Editing Peru (section)

==Economy==
{{Main|Economy of Peru}}
[[File:Sanisidroskyscrapers.jpg|thumb|The [[San Isidro District, Lima|San Isidro District]] in [[Lima]], the financial centre of Peru]]
The economy of Peru is the 48th largest in the world (ranked by [[Purchasing power parity|Purchasing Power Parity (PPP)]]),<ref>[https://www.cia.gov/the-world-factbook/countries/peru/ Peru] {{Webarchive|url=https://web.archive.org/web/20210123014649/https://www.cia.gov/the-world-factbook/countries/peru/ |date=23 January 2021}} . CIA, The World Factbook</ref> and the income level is classified as ''upper middle'' by the World Bank.<ref>The World Bank, [http://data.worldbank.org/country/peru ''Data by country: Peru''] {{webarchive |url=https://web.archive.org/web/20161108042430/http://data.worldbank.org/country/peru |date=8 November 2016}}. Retrieved on 1 October 2011.</ref> Peru is, {{As of|2011|lc=y}}, one of the world's fastest-growing economies owing to an economic boom experienced during the 2000s.<ref>BBC (31 July 2012), [http://news.bbc.co.uk/2/hi/americas/country_profiles/1224656.stm ''Peru country profile''] {{webarchive |url=https://web.archive.org/web/20161105050541/http://news.bbc.co.uk/2/hi/americas/country_profiles/1224656.stm |date=5 November 2016}}.</ref> It has an above-average [[Human Development Index|Human Development Index (HDI)]] of 0.76 which has seen steady improvement over the years leading up to 2024, which has seen another 0.007 points improvement.<ref>{{cite web|title= Peru|url=http://hdr.undp.org/en/countries/profiles/PER|website=Human Development Reports |publisher=United Nations|language=en|date=2016|access-date=7 January 2018|archive-date=28 December 2017|archive-url=https://web.archive.org/web/20171228165331/http://hdr.undp.org/en/countries/profiles/PER|url-status=live}}</ref> Historically, the country's economic performance has been tied to exports, which provide [[hard currency]] to finance imports and external debt payments.<ref>Thorp, p. 4.</ref> Although they have provided substantial revenue, self-sustained growth and a more egalitarian [[distribution of income]] have proven elusive.<ref>Thorp, p. 321.</ref> According to 2015 data, 19.3% of its total population is poor, including 9% that lives in extreme poverty.<ref>{{cite web|url=http://www.worldbank.org/en/country/peru/overview|title=Overview|access-date=2 January 2018|archive-date=29 December 2017|archive-url=https://web.archive.org/web/20171229034557/http://www.worldbank.org/en/country/peru/overview|url-status=live}}</ref> Inflation in 2012 was the lowest in Latin America at only 1.8%, but increased in 2013 as oil and commodity prices rose; {{As of|2014|lc=y}} it stands at 2.5%,<ref>{{cite web | url=http://www.imf.org/external/country/PER/index.htm?pn=2 | title=Peru and the IMF | publisher=[[International Monetary Fund]] | access-date=27 July 2014 | archive-date=3 July 2014 | archive-url=https://web.archive.org/web/20140703022454/http://www.imf.org/external/country/PER/index.htm?pn=2 | url-status=live}}</ref> and 8.6% in 2023.<ref>{{Cite web |last=Montero |first=Juan Carlos Pérez |date=1 March 2023 |title=Perú registró una inflación de 0,43% en febrero de 2023 |url=https://finanzasdigital.com/2023/03/peru-registro-una-inflacion-de-043/ |access-date= |website=Finanzas Digital |language=es |archive-date=4 March 2023 |archive-url=https://web.archive.org/web/20230304003635/https://finanzasdigital.com/2023/03/peru-registro-una-inflacion-de-043/ |url-status=live}}</ref> The unemployment rate was 3.6% in 2012.
[[File:Bolsa de Valores de Lima, Peru.jpg|thumb|[[Lima Stock Exchange]] Building]]

Peruvian economic policy has varied widely over {{clarify span|the past decades.|must specify exactly which decades are meant, since readers don't know when this statement was added to the article|date=July 2019}} The 1968–1975 government of [[Juan Velasco Alvarado]] introduced radical reforms, which included [[Peruvian Agrarian Reform|agrarian reform]], the expropriation of foreign companies, the introduction of an [[economic interventionism|economic planning system]], and the creation of a large state-owned sector. These measures failed to achieve their objectives of [[income redistribution]] and the end of [[dependency theory|economic dependence on developed nations]].<ref>Thorp, pp. 318–319.</ref>

Despite these results, most reforms were not reversed until the 1990s, when the [[liberalization|liberalizing]] government of [[Alberto Fujimori]] ended [[price controls]], [[protectionism]], restrictions on [[foreign direct investment]], and most state ownership of companies.<ref name="Sheahan" />

