LatinNews Daily - 16 May 2022

In brief: Peru posts moderate growth in Q1 2022

* Peru’s national statistics institute (Inei) has announced that Peru’s GDP increased by 3.84% in Q1 2022, compared to the same quarter in 2021. This was below the 4% growth predicted by the central bank (BCRP). In monthly terms, GDP was up 3.79% in March year-on-year. By sector, the greatest year-on-year growth in March 2022 was in the hospitality sector (+42.10%), in transport, storage and delivery services (+12.23%), and in commerce (+8.09%). However, the fishing sector contracted by 25.10% year-on-year in March 2022, primarily due to a decline in the anchovy catch, and the mining and hydrocarbons sector contracted by 1.21%, due to reductions in the extraction of crude, copper, lead, zinc, silver, gold, and tin. The latest GDP figures for Q1 follow year-on-year growth of 3.2% in Q4 2021, and 11.4% in Q3 2021.

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