Foreign direct investment (FDI) flow in Peru amounted to £2.70 GBP during the first quarter of 2013, the country’s Central Reserve Bank (BCRP) reported Sunday.
This figure represents a 15.4% increase with respect to the same period last year and it is equivalent to 8.1 percent of Peru’s gross domestic product (GDP), the Bank said.
The items which stood out in the first quarter were net external borrowing, which reached £1.1 billion, reinvested profits with £1.1 billion and capital contributions received by mining companies and retail for £490 million.The stock of FDI flow in Peru in 2012 was £8 billion while in 2011 was £5.40 billion.
Peru's export-led economy has almost doubled in size from 2002 to 2012, as economic output adjusted for inflation grew at an average annual rate of 6.3%, the highest 10-year average growth in Peru's history, according to the IMF.
While rising commodity prices in the past decade have lifted much of Latin America, countries with more open markets have started to outperform since the U.S. financial crisis caused global growth to slow. In the past five years, for example, Peru grew an average 6.6% versus just 2.1% in oil-rich Venezuela.