Despite our view for real GDP growth to slow over the medium term, significant commodity wealth, attractive investment opportunities at the sector level and an emerging consumer story underpin our view that Peru will remain one of the most dynamic economies in Latin America in the coming years. Nevertheless, BMI cautions that Peru’s heavy reliance on commodity exports will weigh on the country’s shipping sector, with a potential hard landing in China having the ability to cap price and demand for base metals, leaving ports with less dry bulk volumes to handle. Underdeveloped infrastructure, capacity constraints, declines in major mining …
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