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Flag & Social Economics

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Self-Drawn Flag

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Flag Explanation

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The Peruvian flag has three equal, vertical bands of red (hoist side), white, and red with the coat of arms centered in the white band; the coat of arms features a shield bearing a vicuna (representing fauna), a cinchona tree (the source of quinine, signifying flora), and a yellow cornucopia spilling out coins (denoting mineral wealth); red recalls blood shed for independence, white symbolizes peace.

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Economy Paragraph

Peru has a small economy, but it is constantly growing and evolving. The GDP per capita of Peru is $15, 300 (2023 est). This is higher than some of its bordering countries, such as Ecuador and Bolivia. It is lower than Chile, Brazil, and Colombia, however. Some of its major exports include copper ore, gold, natural gas, refined copper, and refined petroleum (2022 est). Some materials that it imports are refined petroleum, crude petroleum, cars, broadcasting equipment, and trucks (2022 est). Some major global companies present in Peru are Microsoft, Google, Procter & Gamble, and Teleperformance. Peru’s main industries are mining, agriculture, tourism, and manufacturing. One US dollar is worth 3.72 Sol (Peruvian currency). The Sol has weakened over time against the US dollar. Peru has a rapidly growing economy, however. This has made it an upper-middle-income economy, which is expected to grow more if a few improvements are implemented into society. To ensure that a greater trajectory is possible, Peru must improve public services, improve government efficiency, foster better business environments, promote a more stable political system, and deal with pending climate shock issues. It also must provide better jobs, as well as removing gender based differences in labor workplaces. The economy of Peru is powerful and has established Peru as a country full of potential.

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