| Home | Asset
Pricing | News
& Market Journal | Research |
Geography
Location: Western South America, bordering the South Pacific Ocean, between Chile and Ecuador
Geographic coordinates: 10 00 S, 76 00 W
Map references: South America
Area:
total area: 1,285,220 sq km
land area: 1.28 million sq km
comparative area: slightly smaller than Alaska
Land boundaries:
total: 6,940 km
border countries: Bolivia 900 km, Brazil 1,560 km, Chile 160 km, Colombia 2,900 km, Ecuador 1,420 km
Coastline: 2,414 km
Maritime claims:
continental shelf: 200 nm
territorial sea: 200 nm
International disputes: three sections of the boundary with Ecuador are in dispute
Climate: varies from tropical in east to dry desert in west
Terrain: western coastal plain (costa), high and rugged Andes in center (sierra), eastern lowland jungle of Amazon Basin (selva)
lowest point: Pacific Ocean 0 m
highest point: Nevado Huascaran 6,768 m
Natural resources: copper, silver, gold, petroleum, timber, fish, iron ore, coal, phosphate, potash
Land use:
arable land: 3%
permanent crops: 0%
meadows and pastures: 21%
forest and woodland: 55%
other: 21%
Irrigated land: 12,500 sq km (1989 est.)
Environment:
current issues: deforestation; overgrazing of the slopes of the costa and sierra leading to soil erosion; desertification; air pollution in Lima; pollution of rivers and coastal waters from municipal and mining wastes
natural hazards: earthquakes, tsunamis, flooding, landslides, mild volcanic activity
international agreements: party to - Antarctic-Environmental Protocol, Antarctic Treaty, Biodiversity, Climate Change, Desertification, Endangered Species, Hazardous Wastes, Nuclear Test Ban, Ozone Layer Protection, Ship Pollution, Tropical Timber 83, Tropical Timber 94, Wetlands
Geographic note: shares control of Lago Titicaca, world's highest navigable lake, with Bolivia
People
Population: 24,523,408 (July 1996 est.)
Age structure:
0-14 years: 35% (male 4,360,379; female 4,214,970)
15-64 years: 61% (male 7,480,747; female 7,375,825)
65 years and over: 4% (male 497,775; female 593,712) (July 1996 est.)
Population growth rate: 1.74% (1996 est.)
Birth rate: 24.33 births/1,000 population (1996 est.)
Death rate: 6.13 deaths/1,000 population (1996 est.)
Net migration rate: -0.76 migrant(s)/1,000 population (1996 est.)
Sex ratio:
at birth: 1.05 male(s)/female
under 15 years: 1.03 male(s)/female
15-64 years: 1.01 male(s)/female
65 years and over: 0.84 male(s)/female
all ages: 1.01 male(s)/female (1996 est.)
Infant mortality rate: 52.2 deaths/1,000 live births (1996 est.)
Life expectancy at birth:
total population: 69.13 years
male: 66.97 years
female: 71.39 years (1996 est.)
Total fertility rate: 3.04 children born/woman (1996 est.)
Nationality:
noun: Peruvian(s)
adjective: Peruvian
Ethnic divisions: Indian 45%, mestizo (mixed Indian and European ancestry) 37%, white 15%, black, Japanese, Chinese, and other 3%
Religions: Roman Catholic
Languages: Spanish (official), Quechua (official), Aymara
Literacy: age 15 and over can read and write (1995 est.)
total population: 88.7%
male: 94.5%
female: 83%
Government
Name of country:
conventional long form: Republic of Peru
conventional short form: Peru
local long form: Republica del Peru
local short form: Peru
Data code: PE
Type of government: republic
Capital: Lima
Administrative divisions: 24 departments (departamentos, singular - departamento) and 1 constitutional province* (provincia constitucional); Amazonas, Ancash, Apurimac, Arequipa, Ayacucho, Cajamarca, Callao*, Cusco, Huancavelica, Huanuco, Ica, Junin, La Libertad, Lambayeque, Lima, Loreto, Madre de Dios, Moquegua, Pasco, Piura, Puno, San Martin, Tacna, Tumbes, Ucayali
note: the 1979 constitution mandated the creation of regions (regiones, singular - region) to function eventually as autonomous economic and administrative entities; so far, 12 regions have been constituted from 23 of the 24 departments - Amazonas (from Loreto), Andres Avelino Caceres (from Huanuco, Pasco, Junin), Arequipa (from Arequipa), Chavin (from Ancash), Grau (from Tumbes, Piura), Inca (from Cusco, Madre de Dios, Apurimac), La Libertad (from La Libertad), Los Libertadores-Huari (from Ica, Ayacucho, Huancavelica), Mariategui (from Moquegua, Tacna, Puno), Nor Oriental del Maranon (from Lambayeque, Cajamarca, Amazonas), San Martin (from San Martin), Ucayali (from Ucayali); formation of another region has been delayed by the reluctance of the constitutional province of Callao to merge with the department of Lima; because of inadequate funding from the central government and organizational and political difficulties, the regions have yet to assume major responsibilities; the 1993 constitution retains the regions but limits their authority; the 1993 constitution also reaffirms the roles of departmental and municipal governments
