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  HOME | Peru

Peru’s Economy Grew 5% in 2013

LIMA – Peru’s gross domestic product expanded by 5.02 percent in 2013 as the Andean nation enjoyed a 15th consecutive year of growth, the INEI statistics agency said Friday.

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

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

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

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

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, grew 6.92 percent in 2013.

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

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