The mining sector can be described as one of the main engines of the Peruvian economy as it accounts for 12% of total GDP. It creates direct employment for 174,000 workers and indirectly accounts for another 1.5m jobs. In 2016 mining exports totalled $23.8bn – consisting of 65% of the country’s total merchandise exports. The medium-term outlook is certainly positive, with a range of new mines...
Though recent highs in premium income have made Peru’s insurance market one of the fastest-growing in Latin America, the country remains comparatively underinsured. Taking these two factors into consideration, the sector has been showing strong growth but from a relatively low base, and that awareness of insurance as a way of managing public and private risks is very low. These low levels of...
The Peruvian stock exchange, the Lima Stock Exchange (Bolsa de Valores de Lima, BVL), had a boom year in 2016, achieving one of the highest rates of return in the world. The main index, the Standard & Poor’s (S&P)/BVL Perú General, ended the year at 15,567 points, a gain of 58.1% on the previous year, according to the World Federation of Exchanges. This made it the second-best-...
Peru’s banking system is widely seen as one of the most stable and well regulated in Latin America. One of main the banking sector stories in 2017 is how this solid services industry will adapt to Peru’s gradual transition from average annual growth rates of 7-8% during the commodity boom to a more moderate medium-term average growth rate, with the economy expected to stabilise at around 4-5...
The Peruvian economy is at an interesting crossroads. Over the last two decades it has been one of the fastest-growing economies in the region, enjoying macroeconomic stability, a strong mining sector, an open economy, and growing agro-industry and services sectors. Positive GDP growth has continued despite the end of the commodities boom. According to World Bank statistics, Peru had a nominal...
Once known as a country scarred by economic and social upheaval, Peru has now experienced nearly two decades of economic growth alongside the continued establishment of democratic principles – increasingly so since the turn of the millennium. Buoyed by high commodity prices, the mineral-rich country grew at an average annual rate of 6.2% in the decade to 2014, cementing its status as one of...
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