Independence: 28 July 1821 (from Spain)
National holiday: Independence Day, 28 July (1821)
Constitution: 31 December 1993
Legal system: based on civil law system; has not accepted compulsory ICJ jurisdiction
Suffrage: 18 years of age; universal
Executive branch:
chief of state and head of government: President Alberto Kenyo FUJIMORI Fujimori (since 28 July 1990) was elected for a five-year term by universal suffrage; election last held 9 April 1995 (next to be held NA 2000); results - Alberto FUJIMORI 64.42%, Javier PEREZ de CUELLAR 21.80%, Mercedes CABANILLAS 4.11%, other 9.67%
cabinet: Council of Ministers was appointed by the president
note: Prime Minister Alberto PANDOLFI Arbulu (since 3 April 1996) does not exercise executive power; this power is in the hands of the president
Legislative branch: unicameral
Congress: elections last held 9 April 1995 (next to be held NA April 2000); results - C90/NM 52.1%, UPP 14%, 11 other parties 33.9%; seats - (120 total, when installed on 28 July 1995) C90/NM 67, UPP 17, APRA 8, FIM 6, (CODE)-Pais Posible 5, AP 4, PPC 3, Renovacion 3, IU 2, OBRAS 2, MIA 1, FRENATRACA 1, FREPAP 1
Judicial branch: Supreme Court of Justice (Corte Suprema de Justicia), judges are appointed by the National Council of the Judiciary
Political parties and leaders: Change 90-New Majority (C90/NM), Alberto FUJIMORI; Union for Peru (UPP), Javier PEREZ de CUELLAR; American Popular Revolutionary Alliance (APRA), Agustin MANTILLA Campos; Independent Moralizing Front (FIM), Fernando OLIVERA Vega; Democratic Coordinator (CODE) - Pais Posible, Jose BARBA Caballero and Alejandro TOLEDO; Popular Action Party (AP), Raul DIEZ CANSECO; Popular Christian Party (PPC), Luis BEDOYA Reyes; Renovacion, Rafael REY Rey; Civic Works Movement (OBRAS), Ricardo BELMONT; United Left (IU), Agustin HAYA de la TORRE; Independent Agrarian Movement (MIA), Rolando SALVATERRIE; Peru 2000-National Front of Workers and Peasants (FRENATRACA), Roger CACARES; Popular Agricultural Front (FREPAP), Ezequiel ATAUCUSI
Other political or pressure groups: leftist guerrilla groups include Shining Path, Abimael GUZMAN Reynoso (imprisoned); Tupac Amaru Revolutionary Movement, Nestor SERPA and Victor POLAY (imprisoned)
International organization participation: AG, CCC, ECLAC, FAO, G-11, G-15, G-19, G-24, G-77, IADB, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ISO (correspondent), ITU, LAES, LAIA, NAM, OAS, OPANAL, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in US:
chief of mission: Ambassador Ricardo V. LUNA MENDOZA
chancery: 1700 Massachusetts Avenue NW, Washington, DC 20036
telephone: [1] (202) 833-9860 through 9869
FAX: [1] (202) 659-8124
consulate(s) general: Chicago, Houston, Los Angeles, Miami, New York, Paterson (New Jersey), and San Francisco
US diplomatic representation:
chief of mission: Ambassador Alvin P. ADAMS, Jr.
embassy: Avenida Encalada, Cuadra 17, Monterrico, Lima
mailing address: P. O. Box 1995, Lima 1; American Embassy (Lima), APO AA 34031
telephone: [51] (12) 21-1202
FAX: [51] (12) 21-3543
Flag: three equal, vertical bands of red (hoist side), white, and red with the coat of arms centered in the white band; the coat of arms features a shield bearing a llama, cinchona tree (the source of quinine), and a yellow cornucopia spilling out gold coins, all framed by a green wreath
Economy
Economic overview: The Peruvian economy has become increasingly market-oriented, with major privatizations completed since 1990 in the mining, electricity, and telecommunications industries. In the 1980s, the economy suffered from hyperinflation, declining per capita output, and mounting external debt. Peru was shut off from IMF and World Bank support in the mid-1980s because of its huge debt arrears. An austerity program implemented shortly after the FUJIMORI government took office in July 1990 contributed to a third consecutive yearly contraction of economic activity, but the slide came to a halt late that year, and in 1991 output rose 2.4%. After a burst of inflation as the austerity program eliminated government price subsidies, monthly price increases eased to the single-digit level and by December 1991 dropped to the lowest increase since mid-1987. Lima obtained a financial rescue package from multilateral lenders in September 1991, although it faced $14 billion in arrears on its external debt. By working with the IMF and World Bank on new financial conditions and arrangements, the government succeeded in ending its arrears by March 1993. In 1992, GDP fell by 2.8%, in part because a warmer-than-usual El Nino current resulted in a 30% drop in the fish catch, but the economy rebounded as strong foreign investment helped push growth to 6% in 1993, about 13% in 1994, and 6.8% in 1995.
