By Rosemary Thorp
Peru 1890-1977: progress and coverage in an Open economic system [Hardcover] [Oct 15, 1978] Rosemary Thorp and Geoffrey Bertram ...
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Additional info for Peru 1890–1977: Growth and Policy in an Open Economy
Sample text
In this year the statistics gave no production figure for the Sierra; an estimate of 4,500 tons has therefore been interpolated on the basis of 1912 and 1922 data, and the total eroduction adjusted accordingly. lncludiqg the category 'other Coast', comprising Piura, one Lambayeque property, and Camana (this last is in the South, but of very small weight). c Including some small coastal properties not providing detailed information. Sources: 1894 is from Garland (1895). 1912 onwards is from the annual official statistics published in Estadistica de Produccibn de Azucar, and reproduced in the following sources from which the figures were taken: 1912 from Scott (1972) p.
The rise of mineral exports, which became especially pronounced in the 1920s, therefore implied the rise of foreign capital, while export sectors owned by local firms went into first a relative and then an absolute decline during the 1920s. The surplus generated in export production became increasingly concentrated in foreign rather than local hands, at the same time as the regional focus of the economy became narrower. The sugar, cotton, wool and rubber sectors, which played leading roles in export growth up to the late 191 Os but then dropped behind, form the subjects of the present chapter.
This produced an initial recession (due to the impact of falling prices on the silver-mining industry and the economy's import capacity),S but in the longer run boosted the profits of most export producers and also oflocal import-competing industry. 1 CIF value of eight main export products (Sugar, cotton, wool, alpaca, coffee, silver, copper and rubber), 1880-1910 (thousands of pounds sterling) CJF Value 1880 1881 1882 1883 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895 1,943 1,652 1,697 1,421 1,808 1,672 1,641 1,551 1,849 2,046 1,781 1,909 2,120 1,968 1,532 1,663 C/F Value 1896 1897 1898 1899 1900 1901 1902 1903 1904 1905 1906 1907 1908 1909 1910 2,091 2,477 2,812 3,302 3,892 3,571 2,883 3,527 3,996 4,175 4,659 5,278 4,462 5,023 6,231 Source: Appendix I.