Peru’s GDP up 4.3% in April 2015

Peruvian economy has seen a 4.3 rise in April this year due to increased activity in primary sectors such as fishing, primary manufacturing and metallic mining, the Central Reserve Bank of Peru informed in its latest Weekly Economic Report.

 

Peru’s gross domestic product (GDP) accumulated a growth rate of 2.4% in the January-April period.

 

Increased activity (13.1%) was observed in primary sectors, including fishing (154.0%) –as a result of the start of the first season of anchovy fishing– primary manufacturing (35.9%), and metallic mining (18.1%).

 

The output in the mining and hydrocarbons sector grew 9.3% in April due mainly to a higher extraction of copper, gold, and zinc.

 

The manufacturing output rose 6.1%, driven by higher levels of activity in oil refining and primary manufacturing branches, especially the production of fishmeal and fish oil, due to greater catch of anchovy.

 

The agriculture sector dropped 2.2% due to lower production of olive by lower yields; rice, for late sowing; and cane sugar, internal troubles in Tuman and Pomalca in Lambayeque.

 

Finally, the construction sector activity fell 8.6% due to lower domestic consumption of cement and the slower pace registered in the physical implementation of public works.