The economy of Peru is an emerging, mixed economy characterized by a high level of foreign trade and an upper middle income economy as classified by the World Bank. Peru has the forty-seventh largest economy in the world by total GDP and currently experiences a high human development index. The country was one of the world's fastest-growing economies in 2012, with a GDP growth rate of 6.3%. The economy was expected to increase 9.3% in 2021, in a rebound from the COVID-19 pandemic in Peru. Peru has signed a number of free trade agreements with its main trade partners. China became the nation's largest trading partner following the China–Peru Free Trade Agreement signed on 28 April 2009. Additional free trade agreements have been signed with the United States in 2006, Japan in 2011 and the European Union in 2012. Trade and industry are centralized in Lima while agricultural exports have led to regional development within the nation.
The economy of Spain is a highly developed social market economy. It’s the world's 15th largest by nominal GDP and the sixth-largest in Europe. Spain is a member of the European Union and the eurozone, as well as the Organization for Economic Co-operation and Development and the World Trade Organization. In 2021, Spain was the twentieth-largest exporter in the world and the sixteenth-largest importer. Spain is listed 27th in the United Nations Human Development Index and 37th in GDP per capita by the World Bank. Some of the main areas of economic activity are the automotive industry, medical technology, chemicals, shipbuilding, tourism and the textile industry.
Lima is the capital and largest city of Peru. It is located in the valleys of the Chillón, Rímac and Lurín Rivers, in the desert zone of the central coastal part of the country, overlooking the Pacific Ocean. The city is considered the political, cultural, financial and commercial center of Peru. Due to its geostrategic importance, the Globalization and World Cities Research Network has categorized it as a "beta" tier city. Jurisdictionally, the metropolis extends mainly within the province of Lima and in a smaller portion, to the west, within the Constitutional Province of Callao, where the seaport and the Jorge Chávez Airport are located. Both provinces have regional autonomy since 2002.
A central business district (CBD) is the commercial and business centre of a city. It contains commercial space and offices, and in larger cities will often be described as a financial district. Geographically, it often coincides with the "city centre" or "downtown". However, these concepts are not necessarily synonymous: many cities have a central business district located away from its commercial and or cultural center and or downtown/city center, and there may be multiple CBDs within a single urban area. The CBD will often be characterized by a high degree of accessibility as well as a large variety and concentration of specialised goods and services compared to other parts of the city.
Peru, officially the Republic of Peru, is a country in western South America. It is bordered in the north by Ecuador and Colombia, in the east by Brazil, in the southeast by Bolivia, in the south by Chile, and in the south and west by the Pacific Ocean. Peru is a megadiverse country with habitats ranging from the arid plains of the Pacific coastal region in the west to the peaks of the Andes mountains extending from the north to the southeast of the country to the tropical Amazon basin rainforest in the east with the Amazon River. Peru has a population of over 32 million, and its capital and largest city is Lima. At 1,285,216 km2, Peru is the 19th largest country in the world, and the third largest in South America.
The Andean Community is a free trade area with the objective of creating a customs union comprising the South American countries of Bolivia, Colombia, Ecuador, and Peru. The trade bloc was called the Andean Pact until 1996 and came into existence when the Cartagena Agreement was signed in 1969. Its headquarters are in Lima, Peru.
The Union of South American Nations (USAN), sometimes also referred to as the South American Union, abbreviated in Spanish as UNASUR and in Portuguese as UNASUL, is an intergovernmental regional organization set up by Hugo Chavez to counteract the influence of the United States in the region. It once comprised twelve South American countries; as of 2019, most have withdrawn.
The Central Reserve Bank of Peru is the Peruvian central bank. It mints and issues metal and paper money, the sol.
The Central Bank of the Argentine Republic is the central bank of Argentina, being an autarchic entity.
Banco Santander, S.A., doing business as Santander Group, is a Spanish multinational financial services company based in Madrid and Santander in Spain. Additionally, Santander maintains a presence in all global financial centres as the 19th-largest banking institution in the world. Although known for its European banking operations, it has extended operations across North and South America, and more recently in continental Asia. It is considered a systemically important bank by the Financial Stability Board.
The sol is the currency of Peru; it is subdivided into 100 céntimos ("cents"). The ISO 4217 currency code is PEN.
The Big Four is the colloquial name given to the four main banks in several countries where the banking industry is dominated by just four institutions and where the phrase has thus gained relevance. Some countries include more or fewer institutions in such rankings, leading to other names such as Big Three, Big Five, or Big Six.
The industries of the economy of Peru arose in response to the country's rich natural resources. During the regime of the Inca Empire, the economy was centrally planned, and labour was mandatory. Spanish explorers held the Incan system in much regard.
The China–Peru Free Trade Agreement is a bilateral free trade agreement designed to eliminate obstacles to trade and investment between China and Peru. The two sides concluded talks in November 2008 and signed the agreement in April 2009. The agreement was officially ratified by both countries governments on December 6, 2009, and came into effect on March 1, 2010.
Banco de Crédito del Perú is the largest bank and the largest supplier of integrated financial services in Perú with approximately US$39 billion in total assets and a market share of 30.4% in total loans and 33.5% in total deposits.
Banco Bilbao Vizcaya Argentaria, S.A., better known by its initialism BBVA, is a Spanish multinational financial services company based in Madrid and Bilbao, Spain. It is one of the largest financial institutions in the world, and is present mainly in Spain, Portugal, Mexico, South America, Turkey, Italy and Romania.
Francisco Tudela y Varela was a French-born Peruvian diplomat, lawyer and politician. He was born in Paris, France. He graduated from the National University of San Marcos and served on its faculty. He was a member of the Civilista Party. He was Minister of Finance and foreign minister in the Government of Peru. He was 68th Prime Minister of Peru under President José Pardo y Barreda. He served as ambassador of Peru to Spain and the United States (1918–1919), and later to the Netherlands (1936). He served as President of the Chamber of Deputies (1915–1916). He served as mayor of Lima.
Grupo Breca, also known as Grupo Brescia, is a Peruvian business conglomerate founded more than 130 years ago with operations in Peru and other countries in Latin America. Fortunato Brescia and his wife, Mrs. María Catalina Cafferata, are the group's founders. Their last names Brescia and Cafferata gave rise to the "Breca" brand, which reflects the memory of its founders.
