Competition in the construction sector begins long before the final product hits the market. The key lies in skilled labour, which is scarce in Lima and even more so in the rest of Peru. This has not hindered growth, but has compelled developers to either pay higher wages for workers with keenly sought-out trades or invest in specialised training...
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...
The numbers show just how much construction is contributing to Peru’s economic success. In 2011 the economy expanded by 6.92%, with the construction sector growing 3.34%. Multiple building sites around Lima are a testament to the size of the boom in the capital. From 2010 to 2011 total construction in Lima – measured in sq metres – grew by around 10...
Economic development over the past decade has in part been driven by the rising demand for exports from Peru’s expanding extractive industries, as well as its diverse agriculture sector. Thus, in 2005 the National Port Authority (Autoridad Portuaria Nacional, APN), with the Ministry of Transportation and Communications (MTC), released Peru’s...
If construction is flourishing, so are property sales. The real estate market offers opportunities for both local and foreign investors that just a decade ago did not exist. Many foreign players have embarked on joint ventures with Peruvian companies, a model proving to be an efficient way to cover the most ground. Housing is an important segment...
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...
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