Analysis and Studies - Country Analysis

Peru: a look at the market

Located in western South America, Peru is the largest of the Andean countries and the third largest on the continent. As much as half of the territory is covered by forests, mainly because the part beyond the Andes corresponds to the Amazon. The word "Peru" comes from Ancient Peru, which was home to numerous important Andean civilizations, most notably the Inca Empire, which was conquered by Spanish conquistadors in 1533. 

Peru is a unique country with great diversity in climate and characterized by extreme elevation. It is home to some of the highest peaks in the Andes and on the continent, with the highest peak in the country being Huascarán (6,768 m). The country shares borders with Bolivia, Brazil, Chile, Colombia, and Ecuador by land and Costa Rica by sea.  The capital Lima (pop. 8,992,000), is by far the country's main center, as it is home to more than 1/4 of the total population and is one of the largest metropolises on the continent. Peru is one of the most popular South American destinations due to the fact that it can offer an interesting mix of culture and nature and where, in addition, signs of ancient and flourishing local civilizations can still be found.

The country gained independence from Spain in 1824 and it became a democracy in the 1980s after many years of military rule. 

The Economy of Peru

In 2020 Peru's GDP was worth 201.71 billion dollars, and according to the Social Progress Index 2021 (published every year by the Social Progress Imperative, a non-profit organization that ranks countries according to social aspects such as access to basic human needs, general well-being, and opportunities), Peru is the 60th country in the world for living standards.

The top exports of Peru in 2020 were copper ore ($9.23 billion), gold ($6.46 billion), refined copper ($1.8 billion), petroleum gas ($1.41 billion), and animal meal and pellets ($1.19 billion), exporting mostly to China ($11.3 billion), the United States ($6.36 billion), South Korea ($2.71 billion), Canada ($2.42 billion), and Japan ($1.91 billion). Refined petroleum ($2.18 billion), broadcasting equipment ($1.08 billion), computers ($833 million), cars ($828 million), and crude petroleum ($752 million) were the country's biggest imports in 2020, importing mostly from China ($9.91 billion), the United States ($6.82 billion), Brazil ($1.77 billion), Chile ($1.46 billion), and Argentina ($1.41 billion).


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