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Peru's GDP up 1.78% in Nov 2017, driven by mining and trade

09:54 | Lima, Jan. 15.

Peru's GDP increased 1.78% in November 2017, marking 100 months of continuous growth, the National Institute of Statistics and Informatics (INEI) informed.

INEI's National Production Technical Report shows Peruvian economy went up by 2.38% in Jan-Nov 2017, and 2.47% over the past 12 months (Dec 2016-Nov 2017).

November 2017 data is explained by a 12.7% increase in external demand, driven by higher total exports of traditional (14.3%) and non-traditional (8.7%) products.

The most exported items included copper, zinc, gold, molybdenum, as well as fishing, metal-mechanical, chemical, textile and non-metallic mineral products.

The result was also boosted by a rise in domestic demand, reflected in higher imports of non-durable consumption goods (13.4%), retail sales (0.47%), and consumption credits (2.84%).

November 2017 rise (1.78%) was fueled by the upturn in most productive sectors, including mining and hydrocarbons (3.62%), construction (5.33%), telecommunications and other related services (6.95%), trade (1.74%), as well as transport, storage and communications (4.18%), which contributed 85% to overall growth in such month. 

(END) MDV/MDV/RMB/MVB

Published: 1/15/2018
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