The petrochemicals and logistics sectors have been some of the most exposed industries in Latin America and across the world during the past 13 months. Both critical to the region’s economies, they faced substantial headwinds in the early months of the pandemic, such as closed borders and strict measures on industrial operations. For petrochemicals and chemical firms, the immediate impact has been…
The largest airport in Peru, Jorge Chávez International Airport, located in Lima, was voted the best airport in South America in the Skytrax World Airport Awards for 2019. In line with this growing recognition and to improve its services for an increasing number of travellers, the facility is undergoing a major expansion that will increase its size from 2m sq metres to 9m sq metres. After…
The commitment of Peru to meeting its transport and logistics needs is apparent in the FY 2019 budget. The Ministry of Economy and Finance set aside PEN326.6m ($98.9m) for road, air and port infrastructure development, with plans to secure additional funds from the private sector. The prospects for investment in the sector are positive, as the need to close the country’s infrastructure gap is coupled…
The commitment of Peru to meeting its transport and logistics needs is apparent in the FY 2019 budget. As part of this public spending programme the Ministry of Economy and Finance set aside PEN326.6m ($98.9m) for road, air and port infrastructure development, with plans to secure additional funds from the private sector. The largest share of the budgeted amount, PEN133.9m ($40.5m), will be…
Interview:Juan José Salmón Balestra What will Jorge Chávez International Airport’s passenger and cargo capacity be after the new terminal and runway have been completed? JUAN JOSÉSALMÓN: Under the expansion project a second runway and a new terminal will be constructed. This will allow the airport to increase its current capacity from 23m passengers per year in 2018 to over 35m…
Despite a challenging external environment, Peru’s annual average GDP growth has exceeded 5% over the last decade. However, the economy suffered in 2017 as a result of further damage inflicted by El Niño, and inflation averages approximately 3.25% per year. Economic growth began to recover in 2018, with GDP expanding by 4.1%, though this is expected to moderate to 3.7% in 2019 and 2020. While P
The aviation sector is experiencing rapid growth worldwide, propelled by booming tourism industries, lower air fares and the push for greater connectivity in an increasingly globalised economy. Middle-class expansion has also spurred growth in air travel, as more people are able to afford flights for holidays or business-related travel. According to Boeing, commercial airlines experienced annual…
The transport sector remains a vital aspect of Peru’s economic success, growing by 2.30% in 2016, and by an average of 2.26% in the first eight months of 2017, according to the National Institute of Statistics. This expansion was driven by a 3.05% increase in airport transit, a 4.26% growth in railway transport, as well as respective increases of 2.11% and 0.74% for passenger and freight ground transport.…
The transport sector remains a vital aspect of Peru’s economic success, growing by 2.30% in 2016, and by an average of 2.26% in the first eight months of 2017, according to the National Institute of Statistics. This expansion was driven by a 3.05% increase in airport transit, a 4.26% growth in railway transport, as well as respective increases of 2.11% and 0.74% for passenger and freight ground transport. However,…
Interview :Javier Lancha de Micheo What are the principal contributing components behind Peru’s successful efforts to boost its international connectivity? Javier Lancha De Micheo: There are three critical aspects behind Peru’s successful efforts to enhance its connectivity to the world. First, Peru has a rich variety of quality products to export, such as hydrocarbons and fish. Second,…