Services Sector Contribution to GDP in Peru (1990-2022)

Services Sector Contribution to GDP in Peru (1990-2022)

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TGM StatBox. (2024). Services Sector Contribution to GDP in Peru (1990-2022). TGM StatBox.
Chart Details
Timeframe: 1990-2022
Country: Peru
Published date: 2024
Note: Services (% of GDP), according to World Development Indicators, measures the contribution of the services sector (such as retail, finance, healthcare, and tourism) to a country's GDP.
Key Takeaways
Peru’s services sector showed varied contribution levels, starting from 58.4% in 1991 but experiencing a significant drop to 47.3% by 2007. This decrease reflects economic reforms favoring mining and agriculture over services. However, a resurgence in 2009, reaching 50.7%, indicates economic diversification and tourism recovery. From 2015 onward, the services sector's contribution gradually increased, stabilizing around 54% pre-pandemic. The sector faced challenges due to COVID-19, dropping to 49.4% in 2021, though a slight recovery to 49.5% in 2022 reflects government efforts to revitalize service industries amid a slow recovery.

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