Peru Economic Activity June 2017

Peru

Peru: Economic activity makes further gains in June driven by a surge in exports

August 15, 2017

Economic activity expanded 3.6% year-on-year in June over the same month of the previous year, a slight acceleration from May’s 3.4%rise and the second-highest pace of expansion this year.

A robust external sector drove June’s improved result as exports surged by 31.5%, led by growth in sales to overseas markets of fish and fish oil, coffee, copper, iron, zinc and oil and natural gas. Fueling the surge in fish and fish oil exports was a staggering 52.0% output growth in the fishing sector. Other exports also posted strong double-digit growth.

Despite an increase in the headline result, annual average variation in economic activity in June was unchanged from May’s 2.9%.

LatinFocus Consensus Forecast panelists expect GDP to expand 2.7% in 2017, which is down 0.1 percentage points from last month’s projection. For 2018, the panel expects the economy to grow 4.0%.


Author:, Economist

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Peru Economic Activity June 2017

Note: Year-on-year changes of economic activity and annual average growth rate in %.
Source: Peru National Statistical Institute (INEI) and FocusEconomics calculations.


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