GDP per Capita · Data & Comparison
Peru GDP per Capita
Peru's GDP per capita: how has income per person evolved from hyperinflation to 2024?
Peru's GDP per capita in 2024 was USD 8,550.96 at current prices, while its PPP-adjusted GDP per capita stood at USD 17,992.26. The nominal figure places Peru in the lower-middle-income bracket, but the PPP measure, which accounts for lower domestic price levels, is more than double the nominal value. This gap reflects the difference between market exchange rates and purchasing power parities, and it matters for comparing living standards across countries. Over the past four decades, nominal GDP per capita has risen from USD 1,097.69 in 1980 to the 2024 level, a 7.8-fold increase. The PPP series shows a smaller but still substantial rise, from USD 2,988.10 in 1980 to USD 17,992.26 in 2024. These long-run gains were punctuated by severe instability in the 1980s, when GDP per capita fell to a low of USD 809.29, and by a commodity-driven boom in the 2000s. The following sections examine the current figures, the long-run trajectory, the structural drivers behind Peru's income per person, and how the country compares with peers, including what GDP per capita does not capture.
What is GDP per capita (nominal)?
GDP per capita is a country's GDP divided by its midyear population. It is the most common shorthand for average income or output per person.
How it is measured. Nominal GDP in current US dollars divided by midyear population. Because it uses market exchange rates, it ignores price-level differences between countries and says nothing about how income is distributed.
How to read it. Use it to compare average economic output per person. A high value can reflect high productivity or a small population with large resource or financial income, and it is not the same as median household income.
Source: World Bank WDI. See our methodology.
Current GDP per Capita: Nominal vs PPP
Latest Nominal and PPP Estimates
Peru's GDP per capita stood at USD 8,550.96 in 2024 on a nominal basis, up from USD 6,284.71 in 2020. The purchasing power parity (PPP) measure for the same year is USD 17,992.26, roughly 2.1 times the nominal figure. Both series cover 2024 and are expressed in current international dollars for the PPP variant. The gap between them reflects differences in domestic price levels rather than differences in output volume.
The nominal series has risen from USD 1,097.69 in 1980 to the 2024 level, a cumulative increase across 45 annual observations. Over the same span, the PPP series moved from USD 2,988.10 in 1980 to USD 17,992.26. The PPP series begins at a higher base because it converts output at price levels closer to those prevailing in Peru rather than at market exchange rates.
What Separates the Two Measures
Nominal GDP per capita divides current-price output by population and converts at market exchange rates. PPP GDP per capita adjusts for the relative cost of goods and services, so a given basket of consumption is priced at local levels. In 2024 the nominal figure of USD 8,550.96 sits below the PPP figure of USD 17,992.26, implying that domestic prices are lower than the reference basket used in the PPP conversion. The ratio of about 2.1 indicates that the same income buys roughly twice as much locally as the market-rate conversion implies.
Both measures track the same underlying output but diverge in level and, to a lesser degree, in trajectory. The nominal series grew 36.1 per cent between 2020 and 2024, from USD 6,284.71 to USD 8,550.96. The PPP series grew 39.8 per cent over the same period, from USD 12,874.52 to USD 17,992.26. The PPP growth rate is slightly higher, reflecting movements in the conversion factors as well as real output growth.
Why Both Measures Matter
Nominal GDP per capita is the relevant figure for cross-border comparisons of income, debt service capacity and dollar-denominated transactions. At USD 8,550.96 in 2024, it places Peru in the lower-middle income range on standard thresholds. GNI per capita, a related nominal measure, stood at USD 7,500.00 in 2024, below GDP per capita because of net factor income flows. The 2024 GDP growth rate of 3.30 per cent supported the rise in both series.
PPP GDP per capita is the better guide to domestic living standards and real consumption capacity. At USD 17,992.26 in 2024, it captures what an average resident can actually purchase within Peru. The 2020 contraction, when GDP fell 10.94 per cent, illustrates the distinction: nominal GDP per capita fell to USD 6,284.71 while the PPP measure fell to USD 12,874.52, and both recovered by 2024. Analysts comparing welfare across countries use the PPP figure; analysts assessing external balances use the nominal one.
Reading the Two Series Together
- Nominal 2024: USD 8,550.96; PPP 2024: USD 17,992.26; ratio approximately 2.1.
- Nominal growth 2020 to 2024: 36.1 per cent; PPP growth: 39.8 per cent.
- GNI per capita 2024: USD 7,500.00, below nominal GDP per capita.
- GDP growth 2024: 3.30 per cent, following a 10.94 per cent contraction in 2020.
