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Located in the south of Peru, the department of Arequipa shares its border with six other departments, including Ica and Ayacucho to the north-west, Apurímac and Cusco to the north, and Puno and Moquegua to the south-east. The population of Arequipa is set to reach a total of 1.3m people in 2017, representing 4.1% of the country’s population. In 2015 Arequipa had about 693,100 economically...
Chapter | Innovation from The Report: Peru 2017
Investment in research and development (R&D) and innovation has been increasing in recent years in Peru, partly as a result of a greater government commitment to science, technology and innovation issues. Spending on science and technology R&D increased by 93.6% between 2011 and 2014. This investment seems to be paying off in terms of institutional development, sector incentives and...
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...
Chapter | Country Profile from The Report: Peru 2017
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...
Over the last two decades Peru has been one of the fastest-growing economies in the region. Remarkably resilient to global headwinds, positive GDP growth has continued despite the end of the commodities boom. Yet the growth rate has slowed and the initial impetus of a first wave of structural reforms has faded. The question now is whether the current administration can address problems, implement further reforms and re-accelerate the economy.