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LatinNews Daily - 23 November 2021

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In brief: Peru’s GDP continues to recover

* Peru’s national statistics institute (Inei) has released the latest quarterly GDP figures, showing that the country’s economy expanded by 11.4% in Q3 2021, compared with Q3 2020. GDP also increased by 2.8% relative to the preceding quarter. This is the first quarterly GDP update to cover the administration of President Pedro Castillo, who took office in late-July. Inei noted that the year-on-year growth was driven by a 24.1% increase in gross fixed capital formation, an 11.8% increase in household consumption, and a 6.6% increase in government consumption. Inei also highlighted the economic recovery of Peru’s trading partners from the coronavirus (Covid-19) pandemic as a key factor in the GDP growth, noting that exports of goods and services increased by 9.2% in Q3 2021 compared with Q3 2020.