rson (New Jersey), San Francisco

Diplomatic representation from the US: chief of mission: Ambassador
John HAMILTON

embassy: Avenida La Encalada, Cuadra 17s/n, Surco, Lima 33

mailing address: P. O. Box 1995, Lima 1; American Embassy (Lima),
APO AA 34031-5000

telephone: [51] (1) 434-3000

FAX: [51] (1) 434-3037

Flag description: three equal, vertical bands of red (hoist side),
white, and red with the coat of arms centered in the white band; the
coat of arms features a shield bearing a llama, cinchona tree (the
source of quinine), and a yellow cornucopia spilling out gold coins,
all framed by a green wreath

Peru Economy

Economy - overview: The Peruvian economy has become increasingly
market-oriented, with major privatizations completed since 1990 in
the mining, electricity, and telecommunications industries. Thanks
to strong foreign investment and the cooperation between the
FUJIMORI government and the IMF and World Bank, growth was strong in
1994-97 and inflation was brought under control. In 1998, El Nino's
impact on agriculture, the financial crisis in Asia, and instability
in Brazilian markets undercut growth. And 1999 was another lean year
for Peru, with the aftermath of El Nino and the Asian financial
crisis working its way through the economy. Political instability
resulting from the presidential election and FUJIMORI's subsequent
departure from office limited economic growth in 2000.

GDP: purchasing power parity - $123 billion (2000 est.)

GDP - real growth rate: 3.6% (2000 est.)

GDP - per capita: purchasing power parity - $4,550 (2000 est.)

GDP - composition by sector: agriculture: 15%

industry: 42%

services: 43% (1999)

Population below poverty line: 49% (1994 est.)

Household income or consumption by percentage share: lowest 10%:
1.9%

highest 10%: 34.3% (1994)

Inflation rate (consumer prices): 3.7% (2000 est.)

Labor force: 7.6 million (1996 est.)

Labor force - by occupation: agriculture, mining and quarrying,
manufacturing, construction, transport, services

Unemployment rate: 7.7%; extensive underemployment (1997)

Budget: revenues: $8.5 billion

expenditures: $9.3 billion, including capital expenditures of $2
billion (1996 est.)

Industries: mining of metals, petroleum, fishing, textiles,
clothing, food processing, cement, auto assembly, steel,
shipbuilding, metal fabrication

Industrial production growth rate: 8.5% (2000 est.)

Electricity