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- Economy_of_Peru abstract "Peru was once a stereotypical victim of multiple Latin American diseases. Poorly performing state industries ran up huge losses, driving the state to over-borrow and further weaken an already shaky currency. What economic vigor there was spread wealth among a small share of the population, leaving more than half the country mired in poverty. The country suffered from constant low-grade civil unrest and birthed occasionally-murderous revolutionary movements.In just 20 years however, the country has turned its back on the past, and its tendency to lurch from left-wing to right-wing macroeconomic policies based on the party in power. The guerilla movements have been suppressed. The poverty rate is falling. The currency is stable, inflation low, and investment is pouring in from the United States, United Kingdom, the European Union, Japan and new industrial giants like China, India and Brazil as well as Peru's neighbours such as Chile and Ecuador.In the swanky new office towers of Lima, European-descended Peruvians in suit and tie come and go as indigenous people sweep the cigarette butts from the streets. Smiling Europeans look out from billboards across the vast city hawking everything from cell phones, to soft drinks to lingerie, while Amerindians do all the heavy lifting. Unlike Mexico, where a pigmentocracy reigns even as official and cultural homage is paid to a glorious Indian past, even Peru’s banknotes feature a parade of pensive looking whites.Remarkably though, since FY 1991, the economy of Peru has experienced more than twenty straight years of growth, the exceptions being FY 1997 and FY 1999, and continuing its strong performance even during the global meltdown of 2007-2009. The country now exports a variety of products: fishmeal, agricultural products, clothes, textiles, machinery i.e. auto parts, electronics i.e. computer parts and software, gold, silver, copper, molybdenum, uranium and natural gas.Because of this exponential financial growth the international media catalogues current Peruvian economic model and both its macro and micro economics as The Peruvian Miracle.Peru is classified as upper middle income by the World Bank and is the 40th largest in the world by total GDP. Peru is one of the world's fastest-growing economies with a 2012 GDP growth rate of 6.3%. It currently has a high human development index of 0.741 and per capita GDP above $12,000 by PPP.The core of the current sound economic performance of the country is a combination of: Macroeconomic stability Prudent fiscal spending High international reserve accumulation External debt reduction Achievement of investment grade status Fiscal surplusesAll of these factors have enabled Peru to make great strides in development, with improvement in government finances, poverty reduction and progress in social sectors. Poverty has decreased dramatically in the past decade, from nearly 60% in 2004 to 25.8% in 2012.Peru is an emerging, market-oriented economy characterized by a high level of foreign trade. The inequality of opportunities has declined: between 1991 and 2012 Peru's rating on The World Bank's Human Opportunity Index improved substantially as increased public investment in water, sanitation and electric power has sustained the downward trend in inequality of opportunities. Its economy is diversified, although commodity exports still make up a significant proportion of economic activity and thus subject the economy to the risks of price volatility in the international markets. Trade and industry are centralized in Lima but agricultural exports have led to development in all the regions.Historically, for years, countries have zealously guarded their monopoly over transactions inside the country, requiring that business be done in one currency only: their own.Peru’s free-market minded don’t prevent prices denominated in dollars, and don’t chase money-changing into the black market. Instead, men carrying enormous wads of cash and wearing vests with big gold dollar-signs on the back ply their trade openly on the streets, negotiating rates and changing money with any and all comers. The state sees no need to force people to do business only in the Peruvian sol. But these days the sol is so stable strict currency controls are no longer necessary.Like many other countries in Latin America, Peru looked to the United States for inward investment and a security umbrella. Uncle Sam praised governments that followed capitalist orthodoxy and frowned on any moves toward socialism during the long decades of the Cold War.Peru’s giant neighbor