Peru is a developing country, situated in western part of South America encircled by Ecuador, Colombia, Brazil, Bolivia and Chile.The economy of Peru is largely dependent on agriculture, fishing, mining, and manufacturing of products like textiles.
Economy of Peru
Since 1990, the Peruvian economy is gradually proceeding towards considerable free market reforms, from legitimatizing an appreciable porting of informal sectors to privatization of mining, electricity and telecommunications industries.
The Peruvian Government is designing some effective plans and strategies to attract both foreign and domestic investments in almost all sectors of the economy.Major industries in Peru include mining of metals, petroleum, oil refinery, food processing, fishing, textiles, vegetables, cement, auto assembly, steel, shipbuilding, and metal fabrication industry.
Peruvian agriculture is primarily based on products like coffee, cotton, rice, wheat, sugarcane, potatoes, plantains, and coca.
Major exports in Peru include fish products, minerals (like copper, gold, molibdenum, zinc, iron), crude petroleum, lead, coffee, sugar, cotton, textiles, chemicals, pharmaceuticals, and manufactures. Peru imports commodities like food crops, iron and steel, chemicals, pharmaceuticals and electronics.
Peru’s leading trading partners are US, Colombia, Venezuela, Chile, and Brazil.
In 2006, GDP (Gross Domestic Product) growth in Peru was 6.5%.
GDP by sector:
Currency in Peru:
Nuevo Sol (PEN)
Currency exchange rate:
1 US Dollar is equal to 3.18104 Peruvian Nuevo Sol and 1 Peruvian Nuevo Sol (PEN) is equal to 0.31436 US Dollar (USD) as on Wednesday, September 19, 2007.
|Year||GDP %||Inflation %||Year||GDP %||Inflation %|
Source: World Bank
|Argentina Economy||Guyana Economy|
|Chile Economy||Peru Economy|
|Venezuela Economy||Brazil Economy|
Click here for more information about Peru
|Last Updated on : 16th March 2015||Next Update : February 2016|