Digital Progress: Canada
Peruvian Economy
HIGHLIGHTS 1
GDP 2022: 2.7%
GDP 2023F: 1.9%
GDP 2024F: 2.2%
PERUVIAN GDP BY INDUSTRY2
12.6%
Manufacturing
12.4%
.
Growth could continue to be driven by exports
Mining, Oil, & Gas
•
Economics fundamentals and balances remain strong
11.0%
•
State management has improved
.
Business confidence is improving in line with a sense of greater
political stability
Wholesale & Retail
Trade
148.86Bn
PEN2007 NSA
(Q4-2022)
8.1%
Construction
1.9%
•
Risk 2024: El Niño extreme weather event
Electricity & Water
Other
50.7%
6.0%
Natural
Resources
CONTRIBUTIONS TO PERUVIAN GDP GROWTH 2
TOP TRADING PARTNERS ³
50
y/y % change
40
30
20
10
10
o
-10
-20
-30
-40
18
Net Exports
Investment
Inventories
Government
Consumption
Real GDP
19
20
21
22
22
Others
46%
China
25%
T
United States
18%
Brazil 3%
Canada 4%
Japan 4%
1 Sources: Scotiabank Economics, Bloomberg, as of May 18, 2023; 2 Sources: Scotiabank Economics, Haver Analytics; 3 Trade data updated as of Q4-2022
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