... on average, by 7.1% between 2007 and 2011, Peru's GDP decelerated to 6.3% in 2012 and 5.0% in 2013 as a result of weaker export demand and terms of trade. The Peruvian economy is resilient, however, and is projected to grow by 5.4% in 2014, which would make it the second-fastest growing economy in Latin America. Strong domestic consumption and investments in mining projects should push growth closer to 6% by 2015. Competitive Mining Costs Support Investments Despite social conflicts and lower international metal prices, mining investment remains strong due to Peru's globally competitive mining costs. The sector is expected to underpin Peruvian growth as new mining projects and expansions between 2014 and 2016 should double copper production. The central bank's calculations for the country's total pipeline of private investment for 20132015 stands at USD46 billion, with mining projected to account for 46% of this total, followed by hydrocarbons...
