Peru Tenders

Get access to latest Peru tenders and bids. Find business opportunities and business intelligence from public and private procurement in Peru. Find international bid invitations and information about tenders, bids, procurement, RFPs, RFQs, ICBs and detailed analysis across all sectors from Peru.

The economy of Peru is an emerging, social market 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.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. Poverty specifically has decreased significantly – from nearly 60% in 2004 to 20.5% in 2018. Inflation in 2012 was the lowest in Latin America at 1.8%, with the most recent annual rate standing at 1.9% in 2020. Peruvian economic performance has been tied to exports, which provide hard currency to finance imports and external debt payments. Peru's main exports are copper, gold, zinc, textiles, chemicals, pharmaceuticals, manufactures, machinery, services and fish meal. The country's major trade partners are the United States, China, Brazil, the European Union and Chile. Although exports have provided substantial revenue, self-sustained growth and a more egalitarian distribution of income have proven elusive. Services account for 59.9% of Peruvian gross domestic product, followed by industry (32.7%) and agriculture (7.6%). Recent economic growth has been fueled by macroeconomic stability, improved terms of trade, as well as rising investment and consumption.