Neither series alone describes income per person fully. The nominal figure anchors Peru in international dollar terms; the PPP figure anchors it in domestic purchasing terms. Used together, they show an economy whose output per head has more than doubled in PPP terms since 1980 while remaining below USD 9,000 on market exchange rates in 2024.
Peru GDP per Capita: Nominal and PPP, Selected Years
| Year | Nominal GDP per Capita (USD) | PPP GDP per Capita (USD) | PPP/Nominal Ratio |
|---|---|---|---|
| 1980 | 1,097.69 | 2,988.10 | 2.72 |
| 1990 | 1,242.67 | 3,310.64 | 2.66 |
| 2000 | 1,927.89 | 4,949.59 | 2.57 |
| 2010 | 5,137.46 | 9,619.62 | 1.87 |
| 2024 | 8,550.96 | 17,992.26 | 2.10 |
The Long Arc: Peru's GDP per Capita by Decade since 1980
Peru's GDP per capita rose from USD 1,097.7 in 1980 to USD 8,551.0 in 2024, a roughly 7.8-fold increase in current dollar terms. The path was uneven. The 1980s closed at USD 1,465.1, a gain of 33.5 per cent over the decade but well below the period maximum of USD 1,904.1. The 1990s averaged USD 1,828.9 and ended at USD 1,894.7. The strongest expansion came in the 2000s, when the indicator climbed 119.7 per cent from USD 1,927.9 to USD 4,235.8.
The 1980s: Stagnation and Hyperinflation
The 1980s were the weakest decade in the series. GDP per capita fell to a low of USD 809.3 before recovering to USD 1,465.1 by 1989. Real output contracted sharply at the end of the period, with GDP growth of -12.9 per cent recorded in 1989. GNI per capita declined 11.7 per cent across the decade, from USD 1,030 to USD 910, and averaged USD 1,007. External debt constraints and hyperinflation suppressed both income levels and purchasing power. The 1980s mean of USD 1,205.8 was the lowest of any decade in the dataset.
The 1990s and 2000s: Stabilisation and Boom
The 1990s brought stabilisation. GDP per capita rose 52.5 per cent over the decade, from USD 1,242.7 to USD 1,894.7, and GNI per capita jumped 141.7 per cent to USD 2,030. The 2000s delivered the largest percentage gain: GDP per capita grew 119.7 per cent, reaching USD 4,235.8, while the decade mean was USD 2,829.1. GNI per capita more than doubled, rising 101.5 per cent to USD 3,950. GDP growth averaged 5.0 per cent per year across the 2000s, supported by high commodity prices and expanded export volumes.
The 2010s and 2020s: Slower Growth and Recovery
The 2010s extended the expansion at a slower pace. GDP per capita rose 40.1 per cent, from USD 5,137.5 to USD 7,197.4, with a decade mean of USD 6,518.7. Average GDP growth eased to 4.5 per cent. The 2020s opened with a contraction: GDP per capita fell to USD 6,284.7 in 2020 as GDP shrank 10.9 per cent. Recovery followed, and the indicator reached USD 8,551.0 in 2024, a 36.1 per cent gain over the partial decade. GNI per capita rose 23.4 per cent to USD 7,500 over the same period.
PPP Adjustment and Income Gap
On a purchasing power parity basis, GDP per capita reached USD 17,992.3 in 2024, more than double the current dollar figure of USD 8,551.0. The PPP series shows the same decade pattern: a 12.9 per cent gain in the 1980s, 78.5 per cent in the 2000s and 39.8 per cent across 2020 to 2024. GNI per capita of USD 7,500 in 2024 sits below GDP per capita, a gap of about USD 1,051 that reflects net income flows abroad.
- 1980s: GDP per capita up 33.5 per cent, GNI per capita down 11.7 per cent.
- 2000s: GDP per capita up 119.7 per cent, the largest decade gain.
- 2020s: GDP per capita up 36.1 per cent to USD 8,551.0 by 2024.
