Andina

Peru: Industrial GDP to increase 4% in 2018

00:03 | Lima, Nov. 20.

The Production Ministry (Produce) has projected Peru's industrial GDP will register a 4% increase in 2018, underpinned by the fishery sector's good performance.

According to the Central Reserve Bank of Peru (BCR), manufacturing GDP recorded four years of consecutive declines (2014-2017).

It should be noted the manufacturing sector rose 1.19% last September, thus registering seven months of continuous growth, National Institute of Statistics and Informatics (INEI) informed. 

Furthermore, this increase was driven by the primary manufacturing (+3.52%) and the non-primary manufacturing (+0.52%) subsectors.

Fishery sphere 

Production Minister Raul Perez-Reyes informed the first days of the second fishing season —in Peru's central and northern sea areas— delivered impressive results

"Yesterday, 116,000 tons of anchovy were captured," the official highlighted. 

"Thus, we expect to close the year with a 4% expansion (in manufacture). In the first half of the year, it rose 5.7%, but in the second half it will grow at a lower rate," he added. 

Last week, Produce indicated the second anchovy fishing season's quota —in the aforementioned areas— would be 2.1 million tons. 

(END) MMG/JJN/DTK/MVB

Published: 11/20/2018