Peru tax revenue as share of GDP reaches 7-year high in 2021

1 min read

LIMA – Peru reported on Thursday that its tax revenue as a share of gross domestic product reached 16.1% in 2021, the highest level in seven years, driven by a strong economic recovery and higher proceeds from exports – mainly copper.

Peru’s tax authority SUNAT said in a statement that the country’s tax revenue totaled 139.952 million soles ($35.44 million) in 2021, up 44.4% from 2020 and 19.2% from 2019, exceeding expectations.

SUNAT’s head Luis Enrique Vera said the figures came on the back of a 13.2% economic growth last year, according to the central bank’s projections, and were also boosted by rising intern demand and higher global metal prices.

Peru is the world’s second-largest copper producer.

($1 = 3.9492 soles)

(Reporting by Marco Aquino; Writing by Gabriel Araujo)

Breaking News
Australia central bank sees need to normalise policy in inflation fight