Peru's economy advanced 4.8 percent year-on-year in the last quarter of 2018, following an upwardly revised 2.4 percent expansion in the previous period. Output rose further for fishing (150.7 percent vs 3.4 percent in Q3); manufacturing (11.4 percent vs 1.7 percent); construction (7.9 percent vs 1.1 percent); utilities (6.3 percent vs 3.9 percent); telecommunication services (6.2 percent vs 5.5 percent); public administration (4 percent vs 3.8 percent); and trade (2.5 percent vs 2.2 percent). On the expenditure side, private consumption (3.8 percent vs 2.9 percent); government spending (3.3 percent vs 0.3 percent) and investment (5.3 percent vs 0.6 percent) increased at a faster pace. Also, exports went up 2.2 percent (vs 2.1 percent) and imports increased 0.9 percent (vs 1.1 percent). Considering full 2018, the GDP expanded 4 percent compared to a 2.5 percent growth in 2017. GDP Annual Growth Rate in Peru averaged 3.45 percent from 1980 until 2018, 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.
GDP Annual Growth Rate in Peru is expected to be 4.40 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 4.00 in 12 months time. In the long-term, the Peru GDP Annual Growth Rate is projected to trend around 3.70 percent in 2020, according to our econometric models.