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). 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.
GDP Annual Growth Rate in Peru is expected to be 3.00 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 3.90 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.