Peru’s economy expanded by 3.3 percent year-on-year in the second quarter of 2022, easing from the 3.8 percent growth seen in the three months leading to March. It was the sixth consecutive quarter of growth in the Peruvian economy, supported by a 4.6 percent expansion in household consumption as the surge in employees working from home supported consumer activity. At the same time, fixed capital formation rose by 1.2 percent, amid a 3.7 percent gain in construction activity. On the other hand, government expenditure contracted by 2.8 percent, as lower spending in healthcare and defence more than offset higher expenditure for public education. source: Instituto Nacional de Estadística e Informática (INEI)

GDP Annual Growth Rate in Peru averaged 3.37 percent from 1980 until 2022, 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 October of 2022.

GDP Annual Growth Rate in Peru is expected to be 1.70 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 2.50 percent in 2023 and 3.00 percent in 2024, according to our econometric models.

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Peru GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-23 09:30 PM Q1 3.8% 3.2% 2.6%
2022-09-15 09:00 PM Q2 3.3% 3.8% 3.3%
2022-11-22 05:00 PM Q3 3.3% 1.7%


Related Last Previous Unit Reference
GDP Growth Rate 0.90 0.00 percent Mar 2022
GDP Annual Growth Rate 3.30 3.80 percent Jun 2022
Full Year GDP Growth 13.30 -11.02 percent Dec 2021
GDP from Utilities 3968.00 3454.00 PEN Million Dec 2021
GDP from Transport 6885.00 6879.00 PEN Million Dec 2021
GDP from Services 16046.00 15035.00 PEN Million Dec 2021
GDP from Public Administration 8540.00 7724.00 PEN Million Dec 2021
GDP from Mining 16139.00 15749.00 PEN Million Dec 2021
GDP from Manufacturing 19035.00 17352.00 PEN Million Dec 2021
GDP from Construction 10071.00 9165.