Canadian Banking and Residential Mortgages Overview
Peruvian Economy
Resilient economic fundamentals
Peru's important resource sectors are
increasingly balanced by stronger service-sector
activity and solid economic fundamentals.
Peru has 18 free-trade agreements with 52
countries that account for 66% of global GDP.
Government spending, transfer programs, and
pension withdrawals helped to bolster a
rebound into 2022.
12.8%
Manufacturing
10.5%
Wholesale & Retail
Trade
Other
PERUVIAN GDP
BY INDUSTRY
(Q3-2021)
GDP 2021E: 13.3%
GDP 2022F:
2.6%
GDP 2023F: 2.8%
Sources: Scotiabank Economics, Bloomberg, as of February 18, 2022.
Contributions to Peruvian GDP Growth
3 N WAS
20
50
y/y % change
40
30
10
0
-10
Net Exports
Investment
Inventories
Government
-20
Consumption
Real GDP
-30
-40
17
18
19
20
21
Sources: Scotiabank Economics, Haver Analytics.
31.2%
11.7%
Mining, Oil, & Gas
6.3%
Construction
1.9%
Electricity & Water
8.0%
Top Trading Partners*
China
29%
Others
36%
Natural
Resources
India 4%
United States
15%
South Korea 5%
EU
11%
* Trade data updated as of Q3-2021.
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