News

Peru Economy Grows for 8th Consecutive Quarter
Peru's economy expanded 3.2% year-on-year in Q4 2025, down from 3.8% in Q3 and marking the eighth consecutive yearly expansion, supported by strength in domestic demand (5.2%). Private consumption rose (3.1% vs 3.6% in Q3), driven by higher employment and increased labor income. Government spending slowed (1.5% vs 4.7%), fueled by higher expenditures on public administration and defense, as well as on public education and public health. Gross fixed investment increased faster (10.8% vs 10.7%), with public and private investment rising by 5.8% and 12.3%, respectively. Meanwhile, net trade contributed modestly to GDP, as exports rose 5.3% and imports increased 11.6%. By sector, output grew mainly in transformation (4.7%), services (3.4%), and extractive industries (0.0%). On a seasonally adjusted basis, the economy grew by 0.6%.
Published on 2026-02-23

Peru Economy Expands for 7th Straight Quarter
Peru's economy expanded 3.4% year-on-year in Q3 2025, up from a downwardly revised 2.6% in Q2 and marking the seventh consecutive yearly expansion, supported by strength in domestic demand (6.6%). Private consumption rose (3.2% vs 2.9% in Q2), driven by higher employment and increased labor income. Government spending also accelerated (4.7% vs 3.7%), fueled by higher expenditures on public administration and defense, as well as on public education and public health. Gross fixed investment increased faster (10.1% vs 7.8%), with public and private investment rising by 3.5% and 12.2%, respectively. Meanwhile, net trade contributed modestly to GDP, as exports rose 1.2% and imports increased 11.6%. By sector, output grew mainly in extractive industries (4.7%), services (3.1%), and manufacturing/transformation (2.3%). On a seasonally adjusted basis, the economy grew by 1.2%.
Published on 2025-11-21

Peru Economy Grows for 6th Straight Quarter
Peru's economy expanded 2.8% year-on-year in Q2 2025, slowing slightly from 3.9% growth in the previous period and marking the sixth consecutive yearly expansion, supported by strength in domestic demand (6.0%). Private consumption eased (2.9% vs 3.8% in Q1), driven by higher employment and increased labor income. Government spending also eased (3.7% vs 4.7%), fueled by higher expenditures on public administration and defense, as well as on public education and public health. Gross fixed investment increased faster (7.8% vs 4.0%), with public and private investment rising by 3.2% and 9.8%, respectively. Meanwhile, net trade contributed modestly to GDP, as exports rose 2.7% and imports increased 13.9%. By sector, output grew mainly in manufacturing/transformation (3.0%), services (2.8%), and extractive industries (1.3%). On a seasonally adjusted basis, the economy grew by 0.5%.
Published on 2025-08-22

Peru GDP Annual Growth Rate Eases to 3.9% in Q1
Peru's economy expanded 3.9% year-on-year in Q1 2025, slowing slightly from 4.9% growth in the previous period and marking the fifth consecutive yearly expansion, supported by strength in domestic demand (4.4%). Private consumption rose eased (3.8% vs 4.2% in Q4), driven by higher employment and increased labor income. Government spending rebounded (4.7% vs -0.7%), fueled by higher expenditures on public administration and defense, as well as on public education and public health. Gross fixed investment increased faster (9.7% vs 4.0%), with public and private investment rising by 10.7% and 9.5%, respectively. Meanwhile, net trade contributed positively to GDP, as exports surged 14.2% and imports soared 15.5%. By sector, output grew mainly in agriculture (4.0%), oil, gas, and mineral extraction (2.4%), manufacturing (4.0%), construction (5.3%), commerce (3.4%), and transportation, warehousing, mail, and courier services (7.4%). On a seasonally adjusted basis, the economy grew by 0.6%.
Published on 2025-05-26

Peru Economy Grows for 4th Consecutive Quarter
Peru's economy advanced 4.2% year-on-year in Q4 of 2024, accelerating from an upwardly revised 3.9% increase in the prior period and marking the fourth yearly expansion since Q4 of 2022, supported by strength in domestic demand (6.5%). Private consumption rose 4.0%, driven by higher employment and increased labor income. Government spending fell 0.5%, as reductions in goods and services expenditures were partially offset by higher spending on personnel and social obligations. Also, gross fixed investment gained 4.0%, led by construction (1.3%) and machinery and equipment purchases (8.5%). Meanwhile, net trade contributed positively to GDP, with exports rising 5.8% due to higher sales of non-traditional goods (12.6%), while imports surged 13.7%, reflecting greater purchases of capital goods for agriculture (43%). On the production side, most sectors expanded, including services (3.8%), manufacturing (5.0%), extractive industries (3.3%), and construction (1.3%).
Published on 2025-02-21