Peru GDP per Capita by Decade: First, Last, and Mean Values (Nominal USD)
| Decade | First Year Value | Last Year Value | Mean | Growth (%) |
|---|---|---|---|---|
| 1980s | 1,097.69 | 1,465.10 | 1,205.77 | 33.5 |
| 1990s | 1,242.67 | 1,894.66 | 1,828.90 | 52.5 |
| 2000s | 1,927.89 | 4,235.82 | 2,829.10 | 119.7 |
| 2010s | 5,137.46 | 7,197.40 | 6,518.71 | 40.1 |
| 2020s | 6,284.71 | 8,550.96 | 7,418.21 | 36.1 |
What Drives Peru's Income per Person
Commodity Cycles and the Export Base
Peru's income per person tracks the commodity cycle with unusual fidelity. GDP per capita rose from USD 1,927.9 in 2000 to USD 4,235.8 in 2009, a decade gain of 119.7 per cent, coinciding with the copper and gold price boom. The 2010s added a further 40.1 per cent, from USD 5,137.5 to USD 7,197.4. Mining and hydrocarbon exports supply the bulk of foreign exchange, so swings in metal prices transmit directly to wages, tax receipts and the current account.
Macroeconomic History and the 1980s Break
The 1980s illustrate the cost of policy failure. GDP per capita fell to a low of USD 809.3 within the decade, and GNI per capita contracted by 11.7 per cent between 1980 and 1989, from USD 1,030 to USD 910. Hyperinflation and the 1989 growth collapse of -12.9 per cent erased real incomes. The stabilisation of the 1990s reversed the trajectory: GNI per capita grew 141.7 per cent over the decade, reaching USD 2,030 by 1999, and GDP per capita rose 52.5 per cent.
Informality and Labour Productivity
A large informal sector limits the translation of aggregate growth into household income. Roughly seven in ten Peruvian workers operate outside formal contracts, which suppresses productivity gains and tax collection. The gap between GDP per capita of USD 8,551.0 and GNI per capita of USD 7,500.0 in 2024 is modest, but the wider distance to purchasing-power parity of USD 17,992.3 reflects lower domestic price levels rather than higher real output. Formalisation remains the binding constraint on per-worker output in services and small manufacturing.
Demographic and Labour Market Pressures
Peru's working-age population has grown faster than formal job creation, holding down wage growth. GDP per capita in the 2020s recovered from USD 6,284.7 in 2020 to USD 8,551.0 in 2024, a 36.1 per cent rebound after the pandemic contraction of -10.9 per cent in 2020. Growth averaged 1.6 per cent across the 2020s, well below the 5.0 per cent mean of the 2000s, so the per-capita gain has leaned on the rebound rather than sustained expansion.
Structural Composition
- Mining and metals: the dominant export earner and the main channel for commodity price transmission.
- Informal services and retail: the largest employer, with low measured productivity.
- Agriculture: a small share of GDP but a large share of employment in the highlands.
- Fiscal dependence: mineral royalties and income tax link public spending to the cycle.
These features explain why GDP per capita of USD 8,551.0 in 2024 remains below the USD 17,992.3 PPP measure and why decade-to-decade gains have narrowed from 119.7 per cent in the 2000s to 36.1 per cent in the 2020s.
Peru's GDP per Capita in Context: Peers, GNI, and Distribution
Regional Benchmarks
Peru's GDP per capita reached USD 8,550.96 in 2024, up from USD 7,197.40 in 2019 and USD 6,284.71 in 2020. On a purchasing power parity basis the figure is USD 17,992.26, a measure that adjusts for domestic price levels and places Peru closer to middle-income peers in Latin America. The gap between the two series, roughly USD 9,441 in 2024, reflects lower relative prices for non-traded goods and services. Both measures remain below the regional averages of the larger Latin American economies, though Peru has narrowed the distance since 2000, when GDP per capita stood at USD 1,927.89.
GNI per Capita as an Alternative
Gross national income per capita was USD 7,500.00 in 2024, about USD 1,051 below GDP per capita. The wedge captures net income flows abroad, including profit remittances by foreign-owned mining and energy firms, which are significant in Peru's export structure. GNI per capita rose from USD 6,080.00 in 2020, a 23.4 per cent increase across five years, slower than the 36.1 per cent rise in GDP per capita over the same period. In the 1980s GNI per capita actually fell 11.7 per cent, ending the decade at USD 910.00, while GDP per capita rose 33.5 per cent, a divergence driven by external debt service and capital flight.
What GDP per Capita Omits
GDP per capita is an average and says nothing about how income is distributed. Peru's informal sector employs a large share of the labour force, and regional inequality between coastal Lima and the Andean interior is pronounced. The measure also excludes household production, environmental depletion from mining and fishing, and the quality of public services financed by growth. A 3.3 per cent GDP growth rate in 2024, against a 2020 contraction of 10.9 per cent, shows how sharply output can swing without equivalent movement in household welfare.
Reading the Series Together
- GDP per capita: USD 8,550.96 (2024), USD 1,097.69 (1980).
- GDP per capita PPP: USD 17,992.26 (2024), USD 2,988.10 (1980).
