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Lima is undeniably the powerhouse of the Peruvian economy. As of 2016, Lima contributed some 46% of Peru's total GDP. As Peru's centre of an expanding service sector, Lima is experiencing one of the fastest disposable income growth rates in Latin America (22% at constant prices) and the fastest labour productivity growth (25%), over 2011-2016. However, the growing unemployment rate and wealth inequality continues to threaten the city's future.
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With Lima being the centre of the service sector, the GVA share from commerce, business industries and the public sector amounted to 75% in Lima, while in the rest of country this proportion was 55%. Relying less on manufacturing every year, business and the public sector continue to grow the most rapidly.
With the work force in Lima being 106% more productive when compared to the rest of the country, Lima's per household income advantage was also considerably greater in 2016. In the same year average per household income in Lima was 98% greater than in the rest of the country.
On a per household basis, consumer expenditure (excluding housing and transport) in Lima was 105% greater than in the rest of Peru in 2016. Expenditure on recreation and culture, education and hotels and restaurants formed the largest differentials between households in Lima and the rest of the country.
With average expenditure on housing and transportation per household being 129% greater than in the rest of country, Lima is considered not to be an affordable city. Transport expenditure was as much as 171% greater in Lima mainly a result of the significantly higher motorisation rate in the city compared to the rest of the country.
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