Peru

Despite the global downturn and the uncertainty created by contentious national elections, Peru’s economy grew by 6.9 percent in 2011, lower than the eight percent growth achieved in 2010, but a respectable rate given global and domestic circumstances. Peruvian exports in 2011 grew by 30 percent to $46.3 billion. The U.S.-Peru trade relationship has benefited from trade liberalization agreements such as the U.S.-Peru Trade Promotion Agreement, entered into force in 2009. In 2011, the U.S. goods exports to Peru totaled $8.3 billion, a 23.4% increase over 2010, and the two-way trade in 2011 reached $14.9 billion.

 

Priority Sectors

Industry sectors identified so far as priorities for U.S. and Peruvian industry include textiles; processed food and drink and nutritional labeling; cosmetics; medical devices and pharmaceuticals; and electrical appliances. Additional sectors may be added based on interest from the private sector in either country.

 

Relevant Agreements and Regional Organizations

• WTO Agreement on Technical Barriers to Trade
• United States - Peru Trade Promotion Agreement
• Trans-Pacific Partnership
• Asia Pacific Economic Cooperation – Subcommittee on Standards and Conformance
• Pan American Standards Commission (COPANT)
• Pacific Area Standards Congress (PASC)
• Inter-American Accreditation Cooperation (IAAC)
• Inter-American Metrology System (SIM)

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Additional information

• White House Fact Sheet: U.S.-Peru Economic Relations
• CIA World Factbook: Peru