Peruvian economy expanded 3.19% in March 2019

11:21 | Lima, May. 15.

Peru's national production expanded 3.19% in March 2019, thus registering 116 months of continuous growth, National Institute of Statistics and Informatics (INEI) informed Wednesday.

According to the National Production Technical Report, production increased 2.28% in the first three months of 2019 and posted a rise of 3.77% in the last 12-month period (Apr. 2018-Mar. 2019).

March's outcome was underpinned by the positive evolution of household consumption thanks to higher retail sales (3.17%) and consumer loans (9.61%).

Likewise, foreign demand recorded an increase driven by the good performance of non-traditional product exports (19.89%) such as fishery, chemical, farming, and textile products.

Furthermore, traditional product shipments such as flour and fish oil stood out.

In March, the majority of sectors posted a positive performance.

In this sense, the manufacturing, trade, telecommunications, construction, farming, services provided to companies, as well as electricity, gas, and water spheres contributed with 63% of the total in the third month of 2019.

However, the fishery sector registered a decrease.

It should be noted March 2019 had an additional business day compared to March last year, due to the Holy Week.

Moreover, national production expanded in the primary (1.49%), secondary (4.31%), and services sectors (3.76%) in the aforementioned period.

(END) RGP/DTK/MVB

Published: 5/15/2019

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Peruvian economy expanded 3.19% in March 2019

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