.S. 6 days 5.4 days 3.7

1: Number of calendar days needed to complete the procedures to legally operate a business 2: Number of years from the filing for insolvency
in court until the resolution of distressed assets 3: Time necessary to comply with all the procedures required to export/import goods in
calendar days 4: Includes e.g. speed, simplicity, and predictability of customs clearance (5 = high efficiency, 1 = low efficiency)
25 Source: World Bank World Development Indicators 2018
Peru takes 37th place in the Made-In-Country-Index
Business environment: Made-In-Country Index (1/2)

Made-In-Country Index 2017 Product attributes

Score – Peru Average Max

Rank Country Index
1. Germany 100 High quality
Switzerland 60%
2. 98 High security
Status symbol
3. the EU 92 standards
40%
4. the UK 91
Very good
5. Sweden 90 Fair production 20% value for
6. Canada 85 money
7. Italy 84 0%

8. Japan 81
Sustainability Uniqueness
8. France 81
8. the U.S. 81
Excellent
… … … Authenticity
design
37. Peru 37
Advanced
technology
Reading support: Peru takes 37th place with a Made-In-Country Index score of 37 Reading support: This chart depicts respondents' answers to the question “Which
attributes do you associate with products from …?”. For instance, 7% of respondents
associate “high quality” with products from Peru

Note: The Made-In-Country Index is an index for the reputation of products from various countries all over the world
26 Source: Statista Made-In-Country Index 2017
“Made in Peru” – relatively strong in North America
and with a good reputation in Peru itself
Business environment: Made-In-Country Index (2/2)

Top 10: “Made in Peru” is strongest in these countries Summary

▪ “Made in Peru” is placed 37th in the world
Country Rank with an index score of 37, sharing the
position with “Made in Turkey“, “Made in
Peru 2
South Africa“, “Made in Mexico”, and “Made
Venezuela 22 in Romania”

Ireland 28 ▪ Peru’s perceived strengths are fair

production, uniqueness and good value for
the U.S. 28 money
Argentina 29
▪ “Made in Peru” takes second place in Peru
Austria 29 itself – only products from Germany are
ranked higher
the UK 29
▪ Peru’s immediate neighbor Chile has the
Australia 30 worst image of Peruvian products (rank: 49)
China 31
Canada 32

Reading support: Peru is ranked highest by Peru itself (rank: 2). Its lowest rankings come from Chile and Norway (rank: 49 in
each country)

Note: The Made-In-Country Index is an index for the reputation of products from various countries all over the world
27 Source: Statista Made-In-Country Index 2017
Peru takes 63rd place in competitiveness
Business environment: competitiveness

Percentile rankings in Global Competitiveness 4.0 Index in 2018 ▪ Peru ranked 63rd out of 140 countries in
national competitiveness
0%-20% 21%-40% 41%-60% 61%-80% 81%-100%
▪ Percentile rank indicates the country’s place
in the ranking, with 0 corresponding to
lowest rank, and 100 to highest rank

▪ The Global Competitiveness Index 4.0

includes 98 indicators of infrastructure, ITC
adoption, Macroeconomic stability,
efficiency enhancers and innovation factors
that determine the level of competitiveness
of a country

▪ Competitiveness is a set of institutions,

policies, and factors that determine the
level of productivity of an economy
▪ Highly competitive economies are more
productive and have higher chances of
long-term prosperity than less competitive
economies

28 Source: World Economic Forum The Global Competitiveness Index 4.0 2018
Peru experiences a decline in the emergence of new
businesses
Business environment: business formation

New businesses registered per 1,000 inhabitants1 Ease of doing business score² in 2018
Peru Latin America & Caribbean Starting a business Enforcing contracts Getting credit

3.9 82.4 79.4

3.7 3.6 75.0

60.7
53.4 51.6
2.0
1.6 1.8

2012 2014 2016 Peru Latin America & Caribbean

1: Number of new limited liability corporations registered in the calendar year per 1,000 people between 15-64 years
2: 0 = lowest performance, 100 = best performance
Note: Regional averages for new businesses based on available data for countries covered by Statista Country Reports
29 Source: World Bank Enterprise Surveys 2018, World Bank Doing Business 2018
 TRADE &
INVESTMENT
▪ Merchandise trade

▪ Commercial services

▪ Investments

30
Peru registered a lower export trade flow than Mexico
in 2017
Merchandise trade: global comparison (1/2)

Export trade flows of total merchandise1 Import trade flows of total merchandise1
Peru Latin America & Caribbean Mexico United States
2010 = 100% 2010 = 100%
145 145

140 140

135 135

130 130

125 125

120 120

115 115

110 110

105 105

100 100

95 95

90 90
2010 2011 2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017

1: See glossary for definitions

Note: Regional average value refers to the 150 countries covered by the Statista Country Reports
31 Source: WTO International Trade by Commodity and Commercial Services 2018
The share of manufacturers in merchandise export in
Peru is lower than in Mexico in 2017
Merchandise trade: global comparison (2/2)

Shares in merchandise trade export value in 2017 Shares in merchandise trade import value in 2017
Peru Latin America & Caribbean Mexico United States
81%
78%
76%
73% 74%
71%

53%
50%

24%
22%
20%
15%
12% 13% 13%
11% 11% 11%
9% 8% 8% 9%
7% 7%

Manufacturers Fuels & Mining Agricultural products Manufacturers Fuels & Mining Agricultural products

Note: Regional average value refers to the 150 countries covered by the Statista Country Reports. Cuba excluded from the regional average due
to unavailability of data
32 Source: WTO International Trade by Commodity and Commercial Services 2018
With US4.1 billion, manufacturers accounted for 9% of
the total merchandise export value in 2017
Merchandise trade: trade flows

Merchandise export trade flows in billion US$1 Merchandise import trade flows in billion US$1
Manufacturers Fuels & Mining Agricultural products Other

+3.4%²
+4.1%²

0.0
10.1 10.9 8.1 0.4 4.9 0.0
4.8 5.0 0.0
9.0 0.0 0.0
6.6 0.0 5.4
4.5 7.2 4.7
7.4 6.5 6.5 4.6
7.8 7.9 7.7 9.0
6.6 4.3 6.2
7.2 0.1 6.4 4.5
8.3 3.6
6.0 7.9
7.7 4.6

23.5 23.6 24.0

21.8 19.8 30.9 31.6 30.8
26.9 28.9 27.2 28.4
18.2 15.9 17.9
21.7

3.8 4.9 5.3 4.9 4.8 4.1 3.9 4.1

2010 2011 2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017

1: Current US$, see glossary for differences between current and constant US$ 2: CAGR: Compound Annual Growth Rate / average growth rate
per year
33 Source: WTO International Trade by Commodity and Commercial Services 2018
Peru registered a higher export trade flow than
Mexico in 2017
Commercial services: global comparison (1/2)

Export trade flows of total commercial services1 Import trade flows of total commercial services1
Peru Latin America & Caribbean Mexico United States
2010 = 100% 2010 = 100%
210 210

200 200

190 190

180 180

170 170

160 160

150 150

140 140

130 130

120 120

110 110

100 100

90 90
2010 2011 2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017

1: See glossary for definitions

Note: Regional average value refers to the 150 countries covered by the Statista Country Reports
34 Source: WTO International Trade by Commodity and Commercial Services 2018
The share of travel in services export is lower in Peru
than in Mexico in 2017
Commercial services: global comparison (2/2)

Shares in commercial services export value in 2017 Shares in commercial services import value in 2017
Peru Latin America & Caribbean Mexico United States
79%

52%
46%
41%
35%
32%
29% 30%
27% 26% 26%
21% 20%
16%
11%
7%
2% 3%
n.a. n.a. n.a. 1% 1% 2%
Goods-related services Transport Travel Goods-related services Transport Travel

