Although the sultanate’s petroleum wealth has traditionally provided a backbone for growth, efforts are well under way to diversify away from hydrocarbons. Oman Vision 2020 has laid out plans to boost industrialisation within the sultanate and to encourage the private sector to take a more active role in the economy and in the provision of jobs, both of which are billed as key drivers for growth.
While the country’s economy has long been dominated by the mining sector, less attention has been paid to other sectors. However, as commodity prices have fallen, dragging mining output down with them, Peru will have to lean more heavily on manufacturing to drive future growth. This new reality presents both challenges and opportunities. Peruvian manufacturing benefits...
Until a few years ago, Peru’s retail sector was one of the least mature in the region. Since then it has become Latin America’s fastest-growing, as shopping malls, supermarkets and stores from international brands have proliferated. Growth has been fastest in the advantage of this situation to establish a position for itself in the retail sector. In 2005, it opened its...
Accounting for around 15% of GDP, the manufacturing sector has recorded strong growth over the past decade. Between 2004 and 2013, value added from manufacturing grew at a compound annual rate of 5.8% in real terms. While growth is uneven among the various manufacturing activities, the sector has been buoyed by strong growth in basic metal products and in non-metallic minerals. The government...
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