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Peru's GDP up 2.2% in 4Q 2017, driven by domestic demand

LIMA, PERÚ - DICIEMBRE 22. Limeños realizan sus compras navideñas en Jirón de la Unión. 

Foto: ANDINA/Juan Carlos Guzmán Negrini.

LIMA, PERÚ - DICIEMBRE 22. Limeños realizan sus compras navideñas en Jirón de la Unión. Foto: ANDINA/Juan Carlos Guzmán Negrini.

11:09 | Lima, Feb. 19.

Peru's GDP —at constant prices— increased 2.2% in the fourth quarter of last year, mostly explained by the positive evolution of domestic demand (+5%), National Institute of Statistics and Informatics (INEI) reported.

Likewise, INEI pointed out said expansion was the highest rate since the third quarter of 2013.

According to the technical report titled "Peruvian Economic Performance," this behavior occurred in a context of the main developed economies' growth, as in the case of the Eurozone, China, the United States, and Canada.

"Added to this is the favorable impact on commodity prices, particularly those of metals," INEI noted.

Likewise, the Andean nation's GDP growth was underpinned by increases in government consumption (+11.5%) and private final consumption (+2.6%). 

The good performance of private (+6.2%) and public (+4.3%) investments also contributed to said expansion.

It must be noted deseasonalized GDP inched up 0.9% in the July-September period of 2017 if compared to the previous quarter

(END) MDV/MDV/JAA/MVB

Published: 2/19/2018
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