Note: Regional average value refers to the 150 countries covered by the Statista Country Reports
35 Source: WTO International Trade by Commodity and Commercial Services 2018
With US$3.7 billion, travel services accounted for 51%
of total services export in 2017
Commercial services: trade flows

Commercial services export trade flows in billion US$1 Commercial services import trade flows in billion US$1
Travel Transport Goods-related services Other

+5.6%²

3.7
+10.7%² 3.5 3.5
2.0 3.2 3.3
3.0
1.4 1.3
1.1 1.3 2.5
2.2 0.0
1.5 0.0 0.0 0.0
1.1 1.3 0.0
1.4 0.0
0.9 1.5 1.4 0.0 2.8
0.7 2.8 2.6
1.2 2.9 2.9 2.8
1.0 2.5
0.9 2.5

3.3 3.5 3.7

3.0 3.1
2.3 2.4 2.0 2.2
2.0 1.6 1.9
1.3 1.4 1.4 1.6

2010 2011 2012 2013 2014 2015 2016 2017 2010 2011 2012 2013 2014 2015 2016 2017

1: Current US$, see glossary for differences between current and constant US$ 2: CAGR: Compound Annual Growth Rate / average growth rate
per year
36 Source: WTO International Trade by Commodity and Commercial Services 2018
With US$275.4 billion, the United States registered
the highest inward FDI flow in 2017
Investments: global comparison (1/2)

Top global inward FDI1 flows in billion US$2 in 2017

North United States 275.4

America Canada 24.2
Netherlands 58.0
France 49.8
Europe Switzerland 41.0
& Central Asia Germany 34.7
China 136.3
Hong Kong 104.3
East Asia Singapore 62.0
& Pacific Australia 46.4
India 39.9
South Asia Pakistan 2.8
Bangladesh 2.2
Brazil 62.7
Latin America Mexico 29.7
& Caribbean Colombia 14.5
Israel 19.0
Middle East & UAE3 10.4
North Africa Egypt 7.4
Ethiopia 3.6
Sub-Saharan Nigeria 3.5
Africa Ghana 3.3

1: Foreign direct investment, see glossary for definition 2: Current US$, see glossary for differences between current and constant US$ 3: United
Arab Emirates
Note: Regions only include the 150 countries covered by the Statista Country Reports
37 Source: UNCTAD Foreign Direct Investment Inward and Outward flows and stock 2018
The United States also had the highest outward FDI
sum in 2017, with US$342.3 billion
Investments: global comparison (2/2)

Top global outward FDI1 flows in billion US$2 in 2017

North United States 342.3

America Canada 77.0
United Kingdom 99.6
Germany 82.3
Europe France 58.1
& Central Asia Luxembourg 41.2
Japan 160.4
China 124.6
East Asia Hong Kong 82.8
& Pacific South Korea 31.7
India 11.3
South Asia Bangladesh 0.2
Pakistan 0.1
Chile 5.1
Latin America Mexico 5.1
& Caribbean Colombia 3.7
UAE3 14.0
Middle East & Kuwait 8.1
North Africa Israel 6.3
South Africa 7.4
Sub-Saharan Angola 1.6
Africa Nigeria 1.3

1: Foreign direct investment, see glossary for definition 2: Current US$, see glossary for differences between current and constant US$ 3: United
Arab Emirates
Note: Regions only include the 150 countries covered by the Statista Country Reports
38 Source: UNCTAD Foreign Direct Investment Inward and Outward flows and stock 2018
Inward FDI amounted to $6.77 billion in 2017
Investments: development

FDI1 inward and outward flows in billion US$2

Inward flows Outward flows
11.79

9.80

8.46 8.27
7.34
6.86 6.77

4.44

0.80
0.27 0.15 0.08 0.14 0.13 0.30 0.26

2010 2011 2012 2013 2014 2015 2016 2017

1: Foreign direct investment, see glossary for definition 2: Current US$, see glossary for differences between current and constant US$ Note: FDI
flows with a negative sign indicate that at least one of the three components of FDI (equity capital, reinvested earnings or intra-company loans) is
negative and not offset by positive amounts of the remaining components. These are instances of reverse investment or disinvestment.
39 Source: UNCTAD Foreign Direct Investment Inward and Outward flows and stock 2018
 FITCH
SOLUTIONS
RISK INDICES
▪ Methodology

▪ Development

▪ High and low performer

▪ Global and regional comparison

40
Operational risk breakdown
Methodology

The risk/reward indices by Fitch Solutions are a comparative regional

ranking system that classifies different markets by the ease of doing Operation risk index
business there and operational risks and limitations that potential
investors face. The operational risk index uses quantitative measures to (100%)
compare the challenges of operating in 201 countries worldwide. The
index attributes scores between 0-100 to each country, with 100 being
the lowest risk.

The index focuses on four main risk areas: Labor market Logistics Trade & investment Crime & security
(25%) (25%) (25%) (25%)
▪ Labor market: evaluation of the risks surrounding the size, education
levels and costs of employing workers in a country

▪ Logistics: evaluation of the quality and extent of the transport Economic

Education Transport network Conflict risk
infrastructure, the ease of trading, and the quality and availability of openness
utilities

▪ Trade & investment: evaluation of the openness of an economy, the Trade procedures Vulnerability
Availability of labor Legal
level of government intervention and the quality and efficacy of the and governance to crime
legal environment

▪ Crime & security: evaluation of operating conditions with respect to Market size Government
interstate conflict risk, terrorism, crime, including cybercrime and Labor costs Business crime
and utilities intervention
organized crime

Note: THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS MACRO RESEARCH and is NOT a comment on Fitch Ratings' credit ratings. Any comments
or data included in the report are solely derived from Fitch Solutions Macro Research and independent sources. Fitch Ratings' analysts do not share data
41 or information with Fitch Solutions Macro Research.
Overall index score increased in 2018, which means
that the operational risk for Peru decreased
Development

Development of overall operational risk index1 Development of subindices1

Labor market Trade & investment
Logistics Crime & security

60.7 59.8
57.4 59.5
52.4 55.9 52.9
50.5 50.2 53.2 51.3 51.3
49.9
51.1
53.2
50.8

39.8 40.2
38.2
36.8

2015 2016 2017 2018 2015 2016 2017 2018

Note: THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS MACRO RESEARCH and is NOT a comment on Fitch Ratings' credit ratings. Any comments
or data included in the report are solely derived from Fitch Solutions Macro Research and independent sources. Fitch Ratings' analysts do not share data
or information with Fitch Solutions Macro Research.
1: Scale of 0-100, with 100 being the lowest risk
42 Source: Fitch Solutions
In the “labor market” area, Peru is 1.5 points behind
the regional high performer
High and low performer

Comparison of country scores to highest and lowest scores1 in the region and worldwide in 2018

Labor market Logistics Trade & investment Crime & security

Peru 59.8 Peru 51.3 Peru 52.9 Peru 36.8

Chile 61.3 Panama 69.3 Chile 67.7 Chile 64.7

Regional
high/low
Haiti 36.4 Haiti 24.5 Haiti 19.1 Venezuela 19.2

United States 79.0 United States 88.0 Singapore 89.9 Norway 92.3
Global
high/low
Sierra Leone 25.4 Chad 15.7 Chad 18.8 South Sudan 4.5

Note: THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS MACRO RESEARCH and is NOT a comment on Fitch Ratings' credit ratings. Any comments
or data included in the report are solely derived from Fitch Solutions Macro Research and independent sources. Fitch Ratings' analysts do not share data
or information with Fitch Solutions Macro Research.
1: Scale of 0-100, with 100 being the lowest risk
43 Source: Fitch Solutions
Peru had the 75th lowest operational risk in 2018
Global comparison

