Andina

Peru: Domestic demand up 2.3% in 2019 driven by private consumption

16:20 | Lima, Feb. 24.

Domestic demand grew 2.3% in 2019. The main boost came from the rise in private consumption (3%) and private investment (4%), Central Reserve Bank of Peru (BCR) reported on Monday.

Positive private investment rates remain unchanged for the third consecutive year with the 4% growth in private investment.

This growth was fueled by higher mining investment (24.2%), mainly in copper projects.

Investment in other sectors contributed —to a lesser extent— to the increase in total investment when it reached a growth rate of 1%.

Private investment, as percentage of GDP, increased by 0.3 percentage points in 2019 to 17.9% of GDP, the highest ratio over the past three years.

The share of mining investment went up from 2.2% of GDP in 2018 to 2.7% in 2019, while the non-mining investment went from 15.4% to 15.2%.

(END) JJN/JJN/RMB

Published: 2/24/2020