Andina

Peru's GDP expands 5.2% in 4Q 2013

11:43 | Lima, Feb. 26.

Peru's gross domestic product (GDP) grew 5.2 percent in the last quarter of 2013 over the same period a year earlier, representing 17 consecutive quarters of growth.

National statistics agency INEI said Tuesday that this growth was driven by domestic demand (consumption and investment) and by key sectors such as fishing, retail, and mining & hydrocarbons.

Fishing activity rose 47.4 percent in the fourth quarter last year, while the retail and mining & hydrocarbons industries gained 7% and 6.1% respectively.

Going the same way were a number of sectors including construction, agriculture, manufacturing, and electricity & water.

In 2013, the economy grew 5.02 percent while in 2012 it expanded 6.3 percent, one of the fastest rates in the region.

Economic analysts surveyed by the central bank said they expect Peru's economy will expand 5.6% this year. The central bank is forecasting growth of 6% in 2014.

(END) DLG/EEP


Published: 2/26/2014
Most read