Operational risk index1 in 2018 and change compared to 2017

# Country Value Change # Country Value Change # Country Value Change # Country Value Change # Country Value Change
1 Singapore 83.0 ↑ 31 Slovenia 67.2 → 61 Panama 55.3 ↓ 90 Philippines 43.6 ↓ 119 Djibouti 34.9 ↑
2 Hong Kong 81.3 → 32 Israel 66.7 ↑ 62 Kuwait 54.8 → 91 Tajikistan 43.4 ↓ 120 Pakistan 34.9 →
3 Switzerland 79.9 ↑ 33 Qatar 65.3 ↑ 63 Costa Rica 53.7 ↑ 92 Kyrgyzstan 43.3 ↓ 121 Malawi 34.8 ↓
4 Denmark 79.6 → 34 Malta 65.2 → 64 Uruguay 53.7 ↓ 93 Iran 43.3 ↑ 122 Ethiopia 34.6 →
5 Netherlands 79.1 → 35 Latvia 65.1 ↓ 65 Vietnam 53.4 ↑ 94 Suriname 43.0 ↑ 123 Mozambique 34.0 ↓
6 Sweden 78.7 ↑ 36 Chile 64.8 → 66 Turkey 53.0 ↓ 95 Lebanon 42.7 ↓ 124 Gabon 33.8 ↓
7 New Zealand 78.0 ↑ 37 Bahrain 64.5 ↑ 67 Morocco 52.9 → 96 Cambodia 42.5 ↑ 125 Burkina Faso 33.6 ↑
8 United States 77.8 → 38 Oman 63.3 → 68 Indonesia 52.8 ↑ 97 Uzbekistan 42.1 ↑ 126 North Korea 32.6 →
9 Canada 77.5 → 39 Hungary 63.2 → 69 Mexico 51.7 ↑ 98 Belize 42.1 → 127 Zimbabwe 32.2 →
10 United Kingdom 77.3 → 40 Italy 63.1 ↓ 70 Bhutan 51.7 → 99 Cuba 41.9 ↑ 128 Myanmar 32.0 ↓
11 Norway 77.3 → 41 Croatia 63.1 ↓ 71 Mongolia 51.6 → 100 El Salvador 41.8 → 129 Timor-Leste 31.9 ↓
12 Finland 75.2 ↑ 42 Slovakia 62.9 → 72 South Africa 51.3 ↓ 101 Kenya 41.1 ↑ 130 Angola 31.1 →
13 Japan 75.0 → 43 Georgia 62.2 → 73 Botswana 50.8 → 102 Algeria 40.9 → 131 Cameroon 30.4 ↓
14 Luxembourg 74.4 ↑ 44 Romania 62.1 ↓ 74 Albania 50.8 → 103 Nicaragua 39.6 ↓ 132 Rep. of the Congo 29.9 ↑
15 Ireland 74.1 → 45 Saudi Arabia 61.7 → 75 Peru 50.2 → 104 Paraguay 39.5 → 133 Venezuela 29.3 →
16 Austria 74.1 → 46 Cyprus 61.0 ↓ 76 India 50.1 ↑ 105 Zambia 39.5 ↓ 134 Libya 28.3 ↓
17 UAE 73.8 ↑ 47 Brunei Darussalam 60.9 ↑ 77 Rwanda 50.1 ↑ 106 Laos 38.7 → 135 Equatorial Guinea 28.2 ↓
18 Australia 73.5 → 48 Bulgaria 60.2 ↑ 78 Colombia 49.0 ↑ 107 Bangladesh 38.6 ↑ 136 Mali 28.1 →
19 Germany 73.0 ↑ 49 Thailand 58.8 ↓ 79 Egypt 47.8 ↑ 108 Nepal 38.2 ↑ 136 Sierra Leone 28.1 ↓
20 Spain 72.1 → 50 Jordan 58.4 → 80 Namibia 47.5 ↓ 109 Guyana 38.0 → 137 Syria 28.0 ↑
21 Belgium 72.1 ↓ 51 Greece 58.2 ↓ 81 Jamaica 47.4 ↓ 110 Guatemala 37.9 → 138 Iraq 27.2 ↓
22 France 71.5 ↑ 52 Kazakhstan 58.0 ↓ 82 Argentina 46.8 → 111 Honduras 37.7 → 139 Sudan 25.8 ↓
23 Estonia 71.0 ↑ 53 Azerbaijan 57.6 → 83 Brazil 46.5 ↓ 112 Tanzania 36.9 → 140 Haiti 25.5 ↓
24 Portugal 70.6 ↓ 54 Macedonia 57.5 ↑ 84 Ecuador 46.3 ↓ 113 Ivory Coast 36.9 ↓ 141 Niger 25.5 →
25 Czechia 70.6 → 55 Belarus 57.1 ↑ 85 Ghana 46.1 ↓ 114 Gambia 36.9 ↓ 142 Congo (Dem Rep.)2 24.7 ↓
26 South Korea 70.6 ↑ 56 Montenegro 56.9 → 85 Tunisia 46.1 ↓ 115 Turkmenistan 36.3 ↑ 143 Afghanistan 22.7 ↓
27 Iceland 70.4 → 57 China 56.6 → 86 Bosnia and Herzeg. 45.5 → 116 Nigeria 36.0 → 144 Somalia 21.9 ↓
28 Poland 68.9 → 58 Serbia 56.1 → 87 Moldova 45.3 ↓ 116 Senegal 36.0 ↓ 145 Yemen 21.7 ↓
29 Malaysia 67.8 ↑ 59 Russia 56.0 ↑ 88 Ukraine 45.1 ↓ 117 Bolivia 35.8 ↓ 146 South Sudan 19.8 ↓
30 Lithuania 67.4 → 60 Armenia 55.3 ↓ 89 Dominican Republic 44.5 → 118 Uganda 35.2 ↓ 147 Chad 19.6 ↓

Note: THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS MACRO RESEARCH and is NOT a comment on Fitch Ratings' credit ratings. Any comments
or data included in the report are solely derived from Fitch Solutions Macro Research and independent sources. Fitch Ratings' analysts do not share data
or information with Fitch Solutions Macro Research.
1: Scale of 0-100, with 100 being the lowest risk
44 Source: Fitch Solutions
With an index score of 50.2, the operational risk in
Peru is relatively high
Regional comparison

Operational risk index1 worldwide and in Latin America & Caribbean in 2018

0-25 26-50 51-75 76-100

▪ In 2018, Peru ranked #75 in the Fitch operational index score out of 150 countries and territories covered by the Statista Country Reports.
▪ It comes #6 when compared to the other 24 countries in the region.

Note: THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS MACRO RESEARCH and is NOT a comment on Fitch Ratings' credit ratings. Any comments
or data included in the report are solely derived from Fitch Solutions Macro Research and independent sources. Fitch Ratings' analysts do not share data
or information with Fitch Solutions Macro Research.
1: Scale of 0-100, with 100 being the lowest risk
45 Source: Fitch Solutions
 SOCIETY
▪ Population

▪ Income

▪ Human Development Index

46
Population projected to reach 42.6 million by 2058
Population (1/4)

Population projection1 in thousand

42,055 42,609
41,286
40,299
39,106
37,724
36,157 +30.9%
34,419
32,552

2018 2023 2028 2033 2038 2043 2048 2053 2058

1: The medium fertility variant assumes that total fertility will eventually converge toward a level of 1.85 children per woman
47 Source: United Nations, Department of Economic and Social Affairs, Population Division 2017
 57.0% of the population were between the age 20
and 64, more than half of them were women
Population (2/4)

Population distribution in 2018

Male Age group Female
0.6% 80+ 0.9%
0.6% 75-79 0.7%
0.9% 70-74 1.0%
1.2% 65-69 1.4%
Σ 28.4% 1.6% 60-64 1.8% Σ 28.6%
2.0% 55-59 2.2%
2.5% 50-54 2.6%
2.8% 45-49 2.9%
3.3% 40-44 3.3%
3.6% 35-39 3.6%
4.0% 30-34 3.9%
4.3% 25-29 4.2%
4.3% 20-24 4.1%
4.4% 15-19 4.2%
4.5% 10-14 4.3%
4.6% 5-9 4.5%
4.7% 0-4 4.5%

Reading support: 3.3% of the population is female and between the age of 40 and 44.

