Peru Overview

Peru is experiencing a favourable economic situation. The country registered a 5.5% annual GDP growth rate in 2005 and 5.1% in 2004. The IMF forecasts a 4.6% growth in 2006. Unlike its Latin American neighbours, the country did not suffer recent currencies devaluation as the Brazilian Real or the Argentinean Peso did. The economy's growth, bolstered by a dynamic mining sector, favours foreign investments inflows, especially from Spain, the United Kingdom, the United States and Canada. However, poverty and unemployment remain high, 50% of the population is still living in poverty.

Agriculture, food-processing industry, ore exploitation and tourism are booming sectors. 33% of the active population is employed in agriculture. The World Bank granted a loan amounted to 20 billion $currency_text_plural$ on March 2005. The mining sector was privatised in the 90s and investments needs in this sector are extensive. Antamina, the biggest copper-zinc mine in the world started production in 2001. Thanks to the discovery of the deposit of Alto Chicama, Peri is now the fourth most important productor of gold.

Exports improved by 37% in 2005 thanks to the ore price rates. Raw materials represent two thirds of these exports. Peru's top three export partners are the United States, China and the United Kingdom. Its top three import countries are the United States, Colombia and China. Peru mainly imports machinery, hydrocarbons, electronic equipment and vehicles.