Monday, February 24, 2014

Perú: Gdp Increased by 5.02% in 2013, the Country's 15th Year of Consecutive Growth

According to The Latin American Tribune, Perú’s gross domestic product (gdp) expanded by 5.02% in 2013 as the Andean nation enjoyed a 15th consecutive year of growth, the INEI statistics agency said Friday (February 21).

The figure was down significantly from the 2012 rate of 6.3% and fell slightly short of the latest projection from the Peruvian central bank.

“All of the economic sectors grew last year,” INEI chief Alejandro Vilchez said.

Retail saw growth of 5.83% last year, driven by higher sales of food, appliances, cellphones and vehicles.

The construction industry, which grew at more than 15% in 2012, expanded at the slower – though still healthy – clip of 8.56% last year.

COMMENT: Besides housing and shopping centers, the sector kept busy with infrastructure projects such as a new passenger terminal at Pisco airport, the Via Parque Rimac Highway and an electric rail initiative, INEI noted.

Business services, including advertising, information technology, insurance and equipment-leasing, also grew 6.92% in 2013.

Perú also gained some 2,000 new hotels and more than 20,000 new restaurants in 2013 as the hospitality sector expanded by 6.41%.

In light of Perú's continuing stellar growth, it is clearly one South American nation that has really figured out its business model. Investors: Please note.