Peru’s economy grew 2.7% in 2022, affected by protests in December

The Peruvian economy registered a growth of 2.68% in 2022, impacted during the last month of the year by social protests and evidencing a slowdown in economic growth compared to previous years and to the performance of other countries in the region in the same period.

According to the National Institute of Statistics and Informatics (INEI), Peru’s economy registered a growth of 0.86% in the last month of last year, with a contraction in the Manufacturing, Financial and Insurance, Telecommunications, Agriculture, and Fishing sectors.

On the other hand, Mining and Hydrocarbons, Construction, Commerce, Accommodation and Restaurants, Transportation and Storage, and Other Services grew.

Meanwhile, throughout 2022 the sectors that contributed the most to growth were those still impacted by the Covid-19 pandemic in 2021: accommodation and restaurants, transport and storage, trade, agriculture and livestock, construction, and other services.

“The annual rate recorded evidence of a slowdown in economic growth, explained in part by the acute situation the country is going through in the social aspect, accompanied by lags from the pandemic,” said INEI.

“The seasonally adjusted index of national production for December 2022 registered a variation of -0.24%, with respect to the immediately preceding month”, highlighted INEI as a result of the negative impact on Peruvian economic indicators towards the last part of the year.

With information from Bloomberg