In 2022, Peru’s GDP grew by 2.7%, showcasing a robust economic recovery. Looking ahead, the country is projected to experience a growth rate of 2.4% in 2023. Prosperous outlook for investors.
This growth will be primarily propelled by the continued strength of the primary sectors, such as mining, agriculture, and energy, as well as the resilience of the services sector. But why is the rational of this expansion?
Factors driving economic growth, including primary sectors and services Peru’s economic growth is underpinned by the strength of its primary sectors. The mining industry, in particular, has played a pivotal role in driving exports and attracting foreign investment. Furthermore, the services sector, encompassing finance, telecommunications, and tourism, continues to exhibit resilience and contribute significantly to economic expansion. Potential acceleration in growth with improved business confidence and mining projects.
So, it can be predicted that Peru’s economic growth is expected to gain momentum. This acceleration is projected to lead to a growth rate of approximately 2.8% in subsequent years. The revival of mining projects and increased investor confidence will act as catalysts for sustained economic expansion.