Peru’s GDP Growth Accelerates in Q4

In the fourth quarter of 2013, Peru’s economy advanced 5.2 percent over a year earlier, up from a revised 4.5 percent in the previous quarter, as private sector demand remains the main source of growth.

On the expenditure side, only gross capital formation recorded a higher growth rate than in the previous quarter (4.5 percent yoy compared with 1.4 percent yoy). Although private consumption and government spending continued to support growth, they slowed to an annual 4.2 percent and 5.6 percent respectively, from 5.3 percent and 7 percent, respectively in the previous three-month period. 

Both exports and imports contracted for the second straight quarter (-0.9 percent and -1.7 percent, respectively). Shipments dropped on the back of lower gold, copper and gasoline sales. 

On the production side, while fishing recorded the highest growth rate (47.4 percent yoy), construction slowed the most (3.6 percent from 5.8 percent in the preceding quarter). 

On a quarter-on-quarter seasonally-adjusted basis, the GDP expanded 1.8 percent, the highest growth rate in the last five quarters. For full 2013, the economy expanded 5 percent.

Peru’s GDP Growth Accelerates in Q4

Joana Taborda |
2/24/2014 5:03:30 PM