Like many resource-rich countries, Peru's (NYSEARCA:EPU) economy has traditionally been based on an export-driven growth model. Minerals and ores make up around half the country's exports, with agricultural products comprising 20%-25%. Oil's recent decline has bled into other commodities and contributed to the slowdown in Peru's exports. As displayed below, over the past year, month-to-month balance of payments data has been negative for a country that has conventionally been so reliant on exports to buoy economic growth.
Despite the challenges, Peru remains one of Latin America's fastest growing economies, even if the 10% growth seen before and after the financial crisis remains permanently elusive. The country also maintains investment-grade credit ratings from all three agencies (BBB+ from Fitch and S&P, A2 from Moody's - source: Morningstar). The country's April 2016 presidential election also ushered in an administration committed to pro-growth economic policies, with Pedro Pablo Kuczynski (an
