Peru Economy In The Mid-1800s

Satisfactory Essays
3) In the mid-1800s, Peru's economy revolved around natural fertilizer which they called guano. Guano was the gold of the time, it would grow crops in almost any soil. Guano was in high demand, as it was the best fertilizer at the time. It had the perfect combination of nutrients and had plentiful supply of nitrogen and phosphorus. Peru was flourishing but their economy ran solely on guano. Guano was being devoured and it would soon run out. After Peru ran out of guano, the country collapsed.

Another country that resembles this heavy reliance on a specific resource is Venezuela. Venezuela is a large oil exporter, but 95% of the country’s income is from oil exports. They have the largest oil supply in the world, but the country still suffers
Get Access