Andina

Peru: GDP up 3.2% in 1Q 2018

15:25 | Lima, May. 21.

Peru's economy expanded 3.2% in the first quarter of 2018, mainly underpinned by the positive evolution of domestic demand, National Institute of Statistics and Informatics (INEI) informed Monday.

According to the technical report titled "Peruvian Economic Performance," said growth was fueled by increases in government consumption (+7%) and private final consumption (+2.9%).

The good performance of private (+6.5%) and public (+3.5%) investments also contributed to said expansion.

It must be noted this behavior occurred in an international context of main trading partners' growth, which resulted in higher exports volume and prices.

Likewise, INEI pointed out the trade sector registered positive results in the first three months of the current year.

In this sense, the Inca country's total exports volume saw a 6.3% rise, whereas imports increased 8%.

Terms of trade

On the other hand, Peru's terms of trade also improved in the analyzed period, driven by higher export prices (+6.3%) if compared to those of imports (+1%).

Lastly, INEI indicated deseasonalized GDP grew 1.5% from the previous quarter (between October and December 2017).

(END) JJN/JJN/JAA/MVB


Published: 5/21/2018
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