48 Source: United Nations, Department of Economic and Social Affairs, Population Division 2017
Population increased by 1.2%, which is above regional
average, to a total of 32,551,815 in 2018
Population (3/4)

Population growth, total population, and real GDP1 per capita in US$2 in Latin America & Caribbean in 2018
Population growth 2017-2018 in % Regional average Real GDP per capita: US$2,500

2.5
Belize

Paraguay Bolivia
2.0 Guatemala
Honduras
Dominican
Panama Republic
1.5 Venezuela
Ecuador
Suriname
Peru Mexico
Haiti
1.0
Chile Latin America & Caribbean Colombia Brazil
Nicaragua
Costa Rica Argentina
Guyana
0.5 El Salvador

Uruguay Cuba3
Jamaica
0.0
0 5 10 15 20 25 30 35 40 45 50 130 210 215

Total population in millions

1: See glossary for definitions 2: Constant US$, see glossary for definition of current and constant US$ 3: GDP per capita value of 2015
Source: United Nations, Department of Economic and Social Affairs, Population Division 2017, International Monetary Fund, World Economic
49 Outlook Database 2018, The World Bank World Development Indicators 2018, Statista 2018
Peru had the 42nd highest total population in the
world in 2018
Population (4/4)

Total population in millions in 20181

# Country Population # Country Population # Country Population # Country Population # Country Population
1 China 1,415.0 31 Argentina 44.7 64 Syria 18.3 97 Serbia 8.8 135 Bosnia and Herzeg. 3.5
2 India 1,354.1 32 Uganda 44.3 65 Chile 18.2 98 Austria 8.8 136 Uruguay 3.5
3 United States 326.8 33 Ukraine 44.0 66 Zambia 17.6 99 Switzerland 8.5 137 Mongolia 3.1
4 Indonesia 266.8 34 Algeria 42.0 67 Guatemala 17.2 100 Israel 8.5 138 Albania 2.9
5 Brazil 210.9 35 Sudan 41.5 68 Netherlands 17.1 103 Sierra Leone 7.7 139 Armenia 2.9
6 Pakistan 200.8 36 Iraq 39.3 69 Zimbabwe 16.9 104 Hong Kong 7.4 140 Jamaica 2.9
7 Nigeria 195.9 37 Poland 38.1 70 Ecuador 16.9 105 Bulgaria 7.0 141 Lithuania 2.9
8 Bangladesh 166.4 38 Canada 37.0 71 Senegal 16.3 106 Laos 7.0 142 Qatar 2.7
9 Russia 144.0 39 Afghanistan 36.4 72 Cambodia 16.2 107 Paraguay 6.9 143 Namibia 2.6
10 Mexico 130.8 40 Morocco 36.2 73 Chad 15.4 108 Libya 6.5 144 Botswana 2.3
11 Japan 127.2 41 Saudi Arabia 33.6 74 Somalia 15.2 109 El Salvador 6.4 146 Gambia 2.2
12 Ethiopia 107.5 42 Peru 32.6 76 South Sudan 12.9 110 Nicaragua 6.3 147 Macedonia 2.1
13 Philippines 106.5 43 Venezuela 32.4 77 Rwanda 12.5 111 Kyrgyzstan 6.1 148 Slovenia 2.1
14 Egypt 99.4 44 Uzbekistan 32.4 78 Tunisia 11.7 112 Lebanon 6.1 149 Gabon 2.1
15 Vietnam 96.5 45 Malaysia 32.0 79 Belgium 11.5 113 Turkmenistan 5.9 150 Latvia 1.9
16 Congo (Dem Rep.)2 84.0 46 Angola 30.8 80 Cuba 11.5 114 Singapore 5.8 152 Bahrain 1.6
17 Germany 82.3 47 Mozambique 30.5 83 Bolivia 11.2 115 Denmark 5.8 155 Timor-Leste 1.3
18 Iran 82.0 48 Nepal 29.6 84 Greece 11.1 116 Finland 5.5 156 Equatorial Guinea 1.3
19 Turkey 81.9 49 Ghana 29.5 85 Haiti 11.1 117 Slovakia 5.4 157 Estonia 1.3
20 Thailand 69.2 50 Yemen 28.9 86 Dominican Republic 10.9 118 Republic of the Congo 5.4 159 Cyprus 1.2
21 United Kingdom 66.6 52 North Korea 25.6 87 Czechia 10.6 119 Norway 5.4 160 Djibouti 1.0
22 France 65.2 53 Ivory Coast 24.9 88 Portugal 10.3 122 Costa Rica 5.0 164 Bhutan 0.8
23 Italy 59.3 54 Australia 24.8 89 Sweden 10.0 124 Oman 4.8 165 Guyana 0.8
24 Tanzania 59.1 55 Cameroon 24.7 90 Azerbaijan 9.9 125 Ireland 4.8 167 Montenegro 0.6
25 South Africa 57.4 57 Niger 22.3 91 Jordan 9.9 126 New Zealand 4.7 169 Luxembourg 0.6
26 Myanmar 53.9 59 Burkina Faso 19.8 92 Hungary 9.7 129 Kuwait 4.2 170 Suriname 0.6
27 South Korea 51.2 60 Romania 19.6 93 United Arab Emirates 9.5 130 Croatia 4.2 175 Brunei Darussalam 0.4
28 Kenya 51.0 61 Malawi 19.2 94 Belarus 9.5 131 Panama 4.2 176 Malta 0.4
29 Colombia 49.5 62 Mali 19.1 95 Honduras 9.4 132 Moldova 4.0 179 Belize 0.4
30 Spain 46.4 63 Kazakhstan 18.4 96 Tajikistan 9.1 133 Georgia 3.9 180 Iceland 0.3

1: Countries not included in the Statista Country Reports are omitted in this table 2: Democratic Republic of the Congo
50 Source: United Nations, Department of Economic and Social Affairs, Population Division 2017
In 2016, the highest 20% held 48.9% of the income
while the lowest 20% only held 4.6%
Income (1/2)

Income shares of lowest and highest income levels Distribution of income in 2012
Lowest 10% Highest 10%
33.7% 33.5% 48.9%
32.9% 32.3% 32.8% 32.7%

22.0%

14.8%

9.7%

4.6%
1.5% 1.5% 1.6% 1.6% 1.6% 1.6%
IncomeDistribution

2011 2012 2013 2014 2015 2016 Lowest 20% Fourth 20% Third 20% Second 20% Highest 20%

51 Source: World Bank World Development Indicators 2018

Income growth at 6.5% was slower and income per
capita at US$5,929 was lower than average
Income (2/2)

Disposable income growth, disp. income1 per capita in US$2 and population in in Latin America & Caribbean3 in 2016
Disposable income growth 2015-2016 in % Regional average Population: 50 million

40

38
Argentina

Suriname
22
Colombia
10 Panama
Nicaragua
Guatemala Uruguay
Latin America
8 & Caribbean
Peru Costa Rica
6 Paraguay4
Honduras4 Chile
Brazil
4 Jamaica
Bolivia
2
El Salvador
Mexico4
0
Ecuador
-2
0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000

Disposable income per capita in US$

1: See glossary for definitions 2: Current US$, see glossary for definition of current and constant US$ 3: Belize, Cuba, Dominican Republic,
Guyana, Haiti and Venezuela excluded from the regional average due to unavailability of data 4: Estimate
Source: United Nations, Department of Economic and Social Affairs, Population Division 2017, United Nations Statistics Division 2018,
52 International Monetary Fund, World Economic Outlook Database 2018, Statista 2018
In global comparison, Peru has a high level of human
development
Human Development Index

Human Development Index in 2017 ▪ With 75.0%, Peru ranks #89 in comparison
of 189 countries.
0%-54% 55%-69% 70%-79% 80%-100%
▪ The Human Development Index was
created to emphasize that people and their
capabilities should be the ultimate criteria
for assessing the development of a country,
not economic growth alone

▪ The index is a summary measure of average

achievement in key dimensions of human
development: a long and healthy life, being
knowledgeable and having a decent
standard of living

53 Source: United Nations Development Programme Human Development Report 2018

 RETAIL &
CONSUMPTION
▪ eCommerce

54
Selected online store: Linio
eCommerce: selected store profile

Launch year: 2012

Company: LINIO PERÚ S.A.C.

