Integration Processes and the Economy of Peru: Current Trends

The paper aims to identify the impact of the results of economic integration on the economy of Peru. The authors used a comprehensive economic analysis of world economic relations and an analysis of commodity flows in Latin America. The authors revealed the role of integration associations in the economic development of today’s countries and assessed the contribution of certain integration blocs and their role in the development of Latin American countries, including Peru. It is concluded that the most effective integration blocs in the Latin American region today are MERCOSUR, CELAC, and the Pacific Alliance, the latter of which has the greatest potential. As a result of the research, it was revealed that Peru’s participation in several regional and supranational integration associations expanded the country’s presence in the global space and improved foreign trade performance, including with a number of countries of the Andean Community and APEC. Free trade agreements with China, the EU, and the USA have proved to be mutually beneficial and brought the expected results. During the analysis, the authors concluded that promising areas in the integration processes for Peru include the continued participation in the Andean Community to strengthen foreign economic relations with neighboring countries, the participation in the Pacific Alliance and APEC to expand its presence in the world, and strengthening economic relations with China as a key trading partner. © The Author(s), under exclusive license to Springer Nature Switzerland AG 2023.