GDP Composition


Peru is well known for its mining and fishing activities. Its generous mineral resources have given Peru a recurrent top position in global rankings for Gold, Silver, Tin, Zinc and Lead production. GDPstructure2014It is also one of the top ten fishing nations in the world. However, despite the relevance of these sectors in Peruvian trade activities; these neither represent a large portion of its GDP nor have been the decisive force behind the outstanding growth rates achieved by the Peruvian Economy in the last decades.

A closer look to the Peruvian GDP composition shows that the services industries are by far the most important sector in the economy. This group represents more than half of the Peruvian GDP resulting from commerce, public utilities and other services such as transports, lodging, banking, insurance, public services, real estate, education, health services and housekeeping activities.

GDPevolution2014The second largest group, with nearly a quarter of the Peruvian GDP, is composed by manufacturing and construction activities. The third group, gathering the extractive industries, represents slightly more than 10 percent of the GDP mainly because of mining activities with fishing with a small contribution to the GDP.

In the last ten years, transformative industries have been more dynamic than extractive industries. This, together with their relevant share in their GDP, has pinpointed a sustainable economic growth led by a strong domestic demand whilst creating new opportunities for SMEs in those sectors.

 

Peru: On the Road to OECD