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Peru economy up 4% in 2018, 20 years of sustained expansion

Staff Writer |
Peruvian economy expanded 3.99% in 2018, thus accumulating 20 years of continuous growth, National Institute of Statistics and Informatics (INEI) reported.

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According to INEI's National Production Technical Report, the country's GDP posted an increase of 4.73% in December last year, thus marking 113 months of non-stop expansion.

Sorted by economic activities, the primary sector rose by 1.99%, whereas the secondary and services ones grew by 5.93% and 4.08%, respectively.

GDP growth in 2018 was fueled by the positive performance of 11 sectors such as fishery 39.73%; farming (7.54%); manufacturing (6.17%); finance and insurance (5.74%); as well as telecommunications and other information services (5.52%).

Other industries included construction (5.42%); transport, storage, and communications (4.95%); electricity, gas, and water (4.40%); accommodation and restaurants (3.58%); services provided to companies (3.26%); and trade (2.65%).

Nevertheless, the mining and hydrocarbons industry experienced a drop of 1.29%.

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