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Peru economy up 4% in 2018, enjoys 20 years of sustained expansion

11:55 | Lima, Feb. 15.

Peruvian economy expanded 3.99% in 2018, thus accumulating 20 years of continuous growth, National Institute of Statistics and Informatics (INEI) reported Friday.

According to INEI's National Production Technical Report, the country's GDP posted an increase of 4.73% in December last year, thus marking 113 months of non-stop expansion.

Sorted by economic activities, the primary sector rose by 1.99%, whereas the secondary and services ones grew by 5.93% and 4.08%, respectively.

GDP growth in 2018 was fueled by the positive performance of 11 sectors such as fishery 39.73%; farming (7.54%); manufacturing (6.17%); finance and insurance (5.74%); as well as telecommunications and other information services (5.52%).

Other industries included construction (5.42%); transport, storage, and communications (4.95%); electricity, gas, and water (4.40%); accommodation and restaurants (3.58%); services provided to companies (3.26%); and trade (2.65%).

Nevertheless, the mining and hydrocarbons industry experienced a drop of 1.29%.

(END) MDV/MDV/RMB

Published: 2/15/2019
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