Peru

Peru – Economy

Peru is becoming more important commercially. It is one of the countries in Latin America, which could register steady growth rates in the last 1.5 decades. The growth has in fact slowed down and has not probably achieved the high rates in the recent past, but the effectiveness of the economic reforms and self-awareness of the young population speaks for itself. The activities in the Metropolis, with Lima leading the way, the foreign investment in the tourist sector and the infrastructure are visible signs of the positive economic development. The bilateral co-operation of Peru with the industrial countries like Germany in the sectors of infrastructure, environmental protection, waste disposal and water treatment is making headway. The country is one of the largest receivers of German funds for development cooperation in Latin America. Likewise, Germany is also an important business partner of Peru. 2016 has the trade volume of 2.12 billion USD.

The country is experiencing a phase of consolidation after years of a dynamic economic growth. The important industrial sectors are mining and tourism, followed by fisheries sector. Trade and commerce (Import & Export) are of extreme importance for the economic growth in Peru. The port of Callao plays a central role, as it functions as a central transhipment point between Asia and Brazil and leads a route to Europe. The mining put into operation two mines at the end of the year 2015, which enabled an unexpected economic growth of 3.26 %. For 2017, a growth of 3.8 % shall be expected. Peru achieved a trade surplus of 1.73 million in 2016.

Peru – Politics

In its foreign and trade policy, the country grants high priority to the bilateral relationships with USA, Russia, entire EU and individual European countries and naturally also the Asian countries. Individual countries and unions within Latin America have a high significance for the efforts of the country to establish partnerships and alliances, e.g., Brazil. China has already left the US and the EU far behind with respect to the volume of the trade with Peru and investments.  The foreign policy positioning of the country and the dealing with the neighbouring countries is increasingly characterised by the search for balance and collaborative coexistence. Peru, along with Bolivia, Ecuador and Columbia, is a member of Andean Community of Nations (CAN). Likewise, Peru is a member of the Union of South American Countries (UNASUR) and the pacific alliance (Alianza del Pacifico). With Brazil, there exist diverse transnational infrastructure projects and agreements.

For more information about the country and its regulations, we recommend you to visit the website Auswertiges-amt.de.