Peru's economy reflects its varied geography - an arid coastal region, the Andes further inland, and tropical lands bordering Colombia and Brazil. Important mineral resources are found in the mountainous and coastal areas, and Peru's coastal waters provide excellent fishing grounds. The Peruvian economy has been growing by an average of 6.4% per year since 2002 with a stable/slightly appreciating exchange rate and low inflation. Growth in 2010 was close to 9% and in 2011 almost 7%, due partly to a leap in private investment, especially in the extractive sector, which accounts for more than 60% of Peru's total exports. At 3.4%, inflation in 2011 exceeded somewhat the upper range of the Central Bank's 1%-3% target. Despite Peru's strong macroeconomic performance, dependence on minerals and metals exports and imported foodstuffs subjects the economy to fluctuations in world prices. Poor infrastructure hinders the spread of growth to Peru's non-coastal areas. Peru's rapid expansion coupled with cash transfers and other programs have helped to reduce the national poverty rate by 23 percentage points since 2002. A growing number of Peruvians are sharing in the benefits of growth but inequality persists posing a challenge for the new Ollanta HUMALA administration, which has championed indigenous and local disenfranchised groups. The administration seems committed to Peru's free-trade path. Since 2006, Peru has signed trade deals with the US, Canada, Singapore, China, Korea, Mexico, and Japan, concluded negotiations with the European Free Trade Association and Chile, and begun trade talks with Central American countries and others. The US-Peru Trade Promotion Agreement entered into force 1 February 2009, opening the way to greater trade and investment between the two economies. Trade agreements with South Korea, Japan, and Mexico also were signed in 2011. Although Peru has continued to attract foreign investment, political disputes and protests may impede development of some projects related to natural resource extraction.

Individuals older than 14 years of age (2011 est.)

Data are for metropolitan Lima; widespread underemployment

Data cover general government debt, and includes debt instruments issued by government entities other than the treasury; the data exclude treasury debt held by foreign entities; the data include debt issued by subnational entities

Data are for metropolitan Lima, annual average

$25.35 billion (31 December 2011 est.)

$21.69 billion (31 December 2010 est.)

$71.81 billion (31 December 2011 est.)

$56.76 billion (31 December 2010 est.)

$33.76 billion (31 December 2011 est.)

$28.24 billion (31 December 2010 est.)

$121.6 billion (31 December 2011)

$160.9 billion (31 December 2010)

$107.3 billion (31 December 2009)

Asparagus, coffee, cocoa, cotton, sugarcane, rice, potatoes, corn, plantains, grapes, oranges, pineapples, guavas, bananas, apples, lemons, pears, coca, tomatoes, mangoes, barley, medicinal plants, palm oil, marigold, onion, wheat, dry beans; poultry, beef, pork, dairy products; guinea pigs; fish

Mining and refining of minerals; steel, metal fabrication; petroleum extraction and refining, natural gas and natural gas liquefaction; fishing and fish processing, cement, glass, textiles, clothing, food processing, beer, soft drinks, rubber, machinery, electrical machinery, chemicals, furniture

532.7 million bbl (1 January 2011 est.)

In 2010 Peru became a net exporter of LNG (2010 est.)

345.5 billion cu m (1 January 2011 est.)

Copper, gold, lead, zinc, tin, iron ore, molybdenum, silver; crude petroleum and petroleum products, natural gas; coffee, asparagus and other vegetables, fruit, apparel and textiles, fishmeal, fish, chemicals, fabricated metal products and machinery, alloys

China 18.4%, US 15.3%, Canada 11.5%, Japan 5.6%, Spain 5.4%, Chile 4.8%, South Korea 4.6%, Germany 4.1% (2010 est.)

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

US 24.7%, China 13.8%, Brazil 6.7%, Chile 6%, Ecuador 4.4%, South Korea 4.1% (2010 est.)

$48.93 billion (31 December 2011 est.)

$44.21 billion (31 December 2010 est.)

$36.98 billion (31 December 2011 est.)

$36.27 billion (31 December 2010 est.)

Public debt component of total: $20.6 billion (31 December 2009)

$51.57 billion (31 December 2011 est.)

$44.02 billion (31 December 2010 est.)

$2.205 billion (31 December 2011 est.)

$2.095 billion (31 December 2010 est.)

Nuevo sol (PEN) per US dollar -