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Peru: Industrial GDP to increase over 4% in 2018

15:55 | Lima, Sep. 10.

Peru's manufacturing GDP is projected to expand above 4% in 2018, Production Minister Raul Perez-Reyes informed.

This result will be underpinned by increasing domestic consumption, higher fishing volume, and greater dynamism in the reconstruction of areas affected by Coastal El Niño phenomenon back in 2017.

In aggregate terms, this sector registered a 5.7% expansion by the end of the first half of 2018.

"We believe we should close this year with an increase of over 4%," the minister told El Peruano official gazette.

Concerning sub-sectors, the fishery and textile industries have been displaying good performances over recent months.

According to projections by the Central Reserve Bank (BCR), the fisheries sector will register a significant growth rate of 30% in 2018, compared to the 4.7% recorded in 2017.

(END) DOP/CNA/DTK/MVB

Published: 9/10/2018