GDP: purchasing power parity - $87 billion (1995 est.)
GDP real growth rate: 6.8% (1995 est.)
GDP per capita: $3,600 (1995 est.)
GDP composition by sector:
agriculture: NA%
industry: NA%
services: NA%
Inflation rate (consumer prices): 10.2% (1995 est.)
Labor force: 8 million (1992)
by occupation: agriculture, mining and quarrying, manufacturing, construction, transport, services
Unemployment rate: 15%; extensive underemployment (1992 est.)
Budget:
revenues: $8.5 billion
expenditures: $9.3 billion including capital expenditures of $NA (1996 est.)
Industries: mining of metals, petroleum, fishing, textiles, clothing, food processing, cement, auto assembly, steel, shipbuilding, metal fabrication
Industrial production growth rate: NA%
Electricity:
capacity: 4,190,000 kW
production: 11.2 billion kWh
consumption per capita: 448 kWh (1993)
Agriculture: coffee, cotton, sugarcane, rice, wheat, potatoes, plantains, coca; poultry, red meats, dairy products, wool; fish catch of 6.9 million metric tons (1990)
Illicit drugs: world's largest coca leaf producer with about 115,300 hectares under cultivation in 1995; source of supply for most of the world's coca paste and cocaine base; at least 85% of coca cultivation is for illicit production; most of cocaine base is shipped to Colombian drug dealers for processing into cocaine for the international drug market, but exports of finished cocaine are increasing
Exports: $5.6 billion (f.o.b., 1995 est.)
commodities: copper, zinc, fishmeal, crude petroleum and byproducts, lead, refined silver, coffee, cotton
partners: US 19%, Japan 9%, Italy, Germany
Imports: $7.4 billion (f.o.b., 1995 est.)
commodities: machinery, transport equipment, foodstuffs, petroleum, iron and steel, chemicals, pharmaceuticals
partners: US 21%, Colombia, Argentina, Japan, Germany, Brazil
External debt: $22.4 billion (1994 est.)
Economic aid:
recipient: ODA, $363 million (1993)
Currency: 1 nuevo sol (S/.) = 100 centimos
Exchange rates: nuevo sol (S/.) per US$1 - 2.350 (January 1996), 2.253 (1995), 2.195 (1994), 1.988 (1993), 1.246 (1992), 0.773 (1991)
Fiscal year: calendar year
Transportation
Railways:
total: 2,041 km
standard gauge: 1,726 km 1.435-m gauge
narrow gauge: 315 km 0.914-m gauge (1994)
Highways:
total: 69,942 km
paved: 13,538 km
unpaved: 56,404 km (1987 est.)
Waterways: 8,600 km of navigable tributaries of Amazon system and 208 km of Lago Titicaca
Pipelines: crude oil 800 km; natural gas and natural gas liquids 64 km
Ports: Callao, Chimbote, Ilo, Matarani, Paita, Puerto Maldonado, Salaverry, San Martin, Talara, Iquitos, Pucallpa, Yurimaguas
note: Iquitos, Pucallpa, and Yurimaguas are all on the upper reaches of the Amazon and its tributaries
Merchant marine:
total: 9 ships (1,000 GRT or over) totaling 77,584 GRT/144,030 DWT
ships by type: bulk 2, cargo 7 (1995 est.)
Airports:
total: 230
with paved runways over 3,047 m: 5
with paved runways 2,438 to 3,047 m: 15
with paved runways 1,524 to 2,437 m: 12
with paved runways 914 to 1,523 m: 6
with paved runways under 914 m: 96
with unpaved runways over 3,047 m: 1
with unpaved runways 2,438 to 3,047 m: 2
with unpaved runways 1,524 to 2,437 m: 22
with unpaved runways 914 to 1,523 m: 71 (1995 est.)
Communications
Telephones: 779,306 (1990 est.)
Telephone system: adequate for most requirements
domestic: nationwide microwave radio relay system and a domestic satellite system with 12 earth stations
international: satellite earth stations - 2 Intelsat (Atlantic Ocean)
Radio broadcast stations: AM 273, FM 0, shortwave 144
Radios: 5.7 million (1992 est.)
Television broadcast stations: 140
Televisions: 2 million (1993 est.)
Defense
Branches: Army (Ejercito Peruano), Navy (Marina de Guerra del Peru; includes Naval Air, Marines, and Coast Guard), Air Force (Fuerza Aerea del Peru), National Police
Manpower availability:
males age 15-49: 6,441,513
males fit for military service: 4,347,460
males reach military age (20) annually: 255,067 (1996 est.)
Defense expenditures: exchange rate conversion - $998 million, 1.6% of GDP (1996)
| Home | Asset Pricing | News & Analysis | Research | Related Sites | Table of Contents | Search We welcome your comments, opinions,
and submissions to EMC. Copyright ©
1996-2000, The Emerging
Markets Companion, and/or its licensors. All Rights Reserved. The
information herein was obtained from sources which The Emerging Markets Companion, Inc.
and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the
information, nor any opinion expressed, constitutes a solicitation of the purchase or sale
of any securities or commodities. Please
read our full disclaimer. |