Peru has been among the fastest growing economies in South America for 15 years with annual growth rates averaging 6% (GDP grew fourfold between 2000-2015), although it has slowed to circa 4% in the last years due to lower international demand and prices of raw material.
Peru is an interesting export market for Sweden and the current level of exported goods (mainly B2B) has the potential to increase significantly. Peru’s relatively young population of 31 million inhabitants also provides a large addressable consumer market. Business Sweden covers Peru by a team of advisors based in Chile with good market knowledge and hands-on experience of developing Swedish companies in Peru. Currently there are 70+ Swedish companies active in Peru.
2021 marks the 200-year anniversary of Peru’s independence. The new government led by President Pedro Pablo Kuczynski (PKK) has stated that Peru shall be a full OECD member by then. The government therefore wants to attract private or public-private investment, which will contribute to higher growth and resolve structural bottlenecks (education, infrastructure, the informal economy and low productivity).
In Business Sweden’s “Business Climate Survey”, it was concluded that 100% of the Swedish companies who responded to the survey consider that the business and investment climate will remain stable or improve during the next three years, with 1 in 4 companies forecasting a considerably more favourable environment by 2018/19.
As part of the re-opening of the Swedish Embassy in Lima, Business Sweden arranged a Team Sweden delegation led by European Affairs and Trade Minister Ann Linde. In conjunction, Business Sweden published a brief market guide to Peru that is downloadable here.