With streets choked corner to corner with taxis, cars and their blaring horns, the relatively recent arrival in Lima of motorcycle taxis is a welcome, but not surprising addition. Coordinating president of Peru’s National Society of Industries Metal-Mechanics Committees, Emilio Navarro points out how this transportation phenomenon is closely...
A shift towards industrial development is propelling a number of Latin America’s leading economies. As one of the frontrunners, Peru has caught on to the trend of moving away from primary product dependency, discovering the benefits of establishing a healthy balance between manufacturing and commodity exports. The results are evident in domestic...
An ancient industry in Peru, textiles not only represent a cultural heritage but also an important part of the manufacturing sector that aims to compete on a global level. By the end of 2011 textile and garment exports grew by 26%, meaning the industry had almost fully recovered from the effects of the global economic crisis. Revenues were close to...
Like many Latin American countries, Peru’s economy relied heavily on exporting primary products throughout most of the 20th century, an economic strategy that historically has provided little security when global financial crises hit or foreign markets no longer require those raw materials. Over the past decade, however, the country has consciously...
With a radius of 24 square blocks located in the heart of downtown Lima, Gamarra is the capital city’s most important textiles emporium, both for production and retail. According to the Inter-American Development Bank, 150 galleries house more than 14,000 companies that either produce or sell textiles and apparel in Gamarra, providing work for 90,...
As more Peruvians continue to work their way into the country’s burgeoning middle class, an increase in disposable income has led to strong growth in the retail sector. According to UN data, GDP per capita increased by 19% between 2009 and 2010, and is expected to rise in the coming years as the economy continues to expand.
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