Peru country brief march 2010

Peru
country brief
contents
key economic indicators .................................................... 2 overview ............................................................................... 2 political................................................................................. 3 imports and exports............................................................ 4 sectoropportunities............................................................ 6 sustainability ....................................................................... 8 market entry......................................................................... 8 regulatory issues................................................................. 9taxation............................................................................... 12 freight ................................................................................. 13 visa requirements.............................................................. 13 doing business with Peru................................................. 13 time difference................................................................... 14 holidays.............................................................................. 14 health and safety risks...................................................... 15 contacts.............................................................................. 16 useful websites.................................................................. 16

Peru Country Brief

This document is one of a series of free information tools for exportersproduced by New Zealand Trade and Enterprise. New Zealand Trade and Enterprise provides a wide range of standard services and sophisticated solutions that assist businesses through every stage of the export process. For information or advice, ring the Enterprise Hotline on 0800 555 888, visit www.nzte.govt.nz, contact your New Zealand Trade and Enterprise client manager.

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keyeconomic indicators
Economic Indicator Population GDP GDP Growth Rate GDP Per Capita Inflation Total Imports Total Exports Currency Exchange Rate Country 29.10 million (2009 est.) US$127.368 billion (2009 est.) 1.12% (2009) US$4,376 (2009 est.) 3.2% (2009 est.) US$20.5 billion (2007) US$31.2 billion (2008) 1 Peruvian Nuevo Sol (PEN) = 100 céntimos NZ $1 = PEN2.06 (as at January 2010) US $1 =PEN2.80 (as at January 2010) (see www.oanda.com for the latest exchange rate) Source: IMF World Economic Outlook database, Peruvian National Institute of Statistics (INEI), UN Comtrade Database , Oanda Currency Converter

overview
Peru and New Zealand
The Republic of Peru is New Zealand’s 70th largest export market (NZ$40.49 million), and our fourth largest market in South America. Peru is a focuscountry for New Zealand under the Government’s Latin America Strategy. The two countries signed a memorandum of understanding establishing formal foreign policy talks in 1998. The first two rounds of talks took place in Lima in June 2002 and July 2004, with further rounds in Wellington in November 2005 and in Lima in October 2006.

Economy
The Peruvian economy has outperformed others in SouthAmerica and many other global economies in recent years. The economy grew by 4% during the period 2002-06, and jumped to 9% in 2007 and 2008. Peru’s strong economic growth has been aided by trade liberalisation policies and economic reform in the 1990s, and strong measures to attract trade and foreign investment since 2001. High global prices for minerals, which have been Peru’s main export, havealso contributed to growth. Despite the global economic recession, the Peruvian economy grew 1.12% in 2009. 1

Industry
Peru Country Brief

The agricultural sector contributes 8.5% to GDP. sugarcane, coffee, wheat, rice, corn and barley.

Main agricultural products include cotton,

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Source: El Instituto Nacional de Estadística e Informática (INEI).

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Industry...