{{As of|2010}} [[Tertiary sector of industry|Services]] account for 53% of Peruvian gross domestic product, followed by manufacturing (22.3%), extractive industries (15%), and taxes (9.7%).<ref>2006 figures. {{in lang|es}} Banco Central de Reserva, [http://www.bcrp.gob.pe/publicaciones/memoria-anual/memoria-2006.html ''Memoria 2006''] {{webarchive |url=https://web.archive.org/web/20160909090819/http://www.bcrp.gob.pe/publicaciones/memoria-anual/memoria-2006.html |date=9 September 2016}}, p. 204. Retrieved 27 December 2010.</ref> Recent economic growth had been fueled by [[Macroeconomics|macroeconomic]] stability, improved [[terms of trade]], and rising investment and consumption.<ref>{{in lang|es}} Banco Central de Reserva, [http://www.bcrp.gob.pe/publicaciones/memoria-anual/memoria-2006.html ''Memoria 2006''] {{webarchive |url=https://web.archive.org/web/20160909090819/http://www.bcrp.gob.pe/publicaciones/memoria-anual/memoria-2006.html |date=9 September 2016}}, pp. 15, 203. Retrieved 27 December 2010.</ref> Trade was expected to increase further after the implementation of a [[United States-Peru Trade Promotion Agreement|free trade agreement with the United States]] signed on 12 April 2006.<ref>Office of the U.S. Trade Representative, [https://web.archive.org/web/20110501000640/http://ustraderep.gov/Document_Library/Press_Releases/2006/April/United_States_Peru_Sign_Trade_Promotion_Agreement.html ''United States and Peru Sign Trade Promotion Agreement''], 12 April 2006. Retrieved 27 December 2010.</ref> Peru's main exports were copper, gold, zinc, textiles, and fish meal; its major trade partners were the United States, China, Brazil, and Chile.<ref>2006 figures. {{in lang|es}} Banco Central de Reserva, [http://www.bcrp.gob.pe/publicaciones/memoria-anual/memoria-2006.html ''Memoria 2006''] {{webarchive |url=https://web.archive.org/web/20160909090819/http://www.bcrp.gob.pe/publicaciones/memoria-anual/memoria-2006.html |date=9 September 2016}}, pp. 60–61. Retrieved 27 December 2010.</ref> 

Informal workers represent, in 2019, 70% of the labour market according to the National Institute of Statistics and Informatics (INEI). In 2016, almost three million children and adolescents worked in the informal sector.<ref>{{Cite web |url=https://www.inei.gob.pe/media/MenuRecursivo/publicaciones_digitales/Est/Lib1764/cap04.pdf |title=Capítulo 4 La Informalidad y la Fuerza de Trabajo |access-date=4 March 2023 |archive-date=24 March 2023 |archive-url=https://web.archive.org/web/20230324023357/https://www.inei.gob.pe/media/MenuRecursivo/publicaciones_digitales/Est/Lib1764/cap04.pdf |url-status=live}}</ref>

=== Mining ===
[[File:OperacionesYanacocha.jpg|thumb|Yanacocha Mine]]

