Peru’s economy shrank 0.4 percent year-on-year in the March quarter of 2023, contracting from a 1.7 percent rise in the previous period. It was the first contractionary quarter since December 2020, led by lower domestic demand (-0.6%) and exports of goods and services (-1.5%). Government consumption spending fell by 1.7%, while private consumption spending edged up 0.2%. Downward pressure also came from an 8.5% decline in gross fixed capital investment as private investment contracted at a faster pace (-10.0%) than public investment (-1.4%). Exports of goods and services slid by 1.5%, while imports shrank by 2.1%. source: Instituto Nacional de Estadística e Informática (INEI)
GDP Annual Growth Rate in Peru averaged 3.33 percent from 1980 until 2023, reaching an all time high of 41.90 percent in the second quarter of 2021 and a record low of -29.60 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 June of 2023.
GDP Annual Growth Rate in Peru is expected to be 1.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Peru GDP Annual Growth Rate is projected to trend around 3.00 percent in 2024, according to our econometric models.