Friday, March 23, 2012
Country Profile : PERU
Peru's rich and varied heritage includes the ancient Incan capital of Cuzco and the lost city of Machu Picchu. The country boasts spectacular scenery, including Lake Titicaca, the world's highest navigable lake.
The Peruvian economy has been growing by an average of 6% per year since 2001 with a stable exchange rate and low inflation. Growth in 2010 was above 8% and in 2011 above 6%, due partly to a leap in private investment, especially in the extractive sector, which accounts for more than 60% of Peru's total exports.
- Population: 29.4 million (UN 2011)
- Capital: Lime
- Monetary unit: 1 nuevo sol = 100 centimos
- Nuevo sol (PEN) per US dollar 2.75 (2011 est.)
- GDP Per Capita: USD$10, 000 ( est. 2011)
- International dialing code: +51
- Labor Force by Occupation: Agriculture 0.7%, Industry 23.8 %, services 75.5% (2005)
Imports: Petroleum and petroleum products, chemicals, plastics, machinery, vehicles, color TV sets, power shovels, front-end loaders, telephones and telecommunication equipment, iron and steel, wheat, corn, soybean products, paper, cotton, vaccines and medicines
Import Partners: US 24.7%, China 13%, Brazil 7.4%, Ecuador 4.7%, Chile 4.3%, Colombia 4.2% (2010)
Main exports: Fish & fish products, copper, zinc, gold, crude petroleum & by-products, lead, coffee, sugar, cotton.
U.S.-Peru Trade: The United States and Peru signed the United States-Peru Trade Promotion Agreement (PTPA) on April 12, 2006. On December 14, 2007, the U.S.-Peru Trade Promotion Agreement Implementation Act became law, and the PTPA entered into force on February 1, 2009.
Peru is currently our 42nd largest goods trading partner with $11.8 billion in total (two way) goods trade during 2010. Goods exports totaled $6.7 billion; Goods imports totaled $5.1 billion. The U.S. goods trade surplus with Peru was $1.7 billion in 2010.
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References: BBC News, Central Intelligence Agency, World Trade Organization, US. Trade Representative