The country is heavily dependent on [[mining]] for the export of raw materials, which represented 61.3% of exports in 2023.<ref name="pemining" /> In 2019, the country was the world's second largest producer of [[copper]]<ref>{{cite web |url-status=live |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-copper.pdf |publisher=USGS |title=Copper |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-copper.pdf |archive-date=9 October 2022 |work=Mineral Commodity Summaries |date=January 2021}}</ref> and [[zinc]],<ref>{{cite web |work=Mineral Commodity Summaries |date=January 2021 |url-status=live |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-zinc.pdf |publisher=USGS |title=Zinc |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-zinc.pdf |archive-date=9 October 2022}}</ref> eighth largest producer of [[gold]],<ref>{{cite web |work=Mineral Commodity Summaries |date=January 2021 |url-status=live |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gold.pdf |publisher=USGS |title=Gold |archive-url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gold.pdf |archive-date=9 October 2022}}</ref> third largest producer of [[lead]],<ref>{{cite web |work=Mineral Commodity Summaries |date=January 2021 |url-status=live |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-lead.pdf |publisher=USGS |title=Lead |archive-url=https://web.archive.org/web/20210515091715/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-lead.pdf |archive-date=15 May 2021}}</ref> the fourth largest producer of [[tin]],<ref>{{cite web |work=Mineral Commodity Summaries |date=January 2021 |url-status=live |url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-tin.pdf |publisher=USGS |title=Tin |archive-url=https://web.archive.org/web/20210813153917/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-tin.pdf |archive-date=13 August 2021}}</ref> the fifth largest producer of [[boron]],<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-boron.pdf USGS Boron Production Statistics] {{Webarchive|url=https://web.archive.org/web/20210718104325/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-boron.pdf |date=18 July 2021}} (PDF)</ref> and the fourth largest producer of [[molybdenum]]<ref>[https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-molybdenum.pdf USGS Molybdenum Production Statistics] {{Webarchive|url=https://ghostarchive.org/archive/20221009/https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-molybdenum.pdf |date=9 October 2022}} (PDF)</ref> – not to mention gas and of oil. In 2023, it was the third largest producer of silver globally.<ref>{{Cite web |title=USGS Silver Production Statistics |url=https://pubs.usgs.gov/periodicals/mcs2024/mcs2024.pdf |url-status=live |archive-url=https://web.archive.org/web/20241220035538/https://pubs.usgs.gov/periodicals/mcs2024/mcs2024.pdf |archive-date=December 20, 2024 |access-date=December 23, 2024}}</ref> The country has an expectant competitive position in global mining, maintaining mining leadership in Latin America and a solid mining history and trajectory little industrialized; Peru suffers from the international variation of commodity prices.<ref>{{Cite web|url=https://diplomatique.org.br/duas-opcoes-direita-ou-direita/|title=Duas opções: direita ou direita – Le Monde Diplomatique|website=diplomatique.org.br|date=6 June 2016|access-date=12 July 2022|archive-date=12 July 2022|archive-url=https://web.archive.org/web/20220712021704/https://diplomatique.org.br/duas-opcoes-direita-ou-direita/|url-status=live}}</ref>

The Yanacocha mine in [[Cajamarca]] is the main source of gold extraction in Peru. It is considered the largest gold mine in South America and the second largest in the world. In 2005, {{convert|3,333,088|oz|g}} of gold were produced. An indicator of mining growth can be seen in mining exports, having grown from US$1,447 million in 1990<ref>{{Cite web |date=31 December 1990 |title=II. SECTOR EXTERNO |url=https://www.bcrp.gob.pe/docs/Publicaciones/Memoria/1990/Memoria-BCRP-1990-2.pdf |access-date=13 August 2024 |website=bcrp.gob.pe |page=32 |language=es |archive-date=13 August 2024 |archive-url=https://web.archive.org/web/20240813231927/https://www.bcrp.gob.pe/docs/Publicaciones/Memoria/1990/Memoria-BCRP-1990-2.pdf |url-status=live }}</ref> to US$39,639 million in 2023.<ref name="pemining" />

=== Agriculture ===
[[File:Quinoa growing on Isla del Sol, Lake Titicaca.jpg|thumb|[[Quinoa]]]]
Peru is the world's largest producer of [[quinoa]] and [[maca]], one of the 5 largest producers of [[avocado]], [[blueberry]], [[artichoke]] and [[asparagus]], one of the 10 largest producers in the world of [[coffee]] and [[Cocoa bean|cocoa]], and one of the 15 largest producers in the world of [[potato]] and [[pineapple]], also having a considerable production of [[grape]], [[sugarcane]], [[rice]], [[banana]], [[maize]] and [[cassava]]; its agriculture is considerably diversified. In livestock, Peru is one of the 20 largest producers of [[chicken meat]] in the world.<ref>{{cite web| url = http://www.fao.org/faostat/es/#data/QCL/| title = Agriculture in Peru, by FAO| access-date = 12 July 2022| archive-date = 16 October 2020| archive-url = https://web.archive.org/web/20201016050347/http://www.fao.org/faostat/es/#data/QCL/| url-status = live}}</ref>

According to a report by the UN [[Food and Agriculture Organization]] (FAO) published in August 2022, half of Peru's population is moderately [[food insecure]] (16.6 million people), and more than 20% (6.8 million people), are severely food insecure: they go without food for a whole day, or even several days.<ref name="Atalayar" /><ref name="Chaparro-2023" />

The director of FAO Peru stresses that "this is the great paradox of a country that has enough food for its population. Peru is a net producer of food and one of the major agro-exporting powers in the region. Food insecurity is due to high [[social inequality]] and low wages, with Peru's minimum wage being one of the lowest in South America and a large informal sector. According to the FAO, the small farmers themselves suffer from hunger. Poorly paid, they also suffer from the impacts of [[climate change]] and face the problem of [[Drug Trafficking|drug trafficking]] on their land and mining activity that exhausts the soil."<ref name="Atalayar" /><ref name="Chaparro-2023" />

=== Tourism ===
{{Main|Tourism in Peru}}
[[File:Huacachina - Ica, Peru.jpg|left|thumb|[[Huacachina]], in [[Department of Ica|Ica]], the only natural oasis in South America]]
Tourism constitutes the third largest industry in Peru, behind fishing and mining. Tourism is mainly directed towards archaeological monuments, as it has more than one hundred thousand archaeological sites. According to a study by the Peruvian government, the satisfaction rate of tourists after visiting Peru is 94%. Peru has become one of the largest tourist destinations in the Americas and is the fastest growing industry in the country, growing annually at a rate of 25% over the last five years, the highest growth rate of any other country in South America.

