Faced with slower GDP growth in 2014 and 2015, Peru is working to reinvigorate economic expansion through a series of counter-cyclical fiscal measures, aimed at developing infrastructure and education in particular. However, these spending packages have so far met with mixed results and will likely require more time to yield the broader...
The Pacific Alliance is an integration agreement created in 2011 between Chile, Colombia, Peru and Mexico, with several other countries expected to join the near future. The first formal proposal had been tabled by then-president, Alan García, who convened a meeting with the leaders of the three other countries on April 28, 2011. The meeting...
Peru has been promoting different types of special economic zones (SEZs) for a number of years, in an effort to support economic diversification, regional development and international trade. By 2015 there were three special entities designated as export, transformation, industry, marketing and service centres (Centros de Exportación,...
Bouncing back from political instability and hyperinflation in the 1970s and 1980s, Peru has sustained average GDP growth of 6% since 2004. A major metals and minerals exporter, Peru’s growth has been fuelled in large part by high commodity prices and stable demand from China. This has allowed the country to become an important player on the...
In 2014 Peru was the seventh-largest economy in the Latin America and Caribbean region, with a GDP of $202.9bn. According to data from the World Bank, this represented 3.2% of total regional GDP, behind Brazil (37.2%), Mexico (20.4%), Argentina (8.6%), Venezuela (8.1%), Colombia (6.0%) and Chile (4.1%). On some rankings using purchasing power...
Buoyed by high commodity prices and market-friendly policies, Peru has been one of the best-performing and stable economies in Latin America over the past decade. Rapid economic growth has, in turn, spurred an emerging middle class and notable social gains, with the number of Peruvians living in poverty falling by more than half in the period...
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