Peru, a former Spanish colony experienced problems in the economic sector during the 1980s. But Peru economy witnessed an extensive growth in 1990s after President Fujimori came into power.
Peru economy thus is shaped and colored to a large extent by the political system of the country.
The
economy of Peru is a reflection of the diversified geographical built of the country. Such varied topography provides Peru with plentiful mineral resources found in the mountain regions and fishes in the coastal waters.
But
Peru's economy suffers from too much dependence on the country's mineral resources together with the absent of a sound economic infrastructure. These have led to fluctuations in the global prices and have hampered the trade and investment. The face of
economy in Peru changed in 2002 to 2006 after a period of low performance. Peru experienced more than 4% economic growth and a stable exchange rate and decrease in inflation.
Despite such high rate economic development underemployment and poverty are still persisting in Peru.
Peruvian economy continues to grow based on the export of minerals, textiles and agricultural products.. The new President, Alan Garcia has taken up new economic programs to maintain and increase economic growth in Peru.
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