Country explorer: Peru

Peru has experienced notable economic growth and poverty reduction, marked by a consistent decrease in unemployment rates and moderate inflation, positioning it as a standout example of economic stability and improvement among upper-middle-income countries in South America.

Peru has experienced modest population growth, a significant fluctuation in net migration with a notable influx in recent years, a decreasing fertility rate approaching replacement level, and a steadily increasing life expectancy, indicating improved health outcomes and societal shifts typical of a developing nation on the trajectory towards being more aligned with upper-middle-income countries in terms of demographic trends.

Peru has experienced significant improvements in basic needs, with notable advancements in access to electricity and safely managed drinking water, although its progress in safely managed sanitation facilities lags behind its regional peers.

Peru has demonstrated significant progress in human development, as evidenced by improvements in the Human Development Index, decreases in child mortality rates, increases in literacy rates, and advancements in learning-adjusted years of schooling, aligning with trends observed in upper-middle-income countries.

Over the past two decades in Peru, the significant expansion in renewable energy sources, particularly in solar and wind, reflects a progressive shift towards greener energy amidst fluctuating CO₂ emissions and decreasing renewable freshwater resources, while maintaining a relatively stable forest area, illustrating a nuanced approach to managing environmental and energy challenges.

Peru has demonstrated a notable increase in technology adoption and innovation, characterized by a substantial rise in internet usage and mobile subscriptions, a modest growth in research & development spending, and a significant uptick in scientific publications, mirroring broader trends observed across upper-middle-income countries.

Peru has undergone significant societal transformations reflected in an increased share of foreign-born residents, enhanced self-reported life satisfaction, a notable decrease in gender inequality, and a stable age dependency ratio, highlighting a convergence towards the trends observed in upper-middle-income countries, while also showcasing its unique cultural resilience and adaptability within the Latin American context.

Peru has seen fluctuations in governance indicators—improving in rule compliance and bureaucracy impartiality, but facing challenges in reducing corruption perceptions, ensuring political civil liberties, and safeguarding press freedom—mirroring broader regional struggles with corruption, political stability, and media freedom.