Importance of agriculture to the economy
Agriculture is important to the economy, although it accounted for only 13.2% of the GDP in 1992, representing a steady decline over the years. About 33% of the labour force is employed in agriculture. The principal cash crop is coffee, which accounted for 2% of export earnings in 1992. Fishing is also significant, with fishmeal accounting for 12.6% of export earnings in 1992. The main food crops are rice, maize and potatoes. Peru is dependent on imports of cereals and food aid to meets its basic food needs. The country has adopted economic stabilization and structural adjustment programmes to control hyperinflation, realign prices and reduce the fiscal deficit. Recent government measures for the agricultural sector include: elimination of controls on food prices, inputs and interest rates; legal, institutional and market reforms, including the elimination of state agricultural marketing enterprises and the Agrarian Bank; and the liberalization of the land market.
Sectoral Contributions to GDP and Employment, 1991
Source: Europa World Yearbook, 1994
