Peru’s economy reflects its varied topography – an arid lowland coastal region, the central high sierra of the Andes, and the dense forest of the Amazon. A wide range of important mineral resources are found in the mountainous and coastal areas, and Peru’s coastal waters provide excellent fishing grounds. Peru is the world’s second largest producer of silver and copper. Peru’s rapid expansion in the last few years has helped to reduce the national poverty rate by over 35 percentage points since 2004, but inequality persists and continued to pose a challenge. Poor infrastructure hinders the spread of growth to Peru’s non-coastal areas. Mining output increased significantly in 2016-17, which helped Peru attain one of the highest GDP growth rates in Latin America. However, economic performance was depressed by delays in infrastructure mega-projects and the start of a corruption scandal associated with a Brazilian firm. Massive flooding in early 2017 also was a drag on growth.