Peru’s GDP Rises 5.55 Percent In March

Peru’s economy grew by 5.55 percent in March, which is slower than many economists had expected, state news agency Andina reported.

Growth in March, which is the 31st straight month of economic growth in Peru, was lower than the 7.18 percent in February.

The National Statistics and Information Bureau, or INEI, said Peru’s agriculture sector rose 1.62 percent in March, while fishing fell 15.07 percent.

The mining and hydrocarbon sector grew 6 percent in March, as metallic mining Read more…

Peru’s Exports Rise 5% In March To $3.91 Billion

Foreign Trade and Tourism Minister Jose Luis Silva said Thursday that Peru’s exports totaled $3.91 billion in March, which is 5 percent higher than the same month last year.

The increase in exports was thanks largely to a 14 percent rise in non-traditional exports, which includes non-metallic minerals, steel, metal-mechanics, and textiles.

Traditional exports, which include Peru’s important mineral shipments, rose 2 Read more…

Britain, Peru Begin Mending Relations With Business Road Show

Britain and Peru appear to be mending ties through the private sector following a diplomatic rift caused by Peru’s last minute cancellation in March of a visit to the port of Callao by Britain’s HMS Montrose, a navy frigate.

Peruvian business and government leaders travelled to London last week as part of a three-city tour this year that aims to increase investments in the South American country.

The Peruvian business group included leaders from the country’s banking, mining, energy, and other sectors, and was led by the Minister of Finance, Luis Miguel Read more…

Peru’s GDP Rises 7.18 Percent In February

Peru’s economy grew by 7.18 percent in February, its fastest rate of growth since last August, the government said.

The National Institute for Statistics and Information (INEI) said that construction led growth for the month, rising 14.03 percent, as domestic demand was boosted among an increase in public-sector investments, state news agency Andina reported.

The retail sector grew 8.89 percent amid higher vehicle sales, while electricity and Read more…

Peru’s Business Confidence Increases To 12 Month High

Business confidence in Peru reached its highest level in 12 months, daily Gestion reported, citing the Central Bank’s latest survey on macroeconomic expectations.

Sixty percent of respondents said they are optimistic about the economy, compared to 57 percent in January and 56 percent in December.

The survey found that 61 percent of businesses expect sales to increase this year, Read more…

Peru Exports Rise 21 Percent In January

Peruvian exports increased 21 percent in January to $3.59 billion, compared to the same month in 2011, according to preliminary data from trade group ComexPeru.

Comex said that the increase was largely due to a 23 percent rise in exports from primary products, which totaled $2.78 billion in the month.

Fishing exports rose 252 percent to $279.8 million in January from $79.4 million, Read more…

Peru’s GDP Increases 6.92 Percent In 2011

Peru’s economy grew by 6.92 percent in 2011, compared to 8.8 percent in the previous year, the national institute of statistics and information said.

Peru’s gross domestic product has grown for 28 consecutive months and it has expanded for the past 13 years, state news agency Andina reported.

In December, Peru’s GDP expanded by 5.96 percent, which was higher than many Read more…

China Finishes 2011 As Peru’s Main Exports Market

China closed 2011 as Peru’s top destination for exports, a year that saw a record in the value of the Andean nation’s shipments abroad, the government said Tuesday.

In 2011, Peruvian exports totalled $45.7 billion, up 28 percent from 2010, Foreign Trade and Tourism Minister Jose Luis Silva said, according to state news agency Andina.

Traditional exports increased 27 percent to $35.6 billion, while non-traditional Read more…

Scotiabank: Private Sector Investments To Rise 8% In 2012

Private sector investments in Peru are expected to grow eight percent in 2012 amid uncertainty in the global economy, Scotiabank Peru said, according to state news agency Andina.

Scotiabank said that companies are planning “relatively aggressive” investment plans in 2012 and 2013 in a number of sectors, including retail, banks, construction and real estate, as well as mining and hydrocarbons.

Scotiabank said that while social conflicts could affect some mining investment plans, it does not seem to be affecting the sector in general. The latest project to be Read more…

Mexican Senate Ratifies Free Trade Accord with Peru

Mexico’s Senate ratified a free trade agreement with Peru on Thursday, after delaying about seven months since it was approved by executives in both countries on concerns about its impact on the agricultural sector.

The trade pact was approved with 55 votes in favor and 47 against.

Peru’s Foreign Trade and Tourism Ministry said in a statement that trade between Read more…

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