to the east, Brazil, was a boom-bust underperformer and until 2010 cut off from western South America and the Pacific Ocean by the dense Amazon rain forest and the north-south spine of the continent, the Andes Mountains.Since 2010 however, the Trans-Oceanic Highway now links all of Brazil one of the BRICS countries to Peru. Brazil´s economic capital São Paulo, Brazil´s main tourist attraction Rio de Janeiro as well as western Brazil are connected by land to Peruvian Madre de Dios, Cusco, Arequipa, Ica, and Lima regions.Brazil via Peru is better connected to Pacific commerce with Asia. Peruvian agricultural products and manufactured goods also now heads east to new Brazilian 200 + millon consumers market, while Brazil’s massive soybean crop no longers faces a trip through the Panama Canal or around Cape Horn thousands of miles to the south to head to APEC and Pacific Rim markets.Peruvian economic performance has been tied to exports, which provide hard currency to finance imports and external debt payments. Peru's main exports are copper, gold, zinc, textiles, chemicals, pharmaceuticals, manufactures, machinery, services and fish meal; its major trade partners are the United States, China, Brazil, European Union and Chile. Although exports have provided substantial revenue, self-sustained growth and a more egalitarian distribution of income have proven elusive.Services account for 43% of Peruvian gross domestic product, followed by manufacturing (32.3%), extractive industries (15%), and taxes (9.7%). Recent economic growth has been fueled by macroeconomic stability, improved terms of trade, and rising investment and consumption. China has become Peru's largest trading partner following a free trade agreement with the People´s Republic of China signed on April 28, 2009 additional free trade agreements have being signed with the United States of America (2006)free trade agreement with the United States signed on April 12, 2006, the European Union June 26, 2012.[ http://www.larepublica.pe/26-06-2012/peru-suscribio-tlc-con-la-union-europeaThe EU and Peru Sign Trade Promotion Agreement], with Japan free trade agreement with the constitutional monarchy of Japan signed on May 31, 2011Inflation in 2012 was the lowest in Latin America at only 1.8%, but increased in 2013 as oil and commodity prices rose; as of 2014 it stands at 2.5%. The unemployment rate has fallen steadily in recent years, and as of 2012 stands at 3.4%.Peruvian economic policy has varied widely over the past decades. Going from the 1968 military´s junta government of Peruvian army General Juan Velasco Alvarado that introduced radical soviet inspired reforms, which included agrarian reform, the expropriation of foreign companies, the introduction of an economic planning system, and the creation of a large state-owned sector to the 1990neoliberal government of Alberto Fujimori and it´s extreme but necessary ´Fuji-Shock´ therapy of August 1990. The economic ´Fuji-Shock´ therapy ended abruptly the soviet minded economic policies and the careless budget and national debt managing of the previous 20 years.The pro-market policies enacted by Fujimori, were continued by presidents Alejandro Toledo, Alan Garcia, and current Peruvian President Ollanta Humala (2011-2016), a former Peruvian army captain who unlike his predecessor General Velasco does not believes in socialism and 20 years after the ´Fuji-Shock´ Humala continues sticking firmly with Fujimori´s and Toledo’s economic policies which can be described as neoliberal or strongly pro free-trade. and While poverty of Lima is 8.5%, the national average is 25.8%, while the unemployment rate is 6.5% and 74% are employed formally.".
- Economy_of_Peru thumbnail Lima_Peru_City_Skyline_San_Isidro_2013.jpg?width=300.
- Economy_of_Peru wikiPageExternalLink Summary.
- Economy_of_Peru wikiPageExternalLink peru_background_2006_04.pdf.
- Economy_of_Peru wikiPageExternalLink www.ciponline.org.
- Economy_of_Peru wikiPageExternalLink www.fpif.org.
- Economy_of_Peru wikiPageExternalLink pe.html.
- Economy_of_Peru wikiPageID "23435".
- Economy_of_Peru wikiPageRevisionID "606546210".
- Economy_of_Peru aid "5.25E9".
- Economy_of_Peru caption "Financial centre of Lima".
- Economy_of_Peru cianame "pe".
- Economy_of_Peru country "Peru".
- Economy_of_Peru credit "*Standard & Poor's:".
- Economy_of_Peru credit "A+".
- Economy_of_Peru credit "Outlook: Positive".
- Economy_of_Peru credit "Outlook: Stable *Fitch:".
- Economy_of_Peru credit "Outlook: Stable *Moody's:".
- Economy_of_Peru currency Peruvian_nuevo_sol.
- Economy_of_Peru debt "10.9".
- Economy_of_Peru edbr "39".
- Economy_of_Peru expenses "6.642E10".
