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Last Published: 11/1/2018

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Peru continues to lead Latin America as one of the fastest growing economies in the region, with an average annual growth rate of 5.0% per year between 2005 and 2017 and 2.5% growth in 2017. Peru’s export-oriented growth model, mining and agricultural sectors, continues to produce solid growth despite Peru’s ongoing challenges in reducing corruption, increasing productivity, and improving infrastructure. The central government initiated plans for Public-Private Partnership infrastructure projects and announced an updated catalog of 50 projects valued at over $10 billion, to be realized between 2018 and 2020 (ProInversion). As the economy has grown, poverty in Peru has steadily decreased, falling by more than half. According to the Peruvian Informatics and Statistics Agency (INEI) poverty levels fell from 56% in 2005 and 20.7% in 2016. However in 2017, the poverty level rose slightly to 22%. Peru’s steady economic growth began with the pro-market policies enacted by former President Alberto Fujimori in the 1990s. All subsequent governments have continued those policies, including current President Martín Vizcarra. Peru’s currency, the Sol (PEN), has been among the least volatile of all Latin American currencies in the past few years. Since the mid-1990’s, the PEN’s exchange rate with the USD has fluctuated between 1.25 and 3.55. The PEN closed at 3.27/USD on June 21, 2018. In its Doing Business 2018 publication, the World Bank ranked Peru 58th among 190 countries surveyed in terms of ease of doing business. The report rates the ease of processes like starting a business, dealing with construction permits, registering property, and obtaining credit. For the complete report please see Doing Business in Peru: Doing Business in Peru.

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Peru Trade Development and Promotion