Peru

E

Energy

In the mid-1990s Peru had an installed electricity-generating capacity of approximately 4.1 million kW, and annual output was approximately 11.2 billion kWh. About 81 per cent of the total electricity produced was generated in hydroelectric facilities (2003). About 68 per cent of the population was supplied with electricity by early 1997. With funds from the Japanese government, Peru initiated a programme to develop the energy sector, in particular to exploit its hydrocarbon and natural gas deposits at Camisea.

F

Currency and Banking

The monetary unit of Peru is the nuevo sol (new sol) of 100 céntimos (3.03 new sols equalled US$1; early 2008). The Banco Central de Reserva del Perú (1922) is the central bank and bank of issue. All private domestic banks were nationalized in 1987, although legislation in 1991 allowed banks to set their own interest rates.

G

Commerce and Trade

Exports are more diversified in Peru than in most South American countries. The principal exports are oil, copper, gold, lead, clothing, fishmeal, and zinc. The chief export markets are the United States, Japan, Germany, Brazil, China, Italy, the Netherlands, and the United Kingdom. Exports earned about US$12,435 million in 2004. The leading imports of Peru include machinery, basic manufactures, foodstuffs, chemicals, and transport equipment. The principal sources of these goods are the United States, Japan, Argentina, Germany, and Brazil. Imports cost about US$10,101 million in 2004.

H

Labour

About 1 per cent of Peru’s workforce is engaged in agriculture. The next largest sectors are services and government, manufacturing, commerce, and construction. About 2 million workers belong to trade unions. The main labour group is the General Confederation of Peruvian Workers.

I

Transport

Peru’s system of railways, roads, and airports has been expanded considerably since World War II. The country’s mountains make surface transport difficult, however. In 2004 Peru had about 78,829 km (48,982 mi) of roads, of which 14 per cent was paved. The main artery is a section of the Pan-American Highway, which traverses Peru from Ecuador to Chile, covering a distance of about 2,495 km (1,550 mi). The Trans-Andean Highway links Lima and Pucallpa. In 2004 there was a ratio of 47 motor vehicles per 1,000 people. Peru also has about 2,177 km (1,353 mi) of railways. One trans-Andean line, the Callao-Huancayo, ascends to about 4,815 m (15,800 ft) above sea level, which is the highest point reached by any standard-gauge line in the world. The most notable inland waterway is the Amazon River, which is navigable by ship from the Atlantic Ocean to Iquitos in Peru. Lake Titicaca also serves as a waterway. Leading Peruvian seaports include Callao, Salaverry, Pacasmayo, Paita, and San Juan. Jorge Chávez International Airport is located near Lima. The country’s other main airports are situated near Cuzco, Iquitos, and Arequipa. Aeroperú, the national airline, offers domestic and international services.