Headquarter: San Isidro

Coverage of eCommerce categories

Food &
Electronics Furniture & Toys, hobbys
Fashion personal
& media appliances & DIY
care

    
Payment methods

Direct Bank
E-Wallets Cards Invoice Cash Other1
debits transfer

      
Logistics providers
Servientrega, Urbano, Olva Courier, Linio Motoboys, Serpost, DHL and
Fedex

1: Installments
Note: Information based on Statista fact check
55 Source: https://www.linio.com.pe 2018
Preview of Statista Country Report expansion

Coming soon…

Later in 2019, the extended content of the Statista

Country Reports will offer detailed insights into
country-specific retail and eCommerce markets:

Development stage of the retail market

Presence of global grocery chains

Country-specific grocery market features

Impressions of specific eCommerce structures

56
 INFRA-
STRUCTURE
▪ Digital

▪ Transport

▪ Electrical

57
45.1% used the internet and there were 122.1 mobile
cellular subscriptions per 100 people
Digital infrastructure (1/2)

Internet penetration1 in 2018 Mobile phone subscriptions1 per Fixed broadband subscriptions1 per
100 inhabitants in 2018 100 inhabitants in 2018

84.1% 124 34
122

106
66.4%

45.1%

13

Peru United States Latin America Peru United States Latin America Peru United States Latin America
& Caribbean & Caribbean & Caribbean

1: See glossary for definitions

58 Source: World Bank World Development Indicators 2018, Statista 2018
Peru had the 99th highest internet penetration in the
world in 2018
Digital infrastructure (2/2)

Internet penetration1 in 2018

# Country Penetration # Country Penetration # Country Penetration # Country Penetration # Country Penetration
1 Norway 98.4% 31 Latvia 84.4% 64 Djibouti 69.4% 97 Bolivia 51.0% 135 Yemen 25.2%
2 Denmark 98.3% 32 Slovakia 84.2% 65 Uruguay 68.0% 98 Tunisia 50.9% 136 Mongolia 23.8%
3 Bahrain 98.1% 33 United States 84.1% 66 Jordan 67.9% 99 Cuba 50.1% 137 Laos 23.0%
4 Qatar 97.9% 34 France 83.6% 67 Bulgaria 66.5% 100 Cambodia 50.0% 138 Bangladesh 22.0%
5 United Kingdom 97.1% 35 Cyprus 82.6% 68 Turkey 66.3% 103 Panama 49.3% 139 Mozambique 21.5%
6 Sweden 96.7% 36 Slovenia 81.9% 69 Iran 65.9% 104 Nigeria 47.1% 140 Tajikistan 21.2%
7 Netherlands 95.3% 37 Czechia 81.7% 70 Mexico 65.8% 105 Indonesia 45.4% 141 Rwanda 21.2%
8 Canada 94.7% 38 Argentina 81.6% 71 Brazil 65.6% 106 Ivory Coast 45.3% 142 Uganda 20.4%
9 United Arab Emirates 94.7% 39 Kuwait 81.2% 72 Philippines 65.4% 107 Peru 45.1% 143 Libya 19.6%
10 Luxembourg 94.7% 40 Russia 81.2% 73 Romania 65.2% 108 Jamaica 44.8% 144 Turkmenistan 19.5%
11 New Zealand 94.3% 41 Belarus 81.1% 74 Albania 64.6% 109 Egypt 43.6% 146 Gambia 19.5%
12 South Korea 94.3% 42 Hungary 81.0% 76 Morocco 64.4% 110 Suriname 43.5% 147 Nepal 19.3%
13 Switzerland 94.2% 43 Lithuania 80.6% 77 Italy 63.9% 111 Guatemala 41.4% 148 Ethiopia 19.3%
14 Iceland 94.0% 44 Croatia 80.4% 78 South Africa 63.8% 112 Ghana 40.8% 149 Kenya 18.8%
15 Germany 93.5% 45 Poland 79.5% 79 Colombia 63.7% 113 Cameroon 37.8% 150 Tanzania 16.5%
16 Brunei Darussalam 92.6% 46 Malaysia 79.2% 80 Venezuela 63.5% 114 India 35.7% 152 Pakistan 15.4%
17 Japan 92.5% 47 Oman 78.9% 83 Bhutan 62.8% 115 Namibia 35.4% 155 Angola 15.1%
18 Estonia 91.9% 48 Greece 78.6% 84 Paraguay 62.6% 116 Kyrgyzstan 34.2% 156 Burkina Faso 14.1%
19 Australia 91.5% 49 Portugal 78.5% 85 Ecuador 60.2% 117 Guyana 33.3% 157 Malawi 13.4%
20 Finland 91.4% 50 Malta 78.5% 86 Georgia 59.4% 118 Honduras 32.1% 159 Mali 13.3%
21 Belgium 91.2% 52 Moldova 77.9% 87 Thailand 58.8% 119 El Salvador 31.9% 160 Sierra Leone 12.3%
22 Hong Kong 90.0% 53 Lebanon 77.3% 88 Botswana 58.3% 122 Syria 31.9% 164 Haiti 12.0%
23 Chile 89.4% 54 Serbia 77.0% 89 China 56.9% 124 Myanmar 31.7% 165 Niger 11.7%
24 Singapore 89.0% 55 Armenia 76.7% 90 Vietnam 56.7% 125 Senegal 30.0% 167 Afghanistan 10.6%
25 Ireland 88.6% 57 Costa Rica 74.9% 91 Belize 56.6% 126 Sudan 29.4% 169 Republic of the Congo 8.8%
26 Austria 88.4% 59 Kazakhstan 73.2% 92 Gabon 54.1% 129 Timor-Leste 28.0% 170 Congo (Dem Rep.)2 7.9%
27 Spain 87.2% 60 Macedonia 72.7% 93 Ukraine 53.9% 130 Zambia 27.3% 175 South Sudan 7.8%
28 Azerbaijan 85.4% 61 Dominican Republic 72.1% 94 Uzbekistan 53.6% 131 Equatorial Guinea 27.2% 176 Chad 6.1%
29 Israel 85.3% 62 Montenegro 71.1% 95 Iraq 53.6% 132 Zimbabwe 26.1% 179 Somalia 1.7%
30 Saudi Arabia 84.8% 63 Bosnia and Herzegovina 71.1% 96 Algeria 52.4% 133 Nicaragua 25.9%

1: See glossary for definitions 2: Democratic Republic of the Congo

59 Source: World Bank World Development Indicators 2018, Statista 2018
Quality of trade and transport-related infrastructure
was higher than the regional average
Transport infrastructure

Quality of trade and transport-related infrastructure1 Freight transportation2

Peru Latin America & Caribbean

2.4 million TEU in 2017

2.7 2.7 2.6

2.6 2.6 2.5 315.9 million ton-km in 2017

900.0 million ton-km in 2014

2012 2014 2016

1: Logistics Performance Index (5 = high performance, 1 = low performance), see glossary for definition 2: Ton-kilometer = cargo weight
transported times distance transported, TEU = Twenty-foot equivalent unit (standard-size container) 3: Container port traffic
60 Source: World Bank World Development Indicators 2018
94.9% of the population in Peru had access to
electricity
Electrical infrastructure

Access to electricity Days required to get electricity

Urban population Total population Rural population

100.0%
2016 94.9% 2016 67
75.6%

98.9%
2015 93.9% 2015 67
77.9%

98.9%
2014 92.9% 2014 67
74.5%

61 Source: World Bank World Development Indicators 2018

 POLITICS
▪ Political profile

▪ Political environment

62
Peru is a newer democracy
Political profile

General information Latest election results:

Peruvian Congress of The Republic, 2016
▪ Citizens are considered to be free

▪ Form of government: democracy Popular Force other

Peruvians for Change
▪ Freedom House score in 2018: 2.5 (1 = most free and 7 = least free)
Broad Front for Justice, Life, and Lilberty
▪ Peru is characterized as a newer democracy, as the state has less
Alliance for the Progress of Peru
than thirty five years' experience with democracy and a current
Freedom House rating of 1 to 2.5

▪ Chief of state: President Martin Alberto VIZCARRA Cornejo (since 23

March 2018); First Vice President Mercedes Rosalba ARAOZ 24.0%
Fernandez (since 23 March 2018); Second Vice President (vacant);
36.3%
note - the 21 March 2018 resignation of President Pedro Pablo
KUCZYNSKI Godard (since 28 July 2016) was accepted by parliament
on 23 March 2018; the president is both Chief of state and Head of
government 9.2%
▪ Head of government: President Martin Alberto VIZCARRA Cornejo
(since 23 March 2018); First Vice President Mercedes Rosalba ARAOZ
Fernandez (since 23 March 2018); Second Vice President (vacant) 13.9%
16.5%

Voter turnout: 51%

63 Source: Political Handbook of the World 2016-2017, CIA World Factbook, ElectionGuide, Freedom House
Rule of Law in Peru is low in global comparison
Political environment: rule of law

Percentile rankings in rule of law in 2017 ▪ When it comes to the rule of law, Peru has
ranked #140 in the comparison of the 214
0%-20% 21%-40% 41%-60% 61%-80% 81%-100% countries and territories covered by the
World Bank Worldwide Governance
Indicators in 2017

▪ Percentile rank indicates the country's rank

among all countries covered by the
aggregate indicator, with 0 corresponding
to the lowest, and 100 to the highest rank

▪ Rule of law refers to the influence and

authority of law within society, particularly
as a constraint upon behavior, including
behavior of government officials

▪ This indicator captures perceptions of the

extent to which the country's population
has confidence in reliability of legal
authorities and police and the likelihood of
crime and violence to occur
▪ The rule of law also measures factors such
as the time and cost for resolving a
commercial dispute

64 Source: World Bank Worldwide Governance Indicators 2018

Control of corruption is rated as rather weak
Political environment: corruption control

Efficiency of corruption control1 in 2017

# Country Estimate # Country Estimate # Country Estimate # Country Estimate # Country Estimate
1 New Zealand 2.2 31 Cyprus 0.8 61 Greece -0.1 91 Timor-Leste -0.5 121 Russia -0.9
2 Norway 2.2 32 Georgia 0.7 62 Bahrain -0.1 92 Egypt -0.5 122 Mexico -0.9
3 Finland 2.2 33 Malta 0.7 63 Bulgaria -0.2 93 Ethiopia -0.6 123 Laos -0.9
4 Denmark 2.2 34 Qatar 0.7 64 Jamaica -0.2 94 Armenia -0.6 124 Kenya -1
5 Sweden 2.1 35 Poland 0.7 65 Suriname -0.2 95 Myanmar -0.6 125 Lebanon -1
6 Singapore 2.1 36 Brunei Darussalam 0.7 66 Turkey -0.2 96 Vietnam -0.6 126 Uganda -1
7 Switzerland 2 37 Rwanda 0.6 67 Ghana -0.2 97 Sierra Leone -0.6 127 Kyrgyzstan -1.1
8 Luxembourg 2 38 Czechia 0.6 68 India -0.2 98 Ecuador -0.6 128 Nigeria -1.1
9 Canada 1.9 39 Lithuania 0.6 69 Indonesia -0.3 99 Algeria -0.6 129 Uzbekistan -1.2
10 Netherlands 1.9 40 Latvia 0.5 70 Argentina -0.3 100 Mali -0.6 130 Cameroon -1.2
11 United Kingdom 1.8 41 Spain 0.5 71 Belarus -0.3 101 Djibouti -0.6 131 Haiti -1.2
12 Germany 1.8 42 South Korea 0.5 72 China -0.3 102 Niger -0.6 132 Zimbabwe -1.3
13 Iceland 1.8 43 Costa Rica 0.5 73 Belize -0.3 103 Malawi -0.7 133 Cambodia -1.3
14 Australia 1.8 44 Saudi Arabia 0.4 74 Macedonia -0.3 104 Bolivia -0.7 134 Rep. of the Congo -1.3
15 Hong Kong 1.6 45 Namibia 0.3 75 Kuwait -0.3 105 Gambia -0.7 135 Tajikistan -1.3
16 Bhutan 1.6 46 Cuba 0.3 76 Colombia -0.4 106 Honduras -0.7 136 Venezuela -1.4
17 Ireland 1.5 47 Jordan 0.3 77 Serbia -0.4 107 Paraguay -0.7 137 Iraq -1.4
18 Austria 1.5 48 Oman 0.2 78 Thailand -0.4 108 Dominican Republic -0.7 138 Angola -1.4
19 Japan 1.5 49 Slovakia 0.2 79 Albania -0.4 109 Guatemala -0.7 139 Congo (Dem Rep)² -1.4
20 Belgium 1.5 50 Italy 0.2 80 Mongolia -0.5 110 Nepal -0.7 140 Chad -1.4
21 United States 1.4 51 Croatia 0.2 81 Philippines -0.5 111 Pakistan -0.8 141 North Korea -1.5
22 Uruguay 1.3 52 Hungary 0.1 82 Tanzania -0.5 112 Ukraine -0.8 142 Turkmenistan -1.5
23 France 1.3 53 Malaysia 0 83 Peru -0.5 113 Moldova -0.8 143 Afghanistan -1.5
24 Estonia 1.2 54 South Africa 0 84 El Salvador -0.5 114 Gabon -0.8 144 Sudan -1.5
25 UAE 1.1 55 Romania 0 85 Guyana -0.5 115 Iran -0.8 145 Syria -1.6
26 Chile 1 56 Senegal -0.1 86 Bosnia and Herz. -0.5 116 Kazakhstan -0.8 146 Libya -1.6
27 Portugal 0.9 57 Montenegro -0.1 87 Ivory Coast -0.5 117 Bangladesh -0.8 147 Yemen -1.6
28 Israel 0.8 58 Tunisia -0.1 88 Brazil -0.5 118 Mozambique -0.9 148 South Sudan -1.7
29 Slovenia 0.8 59 Burkina Faso -0.1 89 Zambia -0.5 119 Nicaragua -0.9 149 Somalia -1.7
30 Botswana 0.8 60 Morocco -0.1 90 Panama -0.5 120 Azerbaijan -0.9 150 Equatorial Guinea -1.8

1: See glossary for definitions 2:Democratic Republic of the Congo

Note: Ranked from strong (2.5) to weak (-2.5) by country
65 Source: World Bank Worldwide Governance Indicators 2018
Regulatory quality in Peru is on a high level
Political environment: regulatory quality

Percentile rankings in regulatory quality in Latin America & Caribbean in 2017 ▪ In 2017, Peru ranked #69 in Regulatory
Quality out of 214 countries and territories
0%-20% 21%-40% 41%-60% 61%-80% 81%-100% covered by the Worldwide Governance
Indicators

▪ It comes #4 when compared to other 24

countries in its region Latin America &
Caribbean

▪ Percentile rank indicates the country's rank

among all countries covered by the
aggregate indicator, with 0 corresponding
to the lowest, and 100 to the highest rank

▪ Regulations are the rules that govern the

everyday life of a country. Regulatory quality
captures the ability of the government to
create and implement policies and
procedures that support economic growth
and social welfare

