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. source: Instituto Nacional de Estadística e Informática (INEI)

GDP Annual Growth Rate in Peru averaged 3.07 percent from 1980 until 2021, reaching an all time high of 21.05 percent in the fourth quarter of 1986 and a record low of -30 percent in the second quarter of 2020. 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 July of 2021.

GDP Annual Growth Rate in Peru is expected to be 28.00 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 2.70 in 12 months time. In the long-term, the Peru GDP Annual Growth Rate is projected to trend around 5.40 percent in 2022 and 4.20 percent in 2023, according to our econometric models.

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Peru GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.80 -1.70 21.05 -30.00 1980 - 2021 percent Quarterly
2007=100


Calendar GMT Actual Previous Consensus TEForecast
2020-08-21 12:00 AM Q2 -30.2% -3.5% -20%
2020-11-20 05:30 PM Q3 -9.4% -29.8% -10.5%
2021-02-23 02:00 PM Q4 -1.7% -9% -3.2%
2021-05-21 02:30 PM Q1 3.8% -1.7%
2021-08-20 12:00 AM Q2 3.8%
2021-11-19 11:50 PM Q3


News Stream
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.
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.
2021-02-23
Peru GDP Shrinks 9.4% YoY in Q3
Peru's economy shrank 9.4% year-on-year in the third quarter of 2020, following a downwardly revised 29.8% decline in the previous period. It was the third consecutive contraction following the sharpest on record, extending a recession as the coronavirus pandemic hit the economy. On the expenditure side, output was mainly dragged by a 23.6% contraction in gross fixed public investment (-69% in Q2), much steeper than a 6.8% fall in private investment (-52.5%). In contrast, government consumption rose 3.5%, whereas private spending sank 9.3%. Meanwhile, exports shrank 25.6% (vs -38.9%) and imports 20.4% (-32.1%). By sector, services fell 10.1% (vs -28.1% in Q2), mining dropped 8.0% (vs -20%), and industrial production sank 8.3% (vs -44.1%). Year-to-date, GDP is down 14.5%.
2020-11-20
Peru Economy Enters Recession
Peru's economy shrank 30.2% year-on-year in the second quarter of 2020, following an upwardly revised 3.5% decline in the previous period. It was the second consecutive contraction and the sharpest on record, entering a recession as the coronavirus pandemic hit the economy. Output shrank further mainly for oil, gas and minerals extraction (-34.1% vs -5.2% in Q1); trade (-45.4% vs -7.1%); hotels & restaurants (-89.8% vs -11.2%); manufacturing (-34.3% vs -10%); construction (-67.2% vs -13.1%); business services (-43.1% vs -2.2%); utilities (-19.4% vs -2.1%); and fishing (-15.8% vs -15.3%). On the expenditure side, private consumption slumped 22.1%, faster than a 1.7% contraction; public spending shrank 3.2%, after growing 7.2%; and fixed investment plunged 57.7%, following a 13.3% drop. Exports tumbled 40.3% (vs -6.2% in Q1) and imports fell at a softer 30.4% (vs -5.3% in Q1). On a quarterly basis, the GDP shrank 27.2%, the most on record after contracting 6.3% in the prior period.
2020-08-21

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.