Tourism has an impact of 7% of Peru's GDP, it is regulated and stimulated by the Commission for the Promotion of Peru for Exports and Tourism under the Ministry of Foreign Trade and Tourism. For this reason, in 2011 Marca Perú was created, which is an initiative of the Ministry of Foreign Trade and Tourism in association with Peruvian companies and startups to promote the purchase and consumption of products created in the country. The pillars of this initiative are: exports, tourism and investments. Tourism employs 11% of the country's economically active population (484 000 direct jobs and 340,000 indirect jobs), most of them in hospitality and transportation. Peru is known to be perfect for cultural, eco, adventure, gastronomic, beach, and luxury travel.
[[File:Choquequirao, July 18, 2007.jpg|thumb|[[Choquequirao]], Incan ruins in [[Department of Cusco|Cusco]]]]
The places most visited by tourists are the cities of [[Lima]] and its historic center, [[Cusco]], which is characterized by its [[Inca Empire|Inca]] and colonial architecture but its main attractions are the [[Sacred Valley|Sacred Valley of the Incas]] and [[Machu Picchu]]. Other famous places in Cusco include [[Qorikancha]], [[Ollantaytambo]], [[Písac]] and many more. [[Arequipa]] is also a large tourist destination, for the historic center, also for the [[Colca Canyon]] and finally [[Puno]] through [[Lake Titicaca]]. The main tourist circuit of the country is the southern circuit, which includes cities such as; [[Ica, Peru|Ica]], [[Nazca]], [[Pisco]], Paracas, [[Ayacucho]], [[Puerto Maldonado]] and others with architectural, cultural and natural attractions. The second most important route is the [[Callejón de Huaylas]], in the department of Áncash, headquarters of adventure tourism and the main point of reference for New Andean gastronomy. Peru has 14 [[World Heritage Site|World Heritage Sites]] and 11 national parks.

Peru has many other tourist routes. Among these are those of the [[Mantaro River|Mantaro River valley]] with the city of [[Huancayo]] as one of its axis, and the [[Tarma]] Valley as another axis, which in turn is the entrance to the central jungle and the northern city of [[Trujillo, Peru|Trujillo]] where [[Chan Chan]] is located, the largest adobe citadel in the world,  the traditional spa of [[Huanchaco]] and the Huacas del Sol and de la Luna belonging to the [[Chimú culture]]. [[Chiclayo]], [[Piura]] and the rainforest city [[Iquitos]] are also very popular destinations. According to the Ministry of Foreign Trade and Tourism, the visit of foreign tourists increased by 7% during 2015 and would have generated US$3.5 billion in foreign currency for the country.

=== Industry ===
The [[World Bank]] lists the top producing countries each year, based on the total value of production. According to the 2019 list, Peru has the 50th most valuable industry in the world ($28.7 billion).<ref>{{Cite web|url=https://data.worldbank.org/indicator/NV.IND.MANF.CD?most_recent_value_desc=true|title=Manufacturing, value added (current US$) &#124; Data|website=data.worldbank.org|access-date=12 July 2022|archive-date=7 January 2020|archive-url=https://web.archive.org/web/20200107135049/https://data.worldbank.org/indicator/NV.IND.MANF.CD?most_recent_value_desc=true|url-status=live}}</ref>

In 2011 and 2016 Peru was the world's largest supplier of [[fishmeal]].<ref>{{Cite web|url=https://gauchazh.clicrbs.com.br/geral/noticia/2016/07/peru-prepara-industria-pesqueira-para-enfrentar-mudanca-climatica-6567755.html|title=Peru prepara indústria pesqueira para enfrentar mudança climática|date=12 July 2016|website=GZH|access-date=12 July 2022|archive-date=12 July 2022|archive-url=https://web.archive.org/web/20220712035258/https://gauchazh.clicrbs.com.br/geral/noticia/2016/07/peru-prepara-industria-pesqueira-para-enfrentar-mudanca-climatica-6567755.html|url-status=live}}</ref> It is also the world's leading producer of alpaca wool, and the most important exporter of cotton textile garments in Latin America, and due to its natural wealth, it is an excellent place for the development of the polymer industry worldwide. The country is in a stage of economic growth and it is expected, in light of the agreements and treaties signed in free trade areas, to become one of the most attractive South American nations for developing business.