66 Source: World Bank Worldwide Governance Indicators 2018

Moderate risks from political instability and threat of
violence or terrorism
Political environment: governance

Governance against political instability and threat of violence/terrorism in 2017

# Country Estimate # Country Estimate # Country Estimate # Country Estimate # Country Estimate
1 New Zealand 1.5 31 Cuba 0.7 61 Zambia 0.1 91 Bolivia -0.3 121 Bahrain -0.9
2 Singapore 1.5 32 Estonia 0.7 62 Serbia 0.1 92 Georgia -0.4 122 Algeria -1.0
3 Iceland 1.4 33 Namibia 0.7 63 Ghana 0.1 93 Bosnia and Herzeg. -0.4 123 Mozambique -1.0
4 Luxembourg 1.3 34 United Arab Em. 0.6 64 Romania 0.1 94 Brazil -0.4 124 Tunisia -1.1
5 Malta 1.3 35 Cyprus 0.6 65 Belize 0.1 95 Morocco -0.4 125 Myanmar -1.1
6 Switzerland 1.2 36 Germany 0.6 66 Rwanda 0.0 96 Kyrgyzstan -0.4 126 Kenya -1.1
7 Brunei Darussalam 1.2 37 Qatar 0.5 67 Sierra Leone 0.0 97 North Korea -0.5 127 Cameroon -1.1
8 Norway 1.2 38 Poland 0.5 68 Timor-Leste 0.0 98 Indonesia -0.5 128 Ivory Coast -1.1
9 Bhutan 1.1 39 Costa Rica 0.5 69 Belarus 0.0 99 Rep. of the Congo -0.5 129 Venezuela -1.2
10 Japan 1.1 40 Latvia 0.5 70 Kazakhstan 0.0 100 Jordan -0.5 130 Philippines -1.2
11 Canada 1.1 41 Laos 0.4 71 Montenegro 0.0 101 Honduras -0.6 131 Bangladesh -1.2
12 Portugal 1.1 42 Belgium 0.4 72 Guyana 0.0 102 Uganda -0.6 132 Niger -1.3
13 Finland 1.1 43 Albania 0.4 73 Kuwait 0.0 103 Guatemala -0.6 133 Chad -1.3
14 Uruguay 1.1 44 Panama 0.4 74 Senegal 0.0 104 Tanzania -0.6 134 Egypt -1.4
15 Austria 1.0 45 Chile 0.4 75 Nicaragua 0.0 105 Saudi Arabia -0.6 135 Lebanon -1.6
16 Botswana 1.0 46 Bulgaria 0.4 76 Gabon -0.1 106 Mexico -0.6 136 Ethiopia -1.7
17 Ireland 1.0 47 Vietnam 0.3 77 Ecuador -0.1 107 Nepal -0.7 137 Turkey -1.8
18 Czechia 1.0 48 United States 0.3 78 Greece -0.1 108 Tajikistan -0.7 138 Ukraine -1.9
19 Sweden 1.0 49 South Korea 0.3 79 Equatorial Guinea -0.1 109 Russia -0.7 139 Mali -1.9
20 Netherlands 0.9 50 Spain 0.3 80 Turkmenistan -0.1 110 Haiti -0.7 140 Nigeria -1.9
21 Australia 0.9 51 United Kingdom 0.3 81 Gambia -0.2 111 Armenia -0.7 141 Sudan -2.0
22 Slovenia 0.9 52 Jamaica 0.3 82 Moldova -0.2 112 Djibouti -0.7 142 Congo (Dem Rep)1 -2.3
23 Slovakia 0.9 53 Italy 0.2 83 El Salvador -0.2 113 Thailand -0.8 143 Libya -2.3
24 Denmark 0.9 54 France 0.2 84 Macedonia -0.2 114 Azerbaijan -0.8 144 Somalia -2.3
25 Hong Kong 0.8 55 Argentina 0.2 85 China -0.3 115 Zimbabwe -0.8 145 Iraq -2.3
26 Mongolia 0.8 56 Cambodia 0.2 86 Peru -0.3 116 Colombia -0.8 146 Pakistan -2.4
27 Hungary 0.8 57 Malaysia 0.2 87 South Africa -0.3 117 India -0.8 147 South Sudan -2.5
28 Lithuania 0.8 58 Dominican Republic 0.2 88 Malawi -0.3 118 Israel -0.9 148 Syria -2.6
29 Croatia 0.7 59 Suriname 0.1 89 Uzbekistan -0.3 119 Burkina Faso -0.9 149 Afghanistan -2.8
30 Oman 0.7 60 Paraguay 0.1 90 Angola -0.3 120 Iran -0.9 150 Yemen -2.9

1: Democratic Republic of the Congo

Note: Ranked from strong (1.5) to weak (-3).. This indicator measures perceptions of the likelihood of political instability and/or politically-
motivated violence, including terrorism
67 Source: World Bank Worldwide Governance Indicators 2018
 APPENDIX
▪ Data description and methods

▪ Glossary

▪ Authors

68
Methodology and data used in this report
Data description and methods

Data sources
The Statista Country Reports present quantitative data from various private and public sources of information. These sources include the International
Monetary Fund, the World Bank, the United Nations, the OECD, the World Economic Forum, the International Labour Organization, the CIA World
Factbook, the Election Guide, the Freedom House, the Political Handbook of the World and Statista itself. The data sources are indicated in footnotes
throughout the report.

Forecasts and estimates

Certain diagrams within this Country Report include estimates or forecast values for the years 2017 to 2058. Missing datapoints in time series are
subjected to interpolation when necessary. Estimated values and their sources are indicated in footnotes throughout the report.

Real GDP calculation

A country's real GDP is an inflation-adjusted GDP assessment reflecting its net growth. It can be used to compare economy sizes across countries. The
data in this report are presented in U.S. dollars and maintain the growth rates of the real GDP series. The data are expressed in the base year of each
country's national accounts, the year is country specific. For more information please refer to World Economic Outlook Database FAQ.

Difference between current and constant US$

Data reported in current US$ reflect the value the currency has in a particular year. Current data series are influenced by the effect of price inflation and
differences in exchange rates and the comparability of growth rates between countries is limited.

Data expressed in constant US$ reflect the value of a currency in a particular base year. The individual base year listed in a country’s national accounts
differs from country to country. Constant series are used to measure the true growth of a series by adjusting for the effects of price inflation.

