Introduction: Columbia and Peru Coursework

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Introduction: Columbia and Peru
Peru has been experiencing slow economic performance over the last few years and experts predict the economy will continue to recover in 2018 and 2019. Conversely, Columbia has experienced stable economic growth although full recovery has been affected by fluctuations in export prices. Both countries depend on oil as one of the main export commodities although both countries have diversified their exports. In Peru, the GDP growth in 2017 was 2.5% but it was affected by a decline in natural gas and manufacturing outputs. The IMF predicted GDP growth in 2018 and 2019 to be 3.5% and 3.8% respectively (Belapatiño, et al 3). When anchoveta fishing was suspended in 2017 and lifted in 2018, it resulted in a general contraction in processing and extraction of natural resources. However, even with this temporary dip, evidence indicates that growth has been motivated by an increase in domestic demand and a boom in the production of copper even as exports decline. It is predicted that the met...