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Best Bitcoin Card for Peru

The Republic of Peru is the third largest country in South America, with an area of 1 285 216 km² it is more than twice the size of France. It borders Ecuador to the north, Colombia to the northeast, Brazil to the east, Bolivia to the southeast, Chile to the south and the Pacific Ocean to the west. Peru is divided into three major landscapes: Coastal strip (Costa), central Andes region (Sierra) and the eastern bordering lowland of the Amazon.

The Pacific coast of Peru is about 2,300 km long and occupies about 10% of the total national territory. In the northern area it is up to 160 km wide, in the south it narrows to just under 30 km. It is a desert and steppe landscape crossed by more than 50 rivers that flow from the Andes into the Pacific Ocean.

The Andes region consists of three mountain ranges that run roughly parallel to the coast: In the western cordillera, which forms the continental watershed between the Pacific Ocean and the Atlantic Ocean, there is the highest mountain in Peru, Huascarán, at 6,768 metres. The volcanic peaks Yerupaja and Coropuna are almost the same height. Separated by the depression of the Río Marañon, the mountain ranges of the Central Cordillera and the Eastern Cordillera rise further south. At an altitude of 3 812 m, Lake Titicaca lies in this area, the south-eastern part of which belongs to the neighbouring country of Bolivia. In total, the Andes region occupies about a quarter of Peru’s surface area.

The two large rivers Río Marañon and Río Ucayali unite (with numerous other smaller rivers) in the north-eastern lowlands to form the Amazon. The eastern Andes chains are connected to the heavily forested and mountainous forest land (Montaña, up to about 3,500 m altitude). The Amazon lowlands and Montaña occupy about two thirds of the land area. The capital Lima lies on the Pacific coast.

Political System

According to the constitution of 1993, Peru is a presidential republic. Head of state and holder of the executive branch with far-reaching powers is the president (since July 2011 Ollanta Humala), who is directly elected for five years (no direct re-election possible). The president is the commander-in-chief of the armed forces, appoints the prime minister (since February 2014 René Cornejo), who has no executive powers, and the cabinet, and can dissolve parliament.

The Parliament (Congreso) consists of a chamber of 130 deputies elected for a five-year term. Peru is divided into 24 districts (Departementos) and the administrative district Callao.

Economy

Peru has been showing clear macroeconomic success for years. Following a slowdown in economic growth caused by the global financial and economic crisis, the economic upswing is continuing in 2009 (GDP growth in 2012: 6.3 %). This puts Peru among the leaders in Latin America. However, this does not solve the biggest problems of the Andean country: a high number of unemployed and underemployed people, especially in rural areas, as well as the great poverty of the population. Peru’s informal sector is highly developed, and an important component of the shadow economy is the coca bush. Peru is now the world leader in coca cultivation, ahead of Colombia and Bolivia.

Only 1% of the working population is still employed in agriculture, which accounts for 6% of the gross domestic product (GDP). Agricultural land is mainly found in the river oases in the coastal region (cotton, rice, sugar cane, fruit) and in the Andean highlands: coffee, potatoes, maize and cereals are the main crops grown on terraces. The highlands are also the focus of cattle breeding (llamas, alpacas, sheep, goats, cattle). Coffee and cotton are important export goods. Fishing is also an important part of the economy, as the Humboldt Current, which is rich in plankton, provides a wealth of fish off the coast. In good fishing years, Peru’s fish meal production is the largest in the world. In forestry, the extraction of rubber and quinine (from the cinchona bark tree) is of particular importance.

Peru is rich in mineral resources and their exploitation is one of the most important branches of the economy. The export of copper, gold, zinc, lead, silver and oil accounts for about half of the country’s export revenues. Oil deposits are mainly found on the north-west coast and in the Amazon lowlands. Industry accounts for 38% of GDP, the main sectors being food processing and textiles, steel and chemicals. Over 70% of the country’s energy needs are covered by hydropower.

The main trading partners for exports (raw materials, food, non-ferrous metals, oil, textiles) and imports are the USA, China, the EU countries and the Andean countries. The main imports are oil, machinery, transport equipment, food, chemicals and pharmaceuticals.

The infrastructure is poorly developed due to the difficult natural conditions. There are about 73 000 km of roads available. The most important north-south link with a length of around 3 400 km is the Panamerican Highway, the most important inland link is the Carretera Central from Lima. The railway network covers almost 2,300 km and consists of several independent sections. Lima has an international airport. The currency is the New Sol.

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