69
Glossary of terms
Glossary (1/3)
Central bank interest rates: The central bank policy rate (CBPR)
is the interest rate that is used by central banks to implement or signal
their monetary policy stance. It is set to influence the economy (e.g.
consumer prices, exchange rate or credit expansion, among others). It
also establishes the levels of the rest of the interest rates in the
economy as most private banks obtain their money from the central
banks at that rate.
Constant US$: Data expressed in constant US$ show the data for
each year in the value of a particular base year. The base year of each
country's national accounts is country specific. Constant series are used
to measure the true growth of a series by adjusting for the effects of
price inflation.
Control of corruption: Perceptions of the extent to which public
power is exercised for private gain, including both petty and grand forms
of corruption, as well as "capture" of the state by elites and private
interests.
Current US$: Data reported in current US$ reflect the value the
currency has in a particular year. Current data series are influenced by
the effect of price inflation and differences in exchange rates and the
comparability of growth rates between countries is limited.
70
Disposable income: Gross national disposable income may be
derived from gross national income by adding all current transfers in
cash or in kind, receivable by resident institutional units from non-
resident units, and subtracting all current transfers in cash or in kind
payable by resident institutional units to non-resident units.
Ease of doing business score: The ease of doing business score
captures the gap of each economy from the best regulatory
performance observed across all economies considered. An economy's
ease of doing business score is reflected on a scale from 0 to 100, where
0 represents the lowest and 100 represents the best performance.
Expense (% of GDP): Expense is cash payments for operating
activities of the government in providing goods and services. It includes
compensation of employees (such as wages and salaries), interest and
subsidies, grants, social benefits, and other expenses such as rent and
dividends.
Fiscal deficit/surplus: Fiscal deficit occurs when government
expenses exceed revenues. When revenues exceed expenses, there is a
fiscal surplus.
Fixed broadband subscriptions: Fixed subscriptions to high-
speed access to the public internet at downstream speeds equal to or
greater than 256 kbit/s.
Glossary of terms
Glossary (2/3)
Foreign direct investment: Foreign direct investment is an
investment made by a resident enterprise in one economy (direct
investor or parent enterprise) with the objective of establishing a lasting
interest in an enterprise that is resident in another economy.
General government gross debt: Gross government debt
consists of all liabilities that require payment or payments of interest
and/or principal by the debtor (government) to the creditor at a date or
dates in the future, such as loans, insurance, pensions and debt
securities.
Government expense: Expense is cash payments for operating
activities of the government in providing goods and services. It includes
compensation of employees (such as wages and salaries), interest and
subsidies, grants, social benefits, and other expenses such as rent and
dividends.
Government revenue: Revenue is cash receipts from taxes, social
contributions, and other revenues such as fines, fees, rent, and income
from property or sales. Grants are also considered as revenue but are
excluded here.
Gross domestic product: Gross domestic product is the expen-
diture on goods and services by residents in the form of consumption
expenditures, gross capital formation and exports minus imports.
71
Inflation: The rate of inflation is the percent change in the average
consumer price index (CPI). The average CPI is a measure of a country's
average level of prices based on the cost of a typical basket of consumer
goods and services in a given period.
Internet penetration: Share of individuals in the country who have
used the Internet (from any location) in the last 3 months.
Labor force: The labor force is the sum of persons in employment
plus persons in unemployment. Together these two groups of the
population represent the current supply of labor for the production of
goods and services taking place in a country through market
transactions in exchange for remuneration.
Logistics performance index: Logistics professionals' perception
of a country's quality of trade and transport-related infrastructure (e.g.
ports, railroads, roads, information technology), on a scale ranging from
1 (very low) to 5 (very high). Scores are averaged across all respondents.
Merchandise trade: Goods which add or subtract from the stock of
material resources of a country by entering (imports) or leaving (exports)
its economic territory.
Glossary of terms
Glossary (3/3)

Mobile phone subscriptions: Subscriptions to a public mobile Trade in commercial services: Trade in services refers to the
telephone service that provide access to the PSTN using cellular sale and delivery of an intangible product, called a service, between a
technology. producer and consumer across country borders.

Net official development assistance: Net official development
assistance (ODA) consists of disbursements of loans made on
concessional terms (net of repayments of principal) and grants by official
agencies of the members of the Development Assistance Committee
(DAC), by multilateral institutions, and by non-DAC countries to promote
economic development and welfare in countries and territories in the
DAC list of ODA recipients. It includes loans with a grant element of at
least 25 percent (calculated at a rate of discount of 10 percent).
Unemployment: Unemployment refers to the share of the labor
force that is without work but available for and seeking employment.
Value added: Value added is the net output of a sector after adding
up all outputs and subtracting intermediate inputs. It is calculated
without making deductions for depreciation of fabricated assets or
depletion and degradation of natural resources.

Real GDP: Real gross domestic product (GDP) is an inflation-adjusted

measure that reflects the value of all goods and services produced by an
economy in a given year, expressed in base-year prices, and is often
referred to as "constant-price", "inflation-corrected" GDP or "constant
dollar GDP". Unlike nominal GDP, real GDP can account for changes in
price level and provide a more accurate figure of economic growth.

Revenue, excluding grants (% of GDP): Revenue is cash

receipts from taxes, social contributions, and other revenues such as
fines, fees, rent, and income from property or sales. Grants are also
considered as revenue but are excluded here.

72
About the Statista Global Consumer Survey

50+ 28 1,400+ 120,000+

topics & industries countries int. brands consumers

The Statista Global Consumer Survey offers a global perspective

Marketing & Health
on consumption and media usage, covering the offline and online Social Media
world of the consumer. It is designed to help marketers, planners
and product managers understand consumer behavior and
consumer interactions with brands. eCommerce & Smart Home
Retail
▪ Customized Target Groups
▪ Do-it-yourself Analyses Internet & Devices Travel
▪ Content Specials

Digital Media eServices

Mobility Characteristics &

Demographics

Finance Additional
Characteristics

Find out more on www.statista.com/customercloud/global-consumer-survey

73
About the Statista Consumer Market Outlook

200+ 50+ 13 50,000+

markets countries years (2010-2023) interactive statistics

The Consumer Market Outlook presents the key performance 4 Home &
Accessories
indicators sales, revenues and prices of the most important Laundry Care
consumer markets worldwide. Our specialized analysts’ market
calculations are based on data from validated sources. Alcoholic Drinks Hot Drinks

Household
▪ Revenues, sales, prices and forecasts Apparel
Appliances
▪ More than 200 product categories in up to 50 countries
Consumer Non-Alcoholic
▪ Covering the period 2010 to 2023 Electronics Drinks

Cosmetics & OTC

Personal Care Pharmaceuticals

Eyewear Luxury Goods

Tissue &
Food
Hygiene Paper

Tobacco
Footwear
Products

Furniture Toys & Hobby

Find out more on www.statista.com/outlook/consumer-markets

74
About the Statista Digital Market Outlook

90+ 50+ 7 30,000+

markets countries years (2017-2023) interactive statistics

The Digital Market Outlook presents up-to-date figures on markets of the

digital economy. The comparable key figures are based on extensive analyses
of relevant indicators from the areas of society, economy, and technology.
What is the size of the eCommerce fashion market in Spain?
How many connected cars are already on the road in China?

The answers to these and many more questions can be found in Statista's
Digital Market Outlook. It provides forecasts, detailed market insights, and key
indicators for the digital economy.

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Direct access & downloads, fully integrated into the Statista database

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About the Statista Mobility Market Outlook
Key figures from the world of automotive and mobility

Small SUVs Pickup Trucks

The Mobility Market Outlook combines key topics in mobility and
provides relevant figures and forecasts of both the automotive market
and the market of mobility services on a global scale. Large SUVs Full-size Vans
Find over 75,000 statistics about the Automotive industry:
▪ Car classes, brands, fuel types Sports Cars Minivans
▪ Connected cars, car & ride sharing
▪ Revenues, volume sales and prices for over 25 countries Mini Cars Small Cars

Coming in 2019:
Medium Cars Large Cars

Flights – airlines and carriers, flight types

Executive Cars Luxury Cars

Motorcycles – motorcycle types

Connected
Connected Cars
Hardware
Public transport – mobility carriers, online/offline shares
Infotainment
Vehicle Services
Services

Find out more on https://www.statista.com/outlook/mobility-markets

About the Statista Toplists
Find information on top companies worldwide

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The Toplists are the perfect way to start researching leads in your sales
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77
About Statista Research & Analysis
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78
Authors, Imprint, and Disclaimer

Tytti Mälkki Oliver Sánchez Volker Staffa Melanie Mesloh

Analyst Analyst Senior Analyst Junior Analyst

tytti.maelkki@statista.com oliver.sanchez@statista.com volker.staffa@statista.com melanie.mesloh@statista.com

Imprint
Statista ▪ Johannes-Brahms-Platz 1 ▪ 20355 Hamburg ▪ +49 40 413 49 89 0 ▪ www.statista.com

Disclaimer
This study is based on survey and research data from the previously mentioned sources. The forecasts and market analysis presented were researched and prepared
by Statista with great care.
For the presented survey data, estimations, and forecasts Statista cannot assume warranty of any kind. Surveys and forecasts contain information not naturally
representing a reliable basis for decisions in individual cases and may require further interpretation. Therefore, Statista is not liable for any damage arising from the use
of statistics and data provided in this report.

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