Andina

Peru economy up 4.29% in 1H 2018

10:06 | Lima, Aug. 15.

Peru's national production grew 4.29% in Jan-Jun this year and 3.38% in the last 12-month period (Jul 2017-Jun 2018), National Institute of Statistics and Informatics (INEI) informed Wednesday.

According to INEI's National Production Technical Report, the country's GDP posted a 1.98% expansion last June, thus marking 107 months of sustained growth.

Peru's economic activity was driven by the positive growth in external demand for traditional products (cotton, sugar, copper, iron, silver, zinc, oil and its derivatives, and natural gas), which went up 8.52%.

Non-traditional products from farming, fishing, textile, chemical, metal-mechanic, and iron-steel sectors —whose exports rose by 19.67%— also stood out.

This rise was also influenced by domestic demand recovery, as reflected in higher retail sales (3.08%), and consumer loans (7.57%).

June

June 2018 rise (1.98%) was fueled by the upturn in most sectors, including farming, telecommunications, trade, manufacture, services supplied to companies and construction, as well as transport, storage, and communications. 

These productive sectors contributed 66% to Peru's GDP overall growth in such month. 

(END) MDV/RMB/MVB

Published: 8/15/2018
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