Don't Ignore These Emerging Markets
The Former Inca Empire
Much of Latin America's economic history has been tumultuous and Peru is no exception. Both the 1980s and 1990s saw periods of violence, drug trafficking and high inflation. However, after a succession of fiscally responsible, pro-business governments, Peru has moved forward. Since 2003, the economy has grown at an average rate of 6.6% per year.
Like both Indonesia and Poland, exports dominate in Peru. The country has seen increasing revenues for its products, as it's a leading producer of gold, copper, lead and zinc, and the prices of these commodities have risen exponentially over the last few years. Moody's recent debt upgrade for Peruvian bonds to investment grade has also helped increase foreign investment.
With many developed markets suffering from low growth over the last decade or so, investors have flocked to emerging markets in spades. While much of that attention has gone towards the BRIC nations, there are plenty of other emerging market opportunities that also warrant investor attention.
Aaron Levitt can be contacted at Aaron Levitt