Real GDP per capita in Peru has risen by 103% in twenty-five years outperforming the 52% increase in living standards in South America and the rise of 45% in Emerging Markets. The rise in Peruvian GDP per capita pulled away from the two benchmarks in 2007 and was propelled by economic growth rising faster than GDP growth across South America. The country has experienced a cumulative ten-year annual average of 3.1% which has dropped to a three-year average of 0.9%.

Peru’s living standards have improved despite the perception of levels of corruption in line with the South American average. The World Economics Governance Index rates Peru at 48.4 slightly better than the South American average, just below Brazil at 49.0, but far below successful economies such as Chile at 75.6 and Uruguay at 79.3. This is an important influence and the Financial Times has commented that in the light of recent political instability Peru “is becoming ungovernable” despite its past economic success.

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