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Peru's economy up by 47.80% in May 2021

12:01 | Lima, Jul. 15.

The national production expanded 47.80% in May of this year due to the favorable results obtained by most economic sectors, with the exception of the farming sphere, the National Institute of Statistics and Informatics (INEI) reported on Thursday.

The recent figures are compared with those of May 2020, when the Peruvian economy registered a major decline (-32.59%) due to the quarantine and the presence of COVID-19 in the country, INEI pointed out in its technical report.

According to INEI, national production grew by 19.69% in the period comprising January-May 2021, and it increased by 2.50% in the annualized period (June 2020-May 2021).

The result of national production in May 2021 was influenced by the positive result of the following sectors: commerce (104.06%); manufacturing (84.01%); mining and hydrocarbons (66.89%); construction (257.04%); transportation, storage, and messaging (90.53%); as well as other services that explain 75% of the total result, it detailed.

Also, services provided to companies (64.12%) showed favorable results as did accommodation and restaurants (480.47%); finance and insurance (12.65%); fishing (+102.40%); telecommunications (7.98%); electricity, gas, and water (+28.23%); among others.

However, the farming sector's production decreased (-4.04%), it mentioned.

(END) NDP/MVB

Published: 7/15/2021
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