Peru’s economy saw a 0.17% rise in April 2017, thus marking 93 straight months of growth, the National Institute of Statistics and Informatics (INEI) reported on Thursday.
As a result, the Inca country's GDP has expanded 1.58% so far this year, and 3.12% in annualized terms (over the last 12 months), INEI head Anibal Sanchez informed.
Similarly, the deseasonalized GDP inched up 0.47% in the said month.
"April's result benefited from the positive evolution of foreign demand: total exports increased 0.34%, mainly those of non-traditional products (6.70%) like farming, fishing and metal-mechanic," Sanchez said.
Imports of non-durable consumer goods (+7.62%) to satisfy the domestic demand and credit card consumption (+0.58%) also contributed to the reading.
Regarding economic sectors, April's GDP was underpinned by the positive performance of fishing, telecommunications, transport, messaging, restaurants and accommodation, as well as public administration.
Fishing
Fisheries' output recorded a staggering 101.01% rise in the fourth month, explained by greater Peruvian anchovy catches (382,660 tons).
Fishery products for direct human consumption, up by 14.41%, also played a role in the result.
Production was mainly distributed among frozen (45.3%) and curated (4.5%) goods.
Telecommunications
In the analyzed month, the telecommunications and other information services sector expanded 6.12%, driven by increasing activity in the telecom sub-sector (+9.02%).
The rise owed to an increase in Internet and cable TV (11.3%), as well as telephone services (9.7%).
Mining and hydrocarbons
On the other hand, the mining and hydrocarbons sector grew 0.001%. Said result was explained by the metallic mining sub-sector, up 1.87% due to greater zinc (27.5%),
copper (2.4%), silver (3.9%), iron (8.6%), lead (2.9%) and tin (6.4%) output.
(END) CNA/DHT/MVB
Published: 6/15/2017