Weekly Report - 23 February 2012 (WR-12-08)

PERU | Still going strong. The economy grew by 6.92% in 2011, according to the national statistics institute (Inei). This is almost two percentage points less than in 2010, but still impressively high even by strong regional standards. Growth was led by the fishing sector which jumped by 29.73% year-on-year. GDP growth surpassed the 6.5% projection of the IMF and the government’s own estimation of 6.75% growth. The mining and hydrocarbons sector contracted by 0.22%: mining activity fell by 3.59% while hydrocarbons production increased by 18.10%. Exports reached a record US$46.27bn, up 13.15% in 2011 on the previous year.

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