- GNI per capita: USD 7,500.00 (2024), USD 1,030.00 (1980).
- GDP growth: 3.30 per cent (2024), -10.94 per cent (2020).
Across four decades the three income measures have moved broadly together, from roughly USD 1,000 in 1980 to between USD 7,500 and USD 18,000 in 2024 depending on the basis used. The 2000s delivered the strongest expansion, with GDP per capita up 119.7 per cent and PPP up 78.5 per cent, driven by the commodity boom. Comparisons with peers should state which basis is used, since the choice changes Peru's apparent position by a factor of more than two.
Peru GNI per Capita by Decade (USD)
| Decade | First Year Value | Last Year Value | Mean | Growth (%) |
|---|---|---|---|---|
| 1980s | 1,030.00 | 910.00 | 1,007.00 | -11.7 |
| 1990s | 840.00 | 2,030.00 | 1,734.00 | 141.7 |
| 2000s | 1,960.00 | 3,950.00 | 2,634.00 | 101.5 |
| 2010s | 4,400.00 | 6,850.00 | 5,998.00 | 55.7 |
| 2020s | 6,080.00 | 7,500.00 | 6,826.00 | 23.4 |
Frequently asked questions
What is Peru's GDP per capita in current US dollars?
Peru's GDP per capita was about USD 7,900 in 2023, up from roughly USD 7,100 in 2022, according to World Bank and IMF estimates. The figure is measured in current US dollars and therefore moves with both real output and the exchange rate. Peru's currency, the sol, was relatively stable over this period, so most of the increase reflects nominal growth and post-pandemic recovery. For comparison, the regional average for Latin America and the Caribbean was around USD 10,300 in 2023. Peru sits below that average, reflecting a long-standing income gap with larger regional economies such as Chile and Brazil.
How has Peru's GDP per capita changed over the past two decades?
Peru's GDP per capita rose from about USD 2,100 in 2003 to roughly USD 7,900 in 2023, a more than threefold increase in current dollar terms. Most of the gain came during the commodity boom of 2003 to 2013, when annual real GDP growth averaged above 6 per cent and poverty fell sharply. Growth slowed to around 2 to 3 per cent in the following decade, with a sharp contraction of 11 per cent in 2020 during the pandemic. By 2023, real GDP per capita had only just recovered to its 2019 level, meaning the past five years delivered essentially no net income gain per person.
What is Peru's GDP per capita adjusted for purchasing power parity?
In purchasing power parity terms, Peru's GDP per capita was approximately USD 16,000 in 2023, roughly double the current dollar figure. The PPP measure adjusts for lower domestic prices, particularly for non-traded services, and gives a better sense of living standards. Peru's PPP figure remains below the Latin American average of around USD 20,000 and well below Chile's roughly USD 30,000. The gap between the market and PPP estimates, about USD 8,000, is larger than in advanced economies, which reflects the relatively low price level in Peru and the weight of informal and subsistence activity in the domestic economy.
Which regions of Peru have the highest GDP per capita?
Peru's income is unevenly distributed geographically. The Lima and Callao region accounts for roughly 45 per cent of national GDP while holding about a third of the population, giving it a GDP per capita well above the national average of USD 7,900. Mining regions such as Moquegua and Arequipa also record high output per person, driven by copper extraction, though much of that income does not stay local. By contrast, rural highland departments such as Huancavelica and Apurímac report GDP per capita at or below half the national figure, one of the widest regional spreads in South America.
Is Peru's GDP per capita growing or stagnating?
Peru's GDP per capita has stagnated in real terms since 2019. Real output per person fell by about 11 per cent in 2020 and recovered only gradually, reaching roughly its pre-pandemic level by 2023. Growth of around 3 per cent in 2024 was close to the rate of population increase, leaving little gain per head. The IMF projects medium-term growth near 2.5 to 3 per cent, which implies slow per capita improvement. Political instability, with six presidents in less than a decade, and weak private investment have weighed on the trend, alongside declining ore grades in key copper mines.
How does Peru's GDP per capita compare with other South American countries?
Peru's GDP per capita of about USD 7,900 in 2023 places it in the lower-middle group within South America. It is below Chile at roughly USD 17,000, Uruguay at about USD 22,000 and Brazil at around USD 10,000, but above Bolivia at roughly USD 3,700 and Venezuela, whose official figures are unreliable. In PPP terms the ranking is similar, with Peru near USD 16,000 against Chile's roughly USD 30,000. Peru's position reflects steady but modest growth and a large informal sector, which employs around 70 per cent of workers and limits measured productivity per person.