Andina

Peru economy up 2.5% in 2017

12:00 | Lima, Feb. 15.

Peru's GDP increased 2.5% in 2017 compared to the previous year, marking 19 years of continuous growth, National Institute of Statistics and Informatics (INEI) reported Thursday.

Said expansion was mainly underpinned by the positive performance of primary (+3.06%) and service (2.74%) sectors.

It must be noted the Peruvian economy grew 1.32% in December 2017, thus accumulating 101 months of consecutive rise.

Such outcome was mostly explained by the positive evolution of foreign demand, reflected in higher exports (+3.88%).

The domestic demand recovery also contributed to said expansion.

In this regard, higher non-durable consumption goods imports (+6.59%), retail sales (+1.69%), and consumer credits (+3.75%) were registered.

Sectors

According to INEI, favorable results were recorded in most economic sectors last December.

Farming (+11.47%); construction (+6.62%); telecommunications (+6.35 %); mining and hydrocarbon (+5.55%); transport, storage and messaging (+4.01%); and trade (+1.93%) stood out in this sense.

Nevertheless, manufacture, fishery, as well as electricity, gas, and water sectors slid 12.50%, 66.87%, and 0.63%, respectively.

(END) MMG/JJN/JAA/RMB

Published: 2/15/2018
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