Peru Economy Expands for 3rd Consecutive Quarter
Peru's economy advanced 3.8% year-on-year in Q3 of 2024, accelerating from a 3.6% increase in the prior period and marking the third yearly expansion since Q4 of 2022, boosted by strength in domestic demand (3.4%). Private consumption rose 3.5%, due to increases in consumption of goods and services. Government spending grew 4.1%, underpinned by public administration and defense expenditure, education, and healthcare. Also, gross fixed investment gained 6.6%, led by construction (4.7%), and machinery and equipment purchases (9.6%). Meanwhile, net trade contributed positively to the GDP, with exports surging 10.4%, while imports rose 8%. On the production side, most sectors showed growth, including transportation (7.2%), manufacturing (5.3%), construction (4.7%), oil, gas, and mining (4.4%), and electricity, gas, and water (2.1%). However, the agriculture, livestock, hunting, and forestry sector contracted by 1.5%.
Published on 2024-11-22

Peru Economy Expands Further in Q2
Peru's economy advanced 3.6% year-on-year in Q2 of 2024, accelerating from a 1.4% increase in the prior period and marking the second yearly expansion since Q4 of 2022, boosted by strength in domestic demand (5.3%). Private consumption rose 2.3%, due to increases in consumption of goods and services. Government spending grew 5.4%, underpinned by public administration and defense expenditure, education, and healthcare. Also, gross fixed investment gained 3.4%, led by public spending (3.4%), construction (3.3%), and machinery and equipment purchases (3.4%). Meanwhile, net trade contributed positively to the GDP, despite exports falling 2.5%, while imports rose 3.2%. On the production side, most sectors showed growth, including agriculture, livestock, hunting, and forestry (8.0%), manufacturing (10.1%), construction (3.3%), electricity, gas, and water (1.4%), and transportation (6.7%). However, the oil, gas, and mining sector contracted by 3.3%, while financial services decreased by 1.0%.
Published on 2024-08-22

Peru Q1 Annual GDP Grows for 1st Time in 5 Quarters
Peru's economy advanced 1.4% yoy in Q1 of 2024, rebounding from a 0.4% fall in the prior period and marking the first yearly expansion since Q4 of 2022, boosted by strength in domestic demand (2.1%) and exports of goods and services (2.9%). Private consumption rose 1.2%, due to increases in consumption of goods and services. Government spending grew 5.0%, underpinned by public administration and defense expenditure. Also, gross fixed investment gained 5.8%, led by construction (5.1%) and machinery and equipment purchases. Moreover, net trade contributed positively to the GDP, with exports adding 2.9% on the back of rising copper and gold prices; and imports rising 5.7%. On the production side, output grew for most sectors such as oil, gas, and minerals (7.6%); construction (5.1%), electricity, gas, and water (3.9%), and accommodation and restaurants (3.6%). By contrast, manufacturing shrank, particularly non-metallic mineral products, food, and other manufacturing industries.
Published on 2024-05-26

Peru Economy Contracts 0.4% in Q4
Peru's economy contracted by 0.4% year-on-year in the fourth quarter of 2023, marking the fourth consecutive quarterly decline following a 1% fall in the previous period. The decline was primarily dragged by a decrease in domestic demand of 1.0%, due to lower gross fixed investment. There was a 1.1% decline in gross fixed capital investment, with private investment falling by 3.2% . Meanwhile, private consumption grew 0.2% influenced by increased consumption of food (0.1%), food services (0.6%), and other services (1.8%). Government spending expanded by 7.3%, driven growth in public administration and defense expenditure (9.7%) and in public education (1.7%). Net trade contributed positively to the GDP, with exports of goods and services rising by 5.9%, boosted by increases in zinc (29.7%), gold (16.1%), and copper (15.7%), while imports rose by 3%. On the production side, output contracted for agriculture (-1.1%), fishing (-3.6%), manufacturing (-5.7%), and construction (-4.5%).
Published on 2024-02-22

