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.

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Peru GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-9.40 -30.20 21.05 -30.20 1980 - 2020 percent Quarterly
2007=100


Calendar GMT Actual Previous Consensus TEForecast
2020-02-21 03:00 PM Q4 1.8% 3.2% 1.8%
2020-05-22 02:30 PM Q1 -3.4% 1.8% -3%
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%
2021-02-22 03:00 PM Q4 -9.4%
2021-05-21 02:30 PM Q1
2021-08-20 12:00 AM Q2
2021-11-19 11:50 PM Q3


News Stream
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 Economy Shrinks the Most in 19 Years
Peru's economy shrank 3.4 percent year-on-year in the first quarter of 2020, after expanding 1.8 percent in the previous period. It was the sharpest contraction since Q1 2001, amid the coronavirus crisis. Output shrank in trade (-6.2% vs 3.6% in Q4 2019); hotels & restaurants (-10.6% vs 5.3%); oil, gas and minerals extraction (-5.2% vs 2.1%); business services (-1.6% vs 3.3%); and utilities (-2.1% vs 2.4%). In addition, output contracted further in manufacturing (-10% vs -2.3%); and construction (-13.3% vs -4.6%). Also, growth slowed in agriculture, livestock & forestry (2.9% vs 5.3%); financial services (3.5% vs 5.2%); and public administration (2.7% vs 4%). On the expenditure side, private consumption shrank 1.7%, after growing 2.8% in the prior quarter; and fixed investment fell 10%, faster than a 0.5% contraction. Meanwhile, public spending rose 7.2%, after increasing 3.2%. On a quarterly basis, the GDP shrank 5%, after expanding 0.1% in the previous period.
2020-05-22
Peru GDP Growth Slows to 1.8% in Q4
Peru's economy advanced 1.8 percent year-on-year in the last quarter of 2019, slowing from an upwardly revised 3.2 percent expansion in the previous period. Output growth eased in telecommunication & information services (3.5 percent vs 4 percent in Q3); business services (3.3 percent vs 3.7 percent); and utilities (2.4 percent vs 3.7 percent). Also, output shrank in manufacturing (-2.3 percent vs 4.1 percent); construction (-4.6 percent vs 3.3 percent); fishing (-29 percent vs 14 percent). On the expenditure side, public spending increased 3.2 percent, less than a 7.9 percent expansion in the prior period; and private consumption went up 2.8 percent, slowing from a 3.1 percent rise. Additionally, fixed investment contracted 0.5 percent, after growing 5.4 percent in Q3. On a quarterly basis, the GDP advanced 0.7 percent, after a 0.9 percent increase in the prior period. Considering full 2019, the economy expanded 2.2 percent, lower than a 4 percent growth in 2018.
2020-02-21

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.