Peru/

Peru’s economy reflects its varied geography - an arid coastal region, the Andes further inland, and tropical lands bordering Colombia and Brazil. Abundant mineral resources are found in the mountainous areas, and Peru’s coastal waters provide excellent fishing grounds. The Peruvian economy grew by more than 4% per year during the period 2002-06, with a stable exchange rate and low inflation. Growth jumped to 9% per year in 2007 and 2008, driven by higher world prices for minerals and metals and the government’s aggressive trade liberalization strategies, but then fell to less than 1% in 2009 in the face of the world recession and lower commodity export prices. Growth resumed in 2010 at nearly 8%, due partly to increased exports. Peru’s rapid expansion has helped to reduce the national poverty rate by about 15% since 2002, though underemployment remains high; inflation has trended downward in 2009, to below the Central Bank’s 1-3% target. Despite Peru’s strong macroeconomic performance, overdependence on minerals and metals subjects the economy to fluctuations in world prices, and poor infrastructure precludes the spread of growth to Peru’s non-coastal areas. Not all Peruvians therefore have shared in the benefits of growth and despite President GARCIA’s pursuit of sound trade and macroeconomic policies, persistent inequality has cost him political support. Nevertheless, he remains committed to Peru’s free-trade path. Since 2006, Peru has signed trade deals with the United States, Canada, Singapore, and China, concluded negotiations with the European Union, and begun trade talks with Korea, Japan, and others. The US-Peru Trade Promotion Agreement (PTPA) entered into force 1 February 2009, opening the way to greater trade and investment between the two economies.

$274.7 billion (2010 est.)

$254.8 billion (2009 est.)

$252.5 billion (2008 est.)

$153.5 billion (2010 est.)

7.8% (2010 est.)

0.9% (2009 est.)

9.8% (2008 est.)

$9,200 (2010 est.)

$8,600 (2009 est.)

$8,700 (2008 est.)

10.58 million (2010 est.)

6.7% (2010 est.)

8.1% (2009 est.)

34.8% (2009)

49.6 (2009)

46.2 (1996)

25.1% of GDP (2010 est.)

23.6% of GDP (2010 est.)

25% of GDP (2009 est.)

1.8% (2010 est.)

2.9% (2009 est.)

1.7% (31 December 2010 est.)

7.25% (31 December 2008)

21.04% (31 December 2009 est.)

23.67% (31 December 2008 est.)

$20.53 billion (31 December 2010 est)

$16.77 billion (31 December 2009 est)

$55.2 billion (31 December 2010 est.)

$43.57 billion (31 December 2009 est.)

$28.9 billion (31 December 2010 est.)

$23.37 billion (31 December 2009 est.)

$69.75 billion (31 December 2009)

$55.63 billion (31 December 2008)

$106 billion (31 December 2007)

asparagus, coffee, cocoa, cotton, sugarcane, rice, potatoes, corn, plantains, grapes, oranges, pineapples, guavas, bananas, apples, lemons, pears, coca, tomatoes, mango, barley, medicinal plants, palm oil, marigold, onion, wheat, dry beans; poultry, beef, dairy products; fish; guinea pigs

mining and refining of minerals; steel, metal fabrication; petroleum extraction and refining, natural gas; fishing and fish processing, textiles, clothing, food processing

8.5% (2010 est.)

30.57 billion kWh (2008 est.)

28.97 billion kWh (2008 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

148,000 bbl/day (2009 est.)

157,000 bbl/day (2009 est.)

68,640 bbl/day (2007 est.)

133,100 bbl/day (2007 est.)

470.8 million bbl (1 January 2010 est.)

3.39 billion cu m (2008 est.)

3.39 billion cu m (2008 est.)

NA

0 cu m (2008 est.)

334.1 billion cu m (1 January 2010 est.)

-$333 million (2010 est.)

$246.3 million (2009 est.)

$33.73 billion (2010 est.)

$26.88 billion (2009 est.)

copper, gold, zinc, crude petroleum and petroleum products, coffee, potatoes, asparagus, textiles, fishmeal

US 17.86%, China 15.96%, Canada 11.35%, Japan 6.75%, Chile 5.42%, Germany 4.25% (2009)

$25.74 billion (2010 est.)

$21.01 billion (2009 est.)

petroleum and petroleum products, plastics, machinery, vehicles, iron and steel, wheat, paper

US 23.96%, China 10.74%, Ecuador 7.25%, Brazil 7.19%, Chile 5.68%, Argentina 5.59%, Mexico 5.02% (2009)

$37.27 billion (31 December 2010 est.)

$33.23 billion (31 December 2009 est.)

$33.29 billion (31 December 2010 est.)

$30.51 billion (31 December 2009 est.)

$43.47 billion (31 December 2010 est.)

$36.91 billion (31 December 2009 est.)

$2.12 billion (31 December 2010 est.)

$1.88 billion (31 December 2009 est.)

nuevo sol (PEN) per US dollar - 2.8178 (2010), 3.0115 (2009), 2.91 (2008), 3.1731 (2007), 3.2742 (2006)