- Economy_of_Peru exportGoods "copper, gold, lead, zinc, tin, iron ore, molybdenum, silver, crude petroleum and petroleum products, natural gas, coffee, asparagus, and other vegetables, fruit, apparel and textiles, fishmeal, fish, chemicals, fabricated metal products and machinery, alloys".
- Economy_of_Peru exportPartners "10.0".
- Economy_of_Peru exportPartners "15.0".
- Economy_of_Peru exportPartners "20.0".
- Economy_of_Peru exportPartners "5.0".
- Economy_of_Peru exports "7.35E10".
- Economy_of_Peru fdi "7.657E10".
- Economy_of_Peru gdp "3.68E11".
- Economy_of_Peru gini "▼ 48.1".
- Economy_of_Peru grossExternalDebt "3.015E10".
- Economy_of_Peru growth "5.9".
- Economy_of_Peru hasPhotoCollection Economy_of_Peru.
- Economy_of_Peru importGoods "petroleum and petroleum products, chemicals, plastics, machinery, vehicles, color TV sets, power shovels, front-end loaders, telephones and telecommunications equipment, iron and steel, wheat, corn, soybean products, paper, cotton, vaccines and medicines".
- Economy_of_Peru importPartners "1.0".
- Economy_of_Peru importPartners "10.0".
- Economy_of_Peru importPartners "15.0".
- Economy_of_Peru importPartners "25.0".
- Economy_of_Peru importPartners "4.0".
- Economy_of_Peru importPartners "5.0".
- Economy_of_Peru imports "6.8E10".
- Economy_of_Peru industries "mining and refining of minerals/jewels; steel, metal fabrication; petroleum extraction and refining, natural gas and natural gas liquefaction, fishing and fish processing, cement, glass, textiles, clothing, food processing, beer, soft drinks, rubber, machinery, electrical machinery. chemicals, furniture".
- Economy_of_Peru inflation "▼2%".
- Economy_of_Peru labor "16160000".
- Economy_of_Peru note "Peru is now a Net International Creditor".
- Economy_of_Peru occupations "industry: 17.4%, agriculture: 25.8%, services: 56.8%".
- Economy_of_Peru perCapita "11735.0".
- Economy_of_Peru poverty "▼25.8%".
- Economy_of_Peru rank "39".
- Economy_of_Peru reserves "US$71.22 billion".
- Economy_of_Peru revenue "7.095E10".
- Economy_of_Peru sectors "agriculture: 6.2%; industry: 37.5%; services: 56.3%".
- Economy_of_Peru unemployment "▼3.6%".
- Economy_of_Peru width "280".
- Economy_of_Peru year Calendar_year.
- Economy_of_Peru subject Category:Economy_of_Peru.
- Economy_of_Peru subject Category:World_Trade_Organization_member_economies.
- Economy_of_Peru comment "Peru was once a stereotypical victim of multiple Latin American diseases. Poorly performing state industries ran up huge losses, driving the state to over-borrow and further weaken an already shaky currency. What economic vigor there was spread wealth among a small share of the population, leaving more than half the country mired in poverty.".
- Economy_of_Peru label "Economia do Peru".
- Economy_of_Peru label "Economy of Peru".
- Economy_of_Peru label "Economía del Perú".
- Economy_of_Peru label "Wirtschaft Perus".
- Economy_of_Peru label "Économie du Pérou".
- Economy_of_Peru label "Экономика Перу".
- Economy_of_Peru label "اقتصاد بيرو".
- Economy_of_Peru label "秘鲁经济".
- Economy_of_Peru sameAs Wirtschaft_Perus.
- Economy_of_Peru sameAs Economía_del_Perú.
- Economy_of_Peru sameAs Économie_du_Pérou.
- Economy_of_Peru sameAs Economia_do_Peru.
- Economy_of_Peru sameAs m.0119ryfp.
- Economy_of_Peru sameAs Q511629.
- Economy_of_Peru sameAs Q511629.
- Economy_of_Peru wasDerivedFrom Economy_of_Peru?oldid=606546210.
- Economy_of_Peru depiction Lima_Peru_City_Skyline_San_Isidro_2013.jpg.
- Economy_of_Peru isPrimaryTopicOf Economy_of_Peru.