From The Report: Peru 2014
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Increased domestic consumption, exports and investment have led to consistent sector growth since 2004, averaging 4.2% per year in GDP terms from 2003-12. In 2012 the agriculture and livestock sector grew 5.1%, with agricultural activity comprising 60% of the sector’s total growth, though its contribution to GDP declined to 7.2% as the pace of growth in other sectors rose. In the first half of 2013 agricultural production expanded by another 1.9% year-on-year. Most key agricultural exports experienced growth, except for coffee, which fell by 7.3% due to a combination of adverse climatic conditions and a drop in global prices. In the short term, growing domestic demand alongside expansion of the amount of irrigated land and improved production techniques should help support output growth. In addition, upward movement of prices for export produce, the commercialisation of which is facilitated by a rising number of FTAs, bodes well for revenues.