Peru's economy advanced 2.3 percent year-on-year in the third quarter of 2018, down from an upwardly revised 5.5 percent growth in the previous period. It was the weakest growth rate since in the first quarter of 2017, as oil & gas extraction shrank further (-2.7 percent vs -0.6 percent in Q2). Additionally, growth slowed in construction (0.7 percent vs 7.4 percent); agriculture (5.4 percent vs 10.7 percent); fishing (4.9 percent vs 29.2 percent); manufacturing (1.6 percent vs 10.8 percent); telecommunication services (4.4 percent vs 5.6 percent); transportation & storage (4.5 percent vs 6.4 percent); and finance & insurance (4.9 percent vs 7.2 percent). On the expenditure side, private (2.8 percent vs 5.2 percent) and government spending (0.3 percent vs 3.3 percent) rose less. Also, investment grew 0.5 percent, easing from a 6.7 percent expansion in the prior period. Meantime, exports edged up 0.9 percent (vs 5.6 percent in Q2) and imports inched up 0.7 percent (vs 7.5 percent). GDP Annual Growth Rate in Peru averaged 3.44 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.