Peru Economy Shrinks 1% in Q3
Peru's economy contracted by 1.0% year-on-year in the third quarter of 2023, marking the third consecutive quarterly decline following a 0.5% fall in the previous period and the steepest contraction since Q4 of 2020. The decline was primarily dragged by a decrease in domestic demand of 2.0%, due to lower gross fixed investment. There was a significant 7.2% decline in gross fixed capital investment, as the construction sector and the acquisition of machinery and equipment fell 9.2% and 3.9%, respectively. Meanwhile, total consumption grew 0.4%, with government spending expanding by 3.0% while private consumption edged down 0.1%. Net trade contributed positively to the GDP, with exports of goods and services rising by 1.3%, mainly boosted by increases in molybdenum (24.6%) and refined cooper (20.3%), while imports shrank by 2.3%. On the production side, output contracted for agriculture (-5%), fishing (-8.2%), manufacturing (-8.9%), and construction (-9.2%).
Published on 2023-11-27

Peruvian GDP Contracts in Q2
Peru's economy contracted by 0.5% year-on-year in the second quarter of 2023, marking the second consecutive quarterly contraction following a 0.4% dip in the previous period. The decline was primarily driven by a sharp drop in domestic demand of 3.9%. While government consumption spending increased by 3.9%, private consumption spending only saw a marginal 0.4% uptick. Additionally, there was a significant 5.6% decrease in gross fixed capital investment, as the construction sector posted a 6.7% decline. On a positive note, exports of goods and services surged by 9.9%, driven mainly by a 22.3% increase in mined products, while imports contracted by 2.2%.
Published on 2023-09-15

Peruvian GDP Contacts in Q1
Peru’s economy shrank 0.4 percent year-on-year in the March quarter of 2023, contracting from a 1.7 percent rise in the previous period. It was the first contractionary quarter since December 2020, led by lower domestic demand (-0.6%) and exports of goods and services (-1.5%). Government consumption spending fell by 1.7%, while private consumption spending edged up 0.2%. Downward pressure also came from an 8.5% decline in gross fixed capital investment as private investment contracted at a faster pace (-10.0%) than public investment (-1.4%). Exports of goods and services slid by 1.5%, while imports shrank by 2.1%.
Published on 2023-05-23

Peruvian GDP Continues to Grow
Peru’s economy grew 1.7 percent year-on-year in the fourth quarter of 2022, expanding at a steady pace from the previous period despite the country’s political unrest. Growth was supported by domestic demand (2.1 percent), carried by household consumption (2.3 percent). Gross fixed capital production also saw an increase (2.6 percent), as soaring public investing (23.4 percent) outweighed the decline in private investing (-1.8 percent). In the meantime, government expenditure contracted by 4.1 percent. Also, net foreign demand contributed negatively to the Peruvian economy, as exports grew 0.1 percent and imports jumped by a shaper 1.9 percent.
Published on 2023-02-23

Peru Economy Expands 1.7% in Q3 2022
Peru’s economy advanced 1.7 percent year-on-year in the third quarter of 2022, slowing from a 3.3 percent expansion in the previous period, as tightening financial conditions dragged on economic activity. Private consumption (3 percent) and gross fixed capital formation (1.9 percent) increased, while government spending fell (2.5 percent). Regarding net trade, exports advanced 1.8 percent while imports grew 9.0 percent.
Published on 2022-11-22

Peru Economy Expands 3.8% in Q1
Peru’s economy advanced 3.8 percent year-on year in the first quarter of 2022, picking up from the 3.2 percent expansion in the previous period as the economy continued to recover from the recession brought by the pandemic. The main contributors to GDP growth were transportation and storage (12.4 percent vs 17.9 percent in Q4), hotels and restaurants (49.4 percent vs 43.3 percent), agriculture (3.7 percent vs 3.8 percent), and commerce (5.9 percent vs 18 percent). On the other hand, output fell for construction (-0.5 percent vs 35.5 percent) and financial services (-5.3 percent vs 6.1 percent). On a seasonally adjusted quarterly basis, the GDP rose by 0.9 percent, after remaining constant during the fourth quarter.
Published on 2022-05-23

Peru Economy Expands 3.2% in Q4
Peru’s economy advanced 3.2 percent year-on-year in the fourth quarter of 2021, easing from an 11.4 percent expansion in the previous period as low base effects from the pandemic began to fade. Still, there was an increase in activity and demand, as the economy continued to recover from the recession brought by the pandemic. The main contributors to GDP growth were transportation and storage (14 percent vs 27.4 percent in Q3), hotels and restaurants (45.7 percent vs 100.7 percent), agriculture (5.6 percent vs 10.5 percent), commerce (3.8 percent vs 10 percent), and manufacturing (1.3 percent vs 7.8 percent). On the other hand, output continued to fall for fishing (-7.9 percent vs -39.6 percent). On a seasonally adjusted quarterly basis, the GDP remained constant during the fourth quarter, following an upwardly revised 2.9 percent expansion during Q3. Considering the full 2021, Peru’s economy grew 13.3 percent, rebounding from an 11 percent contraction in 2020.
Published on 2022-02-23

Peru Economy Expands 11.4% in Q3
Peru’s economy advanced 11.4 percent year-on-year in the third quarter of 2021, easing from the series record of 41.9 percent in the previous period as low base effects from the pandemic begin to fade. Still, there was an increase in activity and demand, as the economy continued to recover from the recession brought by the pandemic. The main contributors to the GDP growth were commerce (10 percent vs 85.6 percent in Q2), manufacturing (8.4 percent vs 61 percent), construction (23.2 percent vs 230.5 percent), transportation and storage (31.6 percent vs 83.8 percent), and restaurants and hotels (99.4 percent vs 422.8 percent). On the other hand, output fell for fishing and agriculture (-37.9 percent vs 21.1 percent). On a seasonally adjusted quarterly basis, the GDP grew 2.8 percent, following an upwardly revised 0.1 percent contraction in the previous quarter.
Published on 2021-11-22

Peru Q2 GDP Annual Growth Hits Record High
Peru's economy advanced 41.9 % year-on-year in the second quarter of 2021, strongly picking up from an upwardly revised 4.5% expansion in the previous period. It was the strongest growth in the GDP since the series began in 1980, amid gradual softening restriction and higher economic activity, and a low base effect last year. The main contributor to the GDP came from significant fast-paced increases in manufacturing (61.0 percent vs 17.1 percent in Q1), construction (231.9 percent vs 42.0 percent) and oil, gas and minerals extraction (25.2 percent vs 2.7 percent). In addition, output rebounded sharply in transport & storage (83.8 percent vs -14.2 percent), accommodation & food services (423.0 percent vs -32.7 percent) and business services (62.6 percent vs -5.5 percent). On a seasonally adjusted quarterly basis, the GDP stalled, after an upwardly revised 0.6 percent growth in the previous period.
Published on 2021-08-24

Peru Economy Rebounds in Q1
Peru's economy expanded 3.8% year-on-year in the first quarter of 2021, following a 1.7% decline in the previous period. It was the first expansion in a year boosted by public measures to help companies and households but a new surge in COVID-19 cases during the spring is threatening a smooth and robust recovery. Main upward pressure came from significant fast-paced increases in manufacturing (16.1 percent vs 1.0 percent in Q4) and construction (41.9 percent vs 19.0 percent). In addition, output fell less in oil, gas and minerals extraction (-0.1 percent vs -3.8 percent), transport & storage (-14.6 percent vs -21.5 percent), accommodation & food services (-30.6 percent vs -37.8 percent) and business services (-5.2 percent vs -11.6 percent). On a seasonally adjusted quarterly basis, the GDP stalled, following a downwardly revised 7.5 percent rise in the previous period.
Published on 2021-05-21

Peru Recession Eases in Q4
Peru's economy shrank by 1.7% year-on-year in the fourth quarter of 2020, following a downwardly revised 19% decline in the previous period. It was the fourth consecutive quarter of economic contraction but at the softest pace in the current sequence. Output fell less in oil, gas and minerals extraction (-3.8% vs -9.8% in Q3): accommodation & food services (-37.8% vs -61.4%); transport & storage (-21.5% vs -28.1%); business services (-11.6% vs -20.1%) and trade (-2.6% vs -7.8%). Additionally, activity rebounded in construction (19% vs -4.1%); manufacturing (1% vs -7.9%) and agriculture (0.4% vs -1.5%). At the same time, notable growth was recorded in fishing activity (34.8% vs 11.3%); finance & insurance (20.6% vs 19.2%) and telecommunications & information services (6.8% vs 6.1%). In 2020, the Peruvian economy tumbled 11.1%, the biggest annual decline since 1989 when the economy shrank by 13.4% at a time of hyperinflation and guerrilla warfare.
Published on 2021-02-23