Competitiveness of Peru: main gains and losses

In competitiveness of Peru, its best progress was in the current account balance and its biggest fall was in the Gross Domestic Product (GDP) per capita, according to the 2021 World Competitiveness Classification.

As part of the document, prepared by the Institute for Management Development (IMD, for its acronym in English), based in Switzerland, the 15 indicators are ranked in which the country had its greatest improvements and its main decreases, in both cases versus 2020 ranking.

Competitiveness of Peru

Thus, evolution is determined by the largest percentage changes in the value of each criterion from one yearbook to the next.

In descending order, the improvements in Peru’s Competitiveness were as follows:

• Current account balance.
• Banking sector assets.
• Patent applications per capita.
• Pollution problems.
• Economic complexity index.
• Knowledge transfer.
• Unemployment rate – gender ratio.
• Consumer price inflation.
• Internet users.
• Gasoline prices.
• Working hours.
• Number of patents in force.
• Unemployment legislation.
• Entrepreneurship.
• Cyber security.

While the falls were in:

• Real GDP growth per capita.
• Gross fixed capital formation – real growth.
• Labor force long-term growth
• Real GDP growth
• Government budget surplus/deficit
• Employment – long-term growth
• Exchange rate stability
• Exports of commercial services
• Exports of commercial services
• Risk of political instability
• Bribery and corruption
• University education index
• Transparency
• Adaptability of government policy
• Total general government debt

Among the challenges of Peru, according to the IMD are:

• Reactivate the economy by increasing productivity and competitiveness.
• Strengthen the health system
• Reduce extreme poverty and increase quality employment.
• Promote an efficient and decentralized educational system.
• Develop more efficient and effective public management.

With data from 2020, Peru had a population of 32.82 million people and a GDP of 203.8 billion dollars.

While its product exports were 38.757 million dollars, its imports totaled 36.064 million dollars in 2020.