1) Peru's climbing exports have allowed it to import greater quantities wthout disrupting the balance of payments or putting pressure on its currency.
2) Mining exports have been the big driver of all exports.
3) Quantities mined of all the top metals have either been static or dropping, with very little evidence of more production added to its industry.
(click to enlarge any chart)
In other words, Peru's expansion isn't some government-led miracle, it's a country that hasn't done a thing to expand its productive base and has ridden its luck on the world commodity price rise.
Bottom line: Peru is an economic luckhouse, not an economic miracle.