Peru

Peru's Military Spending Holds at 0.8% of GDP Amid Moderate Debt Load

Peru, classified here within the America region, combines a light government-debt load and a comparatively light military budget with substantial foreign exchange reserves, per the figures assembled below.

Economy and Fiscal Position Peru's economy was valued at $289.2 billion in 2024, per World Bank WDI figures, with GDP per capita of $8,452 and a population of 34.2 million. The IMF's 2026 World Economic Outlook puts government debt at 30.0 percent of GDP. Foreign exchange reserves stood at $84.7 billion in 2025, per IMF IFS — a figure close to a third of the GDP recorded above for 2024, though the two figures are drawn from different years and sources and are not directly comparable.

Defense Spending and Capability SIPRI's 2025 figures put Peruvian military expenditure at $2.6 billion, equivalent to 0.812 percent of GDP under SIPRI's own GDP series; this ratio should not be recomputed against the World Bank GDP figure above, which uses a different denominator. Active personnel numbered 81,000 as of 2022, per COW NMC — a small share of the 34.2 million population recorded above for 2024 — and the same source assigns a CINC score of 0.002791811 for that year, a composite measure drawn from demographic, industrial and military inputs rather than spending alone. No nuclear-warhead figure appears in this dataset.

Governance V-Dem's 2025 figures score Peru's electoral democracy index at 0.667 and liberal democracy index at 0.506, both on a 0-1 scale. State capacity is scored at 0.592.

Energy Primary energy consumption was 1.3478 exajoules in 2024, per Our World in Data, and electricity generation reached 60.44 TWh in 2025. Oil production was 60.667 TWh and gas production 159.605 TWh, both for 2024.

Sources: World Bank WDI, IMF WEO, IMF IFS, SIPRI Milex, COW NMC, V-Dem v15, Our World in Data (Energy)