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Peru (continued) 

Economy

Overview: The economy is verging on hyperinflation and economic activity is contracting rapidly. Deficit spending is at the root of domestic economic problems, but poor relations with international lenders the result of curtailing debt payments since 1985 are preventing an inflow of funds to generate a recovery. Reduced standards of living have increased labor tensions, and strikes, particularly in the key mining sector, have cut production and exports. Foreign exchange shortages have forced reductions in vital consumer imports such as food and industrial inputs. Peru is the world's leading producer of coca, from which the drug cocaine is produced.

GDP: S18.9 billion, per capita $880; real growth rate -12.2% (1989 est.)

Inflation rate (consumer prices): 2,775% (1989)

Unemployment rate: 15.0%; underemployment estimated at 60% (1989)

Budget: revenues $3.2 billion; expenditures $3.7 billion, including capital expenditures of $796 million (1986)

Exports: $3.55 billion (f.o.b., 1989); commodities—fishmeal, cotton, sugar, coffee, copper, iron ore, refined silver, lead, zinc, crude petroleum and byproducts; partners—EC 22%, US 20%, Japan 11%, Latin America 8%, USSR 4%

Imports: $2.50 billion (f.o.b., 1989); commodities—foodstuffs, machinery, transport equipment, iron and steel semimanufactures, chemicals, pharmaceuticals; partners—US 23%, Latin America 16%, EC 12%, Japan 7%, Switzerland 3%

External debt: $17.7 billion (December 1989)

Industrial production: growth rate -25.0% (1988 est.)

Electricity: 4,867,000 kW capacity; 15,540 million kWh produced, 725 kWh per capita (1989)

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

Agriculture: accounts for 12% of GDP, 37% of labor force; commercial crops—coffee, cotton, sugarcane; other crops—rice, wheat, potatoes, plantains, coca; animal products—poultry, red meats, dairy, wool; not self-sufficient in grain or vegetable oil; fish catch of 4.6 million metric tons (1987), world's fifth-largest

Illicit drugs: world's largest coca producer and source of supply for coca paste and cocaine base; about 85% of cultivation is for illicit production; most of coca base is shipped to Colombian drug dealers for processing into cocaine for the international drug market

Aid: US commitments, including Ex-Im (FY70-88), $1.6 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $3.7 billion; Communist countries (1970-88), $577 million

Currency: inti (plural—intis); 1 inti (I/) = 1,000 soles

Exchange rates: intis (I/) per US$1—5,261.40 (December 1989), 128.83 (1988), 16.84 (1987), 13.95 (1986), 10.97 (1985)

Fiscal year: calendar year

Communications

Railroads: 1,876 km total; 1,576 km 1.435-meter standard gauge, 300 km 0.914-meter gauge

Highways: 56,645 km total; 6,030 km paved, 11,865 km gravel, 14,610 km improved earth, 24,140 km unimproved earth

Inland waterways: 8,600 km of navigable tributaries of Amazon system and 208 km Lago Titicaca

Pipelines: crude oil, 800 km; natural gas and natural gas liquids, 64 km

Ports: Callao, Ilo, Iquitos, Matarani, Talara

Merchant marine: 32 ships (1,000 GRT or over) totaling 341,213 GRT/535,215 DWT; includes 18 cargo, 1 refrigerated cargo, 1 roll-on/roll-off cargo, 3 petroleum, oils, and lubricants (POL) tanker, 1 chemical tanker, 8 bulk; note in addition, 7 naval tankers and 1 naval cargo are sometimes used commercially

Civil air: 27 major transport aircraft

Airports: 242 total, 226 usable; 35 with permanent-surface runways; 2 with runways over 3,659 m; 24 with runways 2,440-3,659 m; 39 with runways 1,220-2,439 m

Telecommunications: fairly adequate for most requirements; nationwide radio relay system; 544,000 telephones; stations—273 AM, no FM, 140 TV, 144 shortwave; 2 Atlantic Ocean INTELSAT earth stations, 12 domestic antennas

Defense Forces

Branches: Peruvian Army (Ejercito Peruano), Peruvian Navy (Marina de Guerra del Peru), Peruvian Air Force (Fuerza Aerea del Peru)

Military manpower: males 15-49, 5,543,166; 3,751,077 fit for military service; 236,814 reach military age (20) annually

Defense expenditures: 4.9% of GNP (1987)  Philippines



Geography

Total area: 300,000 km²; land area: 298,170 km²

Comparative area: slightly larger than Arizona

Land boundaries: none

Coastline: 36,289 km

Maritime claims: (measured from claimed archipelagic baselines)
 * Continental shelf: to depth of exploitation
 * Extended economic zone: 200 nm
 * Territorial sea: irregular polygon extending up to 100 nm from coastline as defined by 1898 treaty; since late 1970s has also claimed polygonal-shaped area in South China Sea up to 285 nm in breadth

Disputes: involved in a complex dispute over the Spratly Islands with China, Malaysia, Taiwan, and Vietnam; claims Malaysian state of Sabah

Climate: tropical marine; northeast monsoon (November to April); southwest monsoon (May to October)

Terrain: mostly mountains with narrow to extensive coastal lowlands

Natural resources: timber, crude oil, nickel, cobalt, silver, gold, salt, copper

Land use: 26% arable land; 11% permanent crops; 4% meadows and pastures; 40% forest and woodland; 19% other; includes 5% irrigated

Environment: astride typhoon belt, usually affected by 15 and struck by five to six cyclonic storms per year; subject to landslides, active volcanoes, destructive earthquakes, tsunami; deforestation; soil erosion; water pollution

People

Population: 66,117,284 (July 1990), growth rate 2.5% (1990)

Birth rate: 32 births/1,000 population (1990)  250