Peruvian economy witnessed 21 years of continuous growth as 2019 came to an end, considering the growth rate of 2.2% estimated by Economy and Finance Minister Maria Antonieta Alva for the past year.
The national economy has shown resilience to the ups and downs of the global economy, mainly based on the prudent and sound monetary and fiscal policy stance maintained over the past two decades, as well as on increased exports —hand in hand with a policy of commercial integration— to diverse global markets.
In 1998,
Peru's gross domestic product (GDP) had a variation of -0.39% and, since the following year, when it recorded an increase of 1.49% (1999), the economy maintained a positive performance in line with the volatility of international markets.
After recording an expansion rate of 9.14% in 2008, the GDP slowed to a pace of 1.04% in 2009 as a result of the global economic crisis triggered by subprime mortgages in the United States.
Over the last decade, the country's GDP showed a different trend, partly due to the volatility of the prices of metals, such as copper, among other external and internal factors, but always in positive territory.
Thus, the variation in economic growth was as follows: 2010 (8.45%), 2011 (6.45%), 2012 (5.95%), 2013 (5.83%), 2014 (2.39%), 2015 (3.27%), 2016 (4.04%), 2017 (2.47%) and 2018 (4.0%).
Peruvian economy has resisted the domestic political situation. In addition, macroeconomic indicators, such as inflation, have remained in the target range (1%-3%) set by the
Central Reserve Bank (BCR).
(END) MDV/MDV/RMB
Published: 1/1/2020