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. source: Instituto Nacional de Estadística e Informática (INEI)
GDP Annual Growth Rate in Peru averaged 3.07 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 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 May 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.