Peru's economy advanced 3.0 percent year-on-year in the third quarter of 2019, following a 1.2 percent expansion in the previous period. Output rose further in hotels & restaurants (5.1 percent vs 4.6 percent in Q2); financial services (4.7 percent vs 3.4 percent); business services (3.6 percent vs 3.3 percent); other services (3.6 percent vs 3.5 percent); trade (3.3 percent vs 2.8 percent) and transportation & storage (2.1 percent vs 1.9 percent). Also, output rebounded in fishing (23.7 percent vs -30.2 percent); manufacturing (3.1 percent vs -6.7 percent) and oil extraction (0.3 percent vs -2.3 percent). On the expenditure side, public spending jumped 7.5 percent (vs 3.8 percent in Q2), boosted by roads, education and the Panamerican Games; and private consumption rose 2.9 percent (vs 2.5 percent in Q2). Additionally, fixed investment increased 5.2 percent, recovering from a 0.8 percent contraction. On a quarterly basis, the GDP expanded 0.6 percent.
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. This page provides - Peru GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
GDP Annual Growth Rate in Peru is expected to be 3.70 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 3.70 in 12 months time. In the long-term, the Peru GDP Annual Growth Rate is projected to trend around 3.40 percent in 2021 and 3.70 percent in 2022, according to our econometric models.