A Few Practical Tips for Doing Business in Peru
Punctuality is respected and expected.
Make small talk before starting a meeting.
Peruvians speak very little English. Most English speakers are in Lima.
Learn some Spanish phrases.
Avoid topics such as politics and religion.
Understand Peru's history.
Peruvians are proud of their culture.
In Peru’s business culture, respect depends primarily on status, rank, education, personal relationships and age.
Business structures are hierarchical with decision making done from the top.
Traffic in Lima is very bad.
Peru is a modest country: religion, beliefs, and traditions mean people mostly cover their body when they go out in public.
1533 - The Spanish conquistadores defeated the Inca Indian Empire.
1821 - Peru declared its independence.
1824 - 1884 - Remaining Spanish forces were defeated and territorial disputes erupted.
1884 - 1930 - Reconstruction
1930 - 1979 - Alternation between democracy and military rule
1979 - Present - Civilian rule restoration and elections
Western South America, bordering on the South Pacific Ocean. It is located between Chile and Ecuador. Bordering countries are Bolivia, Brazil, Chile, Colombia and Ecuador.
Government: Presidential Republic
Capital City: Lima
Literacy Rate: 94.5%
Size: Almost twice the size of Texas
Population Growth: 0.51% (2022 est.)
Population Distribution: 1/3 of population along the desert coastal belt in the west, with a strong focus on Lima. 1/2 of population is in the Andean Mountain highlands.
The rainforest adjoining the mountains is sparsely populated.
Peru is a country with many resources - minerals, fishery and agricultural land and forests. It has Latin America's largest reserves of gold, lead and zinc. Peru also is the world's second largest producer of silver and copper. It also has large reserves of oil and natural gas as well as abundant forestry reserves. Their fishing grounds provide an abundant and varied supply of seafood. Their agricultural production includes asparagus, blueberries, table grapes, avocados, organic bananas and paprika.
Unemployment Rate: 6.8% (2022)
Currency Exchange Rate: 1 US Dollar = 3.87 Peruvian Sol (9/20/22]
GDP: $371.3B (2020 est.)
GDP Growth Rate: 2.18% (2019 est.)
Labor Force: 3.42M (2020 est.)
Labor Force Breakdown: Agriculture - 25.8%, Industry - 17.4%, Services - 56.8% (2011)
Major Industries: Mining, steel, metal fabrication, petroleum extraction & refining, natural gas extraction and liquefaction, fishing, food processing, beverages, chemicals, machinery, furniture, forestry.
Total Product Exports (2021) - $56.3B
Major Product Exports (2021)
Ores, slag, ash - $21.5B
Gems, precious metals - $8.1B
Fruits, nuts - $4.7B
Mineral fuels, including oil - $3.9B
Copper - $3B
Food industry waste, animal fodder - $2B
Fish - $1.2B
Knit or crochet clothing accessories - $1.1B
Coffee, tea, spices - $970.9M
Tin - $859.7M
Major Product Export Partners (2021)
US - 12.8%
South Korea - 5%
Japan - 4.98%
Canada - 4.94%
India - 4.87%
Switzerland - 3.44%
Netherlands - 3.36%
Chile - 3%
Spain - 2.6%
UK - 2.3%
Germany - 1.9%
Total Product Imports (2020) - $34.7B
Major Product Imports (2020)
Refined Petroleum - $2.18B
Broadcasting Equipment - $1.08B
Computers - $833M
Cars - $828M
Crude Petroleum - $752M
Major Import Partners (2020)
China - $ 9.91B
US - $6.82B
Brazil - $1.77B
Chile - $1.46B
Argentina - $1.41B
English Language Online News Resources
Peruvian Times - general news - www.peruviantimes.com
Sampling of companies
Volcan - mining (silver, zinc) and hydroelectric power plants - www.volcan.com.pe - Lima
Agroindustrial Casa Grande - agribusiness- farming, processing, industrialization and sale of sugar cane - www.coazucar.com - Lima
Alicorp - food and beverages - www.alicorp.com.pe - Lima
Empresa Agroindustrial Pomaka - agribusiness-sugar, molasses, etc. - www.pomaka.com.pe - Chiclayo
SIDERPERU- steel products - www.siderperu.com.pe - Chimbote (Note: Owned by Brazilian company – GERDAU)
Petroperu - oil & gas exploration and production - www.petroperu.com - Lima
Grana y Montero S.A.A. - engineering, construction & real estate – www.granaymontero.com.pe Montero - Lima
Minsur - mining of tin and copper - www.minsur.com - Lima
Maple Energy - oil & gas production - www.maple-energy.com - Lima
Modasa - bus manufacturing - www.modasa.com.pe - Lima
Enrique Cassinelli and Sons - soft drinks and juices - www.enriquecassinelli.com.pe - Trujillo
Andahuasi - food processing - sugar, milk, molasses and beef - www.andahuasi.com - Lima
Backus and Johnston Brewery – brewers - www.backus.pe - Lima
Cementos Pacasmayo - building materials & fixtures – www.cementosypacas.com.pe - Lima
Compania Minera Milpo – mining - www.milpo.com.pe - Lima
Compania Nacional de Chocolates de Peru S.A .- chocolates - www.chocolates.com.pe - Lima
Dunkelvolk - sports apparel - www.dunkelvolk.com - Lima
Ferreyros - industrial machinery - www.ferreyros.com - Lima
January 1- New Year's Day
April 14 - Maundy Thursday
April 15 - Good Friday
April 17 - Easter
June 29 - St. Peter & Paul
July 28 and July 29 - Independence Day (2 days)
August 30 - Santa Rosa De Lima
October 8 - Battle of Angamos
November 1 - All Saints Day
December 8 - Feast of Immaculate Conception
December 25 - Christmas Day
December 26 – Christmas
By Paul Mastilak