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%. source: Instituto Nacional de Estadística e Informática (INEI)
GDP Annual Growth Rate in Peru averaged 3.09 percent from 1980 until 2020, reaching an all time high of 21.05 percent in the fourth quarter of 1986 and a record low of -30.20 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 November of 2020.
GDP Annual Growth Rate in Peru is expected to be -10.00 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 15.00 in 12 months time. In the long-term, the Peru GDP Annual Growth Rate is projected to trend around 8.50 percent in 2021 and 3.30 percent in 2022, according to our econometric models.