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Peru

Peru's economy in 2025 is showing steady growth driven by a combination of favorable external conditions and domestic resilience. The country's GDP is expected to expand by about 3.1%, underpinned by strong terms of trade, especially in mineral exports, and increasing business confidence. Mining remains a cornerstone of the Peruvian economy, accounting for a significant share of export revenues and attracting substantial foreign direct investment. Alongside mining, infrastructure development and construction are key growth sectors, supported by government and private sector investment, contributing to job creation and economic diversification.

The services sector dominates Peru's economy, constituting roughly 60% of GDP, with retail, telecommunications, finance, and tourism playing vital roles. Manufacturing and agriculture also contribute meaningfully, benefiting from growing domestic demand and integration into global value chains. Inflation is well managed and remains within the central bank's target range, reflecting prudent monetary policies that maintain price stability while supporting economic growth.

Business in Peru benefits from an improving regulatory environment focused on streamlining administrative procedures, simplifying tax regulations, and fostering innovation. Efforts to enhance productivity and competitiveness include promoting digital transformation and reducing barriers for startups and small to medium enterprises. The country's open trade regime and various free trade agreements provide businesses with access to international markets, reinforcing Peru's role as an important player in regional and global trade.

Despite positive trends, challenges persist, including the need to reduce fiscal deficits and enhance fiscal sustainability. Structural reforms aimed at improving institutional quality, strengthening the rule of law, and addressing regional inequalities remain priorities to sustain long-term growth. Peru's financial sector is robust, with sound banking institutions supporting credit growth and investment.

Looking ahead, Peru's economic outlook is favorable but contingent on continued global demand for minerals, stability in commodity prices, and success in implementing reforms that foster inclusive and sustainable development. The focus on infrastructure, innovation, and skills development positions Peru to capitalize on emerging opportunities while addressing vulnerabilities, making it an attractive destination for investment and business growth in the Latin American region.

Payment methods in Peru: