Peru's economy shrank 3.4 percent year-on-year in the first quarter of 2020, after expanding 1.8 percent in the previous period. It was the sharpest contraction since Q1 2001, amid the coronavirus crisis. Output shrank in trade (-6.2% vs 3.6% in Q4 2019); hotels & restaurants (-10.6% vs 5.3%); oil, gas and minerals extraction (-5.2% vs 2.1%); business services (-1.6% vs 3.3%); and utilities (-2.1% vs 2.4%). In addition, output contracted further in manufacturing (-10% vs -2.3%); and construction (-13.3% vs -4.6%). Also, growth slowed in agriculture, livestock & forestry (2.9% vs 5.3%); financial services (3.5% vs 5.2%); and public administration (2.7% vs 4%). On the expenditure side, private consumption shrank 1.7%, after growing 2.8% in the prior quarter; and fixed investment fell 10%, faster than a 0.5% contraction. Meanwhile, public spending rose 7.2%, after increasing 3.2%. On a quarterly basis, the GDP shrank 5%, after expanding 0.1% in the previous period.

GDP Annual Growth Rate in Peru averaged 3.43 percent from 1980 until 2019, reaching an all time high of 21.05 percent in the fourth quarter of 1986 and a record low of -20.94 percent in the first quarter of 1989. This page provides - Peru GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Peru GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.

GDP Annual Growth Rate in Peru is expected to be -7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Peru to stand at 2.30 in 12 months time. In the long-term, the Peru GDP Annual Growth Rate is projected to trend around 3.70 percent in 2021 and 3.30 percent in 2022, according to our econometric models.

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Peru GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-3.40 1.80 21.05 -20.94 1980 - 2020 percent Quarterly
2007=100


Calendar GMT Actual Previous Consensus TEForecast
2019-08-22 10:00 PM Q2 1.2% 2.4% 1.5%
2019-11-21 11:50 PM Q3 3.0% 1.2% 3%
2020-02-21 03:00 PM Q4 1.8% 3.2% 1.8%
2020-05-22 02:30 PM Q1 -3.4% 1.8% -3%
2020-08-21 10:00 PM Q2 -3.4% -15%
2020-11-20 11:50 PM Q3 -7%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Peru Economy Shrinks the Most in 19 Years
Peru's economy shrank 3.4 percent year-on-year in the first quarter of 2020, after expanding 1.8 percent in the previous period. It was the sharpest contraction since Q1 2001, amid the coronavirus crisis. Output shrank in trade (-6.2% vs 3.6% in Q4 2019); hotels & restaurants (-10.6% vs 5.3%); oil, gas and minerals extraction (-5.2% vs 2.1%); business services (-1.6% vs 3.3%); and utilities (-2.1% vs 2.4%). In addition, output contracted further in manufacturing (-10% vs -2.3%); and construction (-13.3% vs -4.6%). Also, growth slowed in agriculture, livestock & forestry (2.9% vs 5.3%); financial services (3.5% vs 5.2%); and public administration (2.7% vs 4%). On the expenditure side, private consumption shrank 1.7%, after growing 2.8% in the prior quarter; and fixed investment fell 10%, faster than a 0.5% contraction. Meanwhile, public spending rose 7.2%, after increasing 3.2%. On a quarterly basis, the GDP shrank 5%, after expanding 0.1% in the previous period.
2020-05-22
Peru GDP Growth Slows to 1.8% in Q4
Peru's economy advanced 1.8 percent year-on-year in the last quarter of 2019, slowing from an upwardly revised 3.2 percent expansion in the previous period. Output growth eased in telecommunication & information services (3.5 percent vs 4 percent in Q3); business services (3.3 percent vs 3.7 percent); and utilities (2.4 percent vs 3.7 percent). Also, output shrank in manufacturing (-2.3 percent vs 4.1 percent); construction (-4.6 percent vs 3.3 percent); fishing (-29 percent vs 14 percent). On the expenditure side, public spending increased 3.2 percent, less than a 7.9 percent expansion in the prior period; and private consumption went up 2.8 percent, slowing from a 3.1 percent rise. Additionally, fixed investment contracted 0.5 percent, after growing 5.4 percent in Q3. On a quarterly basis, the GDP advanced 0.7 percent, after a 0.9 percent increase in the prior period. Considering full 2019, the economy expanded 2.2 percent, lower than a 4 percent growth in 2018.
2020-02-21
Peru Economy Expands 3% in Q3
Peru's economy advanced 3.0 percent year-on-year in the third quarter of 2019, following a 1.2 percent expansion in the previous period. Output rose further in hotels & restaurants (5.1 percent vs 4.6 percent in Q2); financial services (4.7 percent vs 3.4 percent); business services (3.6 percent vs 3.3 percent); other services (3.6 percent vs 3.5 percent); trade (3.3 percent vs 2.8 percent) and transportation & storage (2.1 percent vs 1.9 percent). Also, output rebounded in fishing (23.7 percent vs -30.2 percent); manufacturing (3.1 percent vs -6.7 percent) and oil extraction (0.3 percent vs -2.3 percent). On the expenditure side, public spending jumped 7.5 percent (vs 3.8 percent in Q2), boosted by roads, education and the Panamerican Games; and private consumption rose 2.9 percent (vs 2.5 percent in Q2). Additionally, fixed investment increased 5.2 percent, recovering from a 0.8 percent contraction. On a quarterly basis, the GDP expanded 0.6 percent.
2019-11-22
Peru GDP Growth Slows to Near 10-Year Low
Peru's economy grew 1.2 percent year-on-year in the second quarter of 2019, following an upwardly revised 2.4 percent advance in the previous three-month period. That was the weakest rate of expansion since the third quarter of 2009 as household consumption rose at a softer pace (2.5 percent vs 3.2 percent) and net external demand contributed negatively to the GDP growth, with exports slumping 2.9 percent (vs 0.8 percent in Q1) and imports increasing 0.6 percent (vs 0.5 percent in Q1). Meanwhile, fixed capital investment jumped 5.8 percent (vs 1.5 percent in Q1) and government spending advanced 3.8 percent (vs 1.9 percent in Q1).
2019-08-22

Peru GDP Annual Growth Rate
Peru is one of the fastest growing economies in Latin America. The services sector is the most important and accounts for 60 percent of GDP. The biggest segments within services are: wholesale and retail trade (17 percent of total GDP); other services (11 percent); transport and communications (10 percent); services provided to companies (8 percent) and government services (6 percent). Manufacturing creates 16 percent of the wealth and construction and water, gas and electricity distribution 10 percent. The agriculture and fishing sector fuels 9 percent of the GDP and the mining sector accounts for the remaining 5 percent.