Key Facts About
Pakistan
Urdu (national), English (official), Punjabi (most-spoken local)
242M (+1.9% yearly) – world’s #5 most populous
State religion: Islam (96% Muslim, Sunni majority)
54% under 25 → median age 22.8.Young workforce fuels consumption potential
Urbanization: 36% urbanized
Growth: $1,537 GDP/capita (2022) – mid-range in South Asia.Slow 1.5% GDP growth (2023).Pillars: Agriculture (19% GDP), textiles, manufacturing
Trade: China’s #1 partner ($27.8B trade in 2023).Top exports: textiles, apparel, farm goods.Imports from China: machinery, electronics, chemicals
Survey of consumption
The fintech market in Peru has great potential, especially when it comes to partnering with traditional banks and promoting financial education. Cooperation can expand the coverage of financial services and provide financial opportunities to more groups.
21%
Bank user penetration rate
3%
Credit card penetration rate
14%
Household debt ratio
Method of payment
Offline - Cash transactions:
The monetary unit is the Peruvian Nuevo Sol (PEN), and about 60% of offline transactions in 2023 will rely on cash, with the rest paid for by debit and credit cards.
Online - Credit card/digital wallet:
Credit cards account for about 30 per cent of online payments, while bank transfers account for 25 per cent and the adoption of digital wallets has risen, accounting for 20 per cent. Other payment methods, such as cash followed by door-to-door delivery, accounted for about 25%.
