(MENAFN) The National Institute of Statistics and Informatics (INEI) said that Peru's GDP expanded by 2.35 percent in 2014, down for the fifth straight year, Xinhua reported.
In January of 2015, the country witnessed a slight growth, reflecting a slowing down of productive sector, dragged down by the weak demand for raw materials and fish products.
The fishing sector contracted by 27.9 percent in 2014, affected by the global financial crisis, while the mining sector shrank by 2.1 percent, as the two sectors account for a 90 percent drop in manufacturing.
According to the World Bank figures, the Peruvian economy has been gradually losing steam since 2010 when it grew 8.5 percent. The economy dropped 2 percent in 2011 and 0.5 in 2012.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.