ccount deficit and meet its IMF targets.
Growth then rebounded to 7.3% in 1997 even as inflation fell to its
lowest level in 23 years. Capital inflows surged to record levels in
early 1997 and have remained strong despite economic shocks stemming
from the Asian financial crisis and the El Nino weather events.

GDP: purchasing power parity-$110.2 billion (1997 est.)

GDP-real growth rate: 7.3% (1997 est.)

GDP-per capita: purchasing power parity-$4,420 (1997 est.)

GDP-composition by sector:
agriculture: 14%
industry: 41%
services: 45% (1996)

Inflation rate-consumer price index: 6.7% (1997 est.)

Labor force:
total: 7.6 million (1996 est.)
by occupation: agriculture, mining and quarrying, manufacturing,
construction, transport, services

Unemployment rate: 8.2%; extensive underemployment (1996)

Budget:
revenues: $8.5 billion
expenditures: $9.3 billion, including capital expenditures of $2
billion (1996 est.)

Industries: mining of metals, petroleum, fishing, textiles, clothing,
food processing, cement, auto assembly, steel, shipbuilding, metal
fabrication

Industrial production growth rate: 1.2% (1996)

Electricity-capacity: 4.187 million kW (1995)

Electricity-production: 15.6 billion kWh (1995)

Electricity-consumption per capita: 648 kWh (1995)

Agriculture-products: coffee, cotton, sugarcane, rice, wheat,
potatoes, plantains, coca; poultry, red meats, dairy products, wool;
fish catch of 6.9 million metric tons (1990)

Exports:
total value: $5.9 billion (f.o.b., 1996)
commodities: copper, zinc, fishmeal, crude petroleum and byproducts,
lead, refined silver, coffee, cotton
partners: US 20%, Japan 7%, UK 7%, China 7%, Germany 5% (1996)

Imports:
total value: $9.2 billion (f.o.b., 1996)
commodities: machinery, transport equipment, foodstuffs, petroleum,
iron and steel, chemicals, pharmaceuticals
partners: US 31%, Colombia 7%, Chile 6%, Venezuela 6%, UK 6% (1996)

Debt-external: $25.7 billion (1996 est.)

Economic aid:
recipient: ODA, $363 million (1993)

Currency: 1 nuevo sol (S/.) = 100 centimos

Exchange rates: nuevo sol (S/.) per US$1-2.750 (January 1998), 2.664
(1997), 2.453 (1996), 2.253 (1995), 2.195 (1994), 1.988 (1993)

Fiscal year: calendar year

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