Peru's economy grows 3.99 pct in 2018

Source: Xinhua | 2019-02-16

Peru's economy grew 3.99 percent in 2018, the National Institute of Statistics and Informatics (INEI) said Friday.
According to INEI's technical report of the national production, in December 2018 alone, Peru's economy grew 4.73 percent, resulting in an accumulation of 113 months of continued growth.
INEI pointed out that due to large economic activities, the secondary sector grew 5.93 percent last year, while the service sector grew 4.08 percent.
Broken down by sector, those that drove the gains were fishing (39.73 percent), agriculture (7.54 percent), manufacturing (6.17 percent), finance and insurance (5.74 percent), and telecommunications and other information services (5.52 percent).
Meanwhile, the construction sector registered growth of 5.42 percent, and sectors of transportation, storage and communications hit the growth of 4.95 percent.
At the same time, electricity, gas and water sector saw an increase of 4.4 percent, business services provided to companies (3.26 percent); and commerce (2.65 percent).
On the contrary, the production of mining and hydrocarbon sector shrank 1.29 percent, according to the INEI report.