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Peruvian Economy - Peru Resources

With resources like fishing, mining, textile, petroleum, and agriculture (great coffee), as well as natural products like wool and hardwood, Peru has a wide range of products available.

One of the top 3 fastest growing economies in the world in 2011, Peru has been drawing a lot of attention from investors in foreign countries.

Current Overview - Economy of Peru 2011

Becoming more popular in the international investment circles, Peru is likely to continue to attract domestic and foreign investment in Peru resources such as tourism, agriculture, mining, petroleum and natural gas, as well as power industries and financial institutions.

Peruvian Economy - Peru Resources

Peru's GDP rank in the world is #51, while it is at #6 in South America, following Brazil, Venezuela, Argentina, Colombia, and Chile. It has the lowest annual inflation rate in South America at under 1.8%.

What's Happening in the Peruvian Economy

Current out-going President Alan Garcia's macroeconomic policies brought Peru's growth back up after a slump in 2009. The popularity of a left-leaning presidential candidate, Ollanta Humala, in 2011's presidential elections at first caused some concern among investors, but the situation has calmed down with promises not to upset the apple cart on his part.

The real growth rate for the Peruvian economy in 2008 was the highest in the world at 9.8%, falling to 0.9% in 1999, but climbing to 7.8% in 2010. Now, in 2011, the average growth rate for the first quarter in Peru has been 9.9%, while inflation increased to 4% in April.

peruvian economy growth GDP chart

Source: tradingeconomics.com

Consumer prices increased in the first quarter of 2011 to an annual rate of 2.66%. About half of that increase was due to increased import on such items as corn. On the other hand, unemployment was at a modest 6.7% for 2010 and slightly better at the beginning of 2011.

Peruvian Economy - Peru Resources

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Peruvian Fishing

Peru has traditionally relied on its Pacific Coast to bring in the most money to its economy. From the traffic in guano fertilizer in 1800s to fishmeal and other fishing in the 1900s, today Peru supplies 10% of the world's fish catch.

Peruvian Mining

Mining also has traditionally been a major player in the Peruvian economy and remains one of the main Peru resources. From the heyday of the Spanish gold mines to the current time, Peru is known for its mines. Peru is currently in the top five producers worldwide of gold, copper, lead, and zinc.

Peruvian Textile

Although the Peruvian economy has never had much to show in the area of manufacturing, that is changing now with the most promising sector being textiles.

Peruvian Hardwood

Plagued by accusations of over logging the Amazon forest regions as well as massive illegal logging, the Peruvian lumber and hardwood industry is being harassed from several different directions.

In spite of this controversial position, Peru's hardwood exportation remains a strong Peru resource and, legally or illegally, brings a lot of money into the economy. No one is sure how much.

Peruvian Wool

One of the sectors of agriculture worth mentioning is the wool produced in Peru. Along with cotton, this raw material for textiles is used more and more in the production of clothing in Peru itself as well as being a product for exportation.

Peruvian Coffee

World-acclaimed coffee, including world-winning organic coffee, is increasing in production in Peru. Although Peruvians themselves for the most part are not coffee connoisseurs, this is changing in the larger cities (see Best Coffee in Lima, Peru).

Most of the great coffee being grown in Peru is, of course, exported to countries where people are willing to pay exorbitant prices for the best taste.

Peruvian Natural Products

As in most third-world countries, the average Peruvian has not had the luxury of purchasing higher-priced natural products.

Now, however, with production of natural products for exportation as well as a better education in the health benefits of naturally grown products, whether for food, cosmetics, or other uses, Peruvian natural products can be bought in most cities and smaller towns within Peru itself.

The opportunities for further development of marketing of natural products as a Peru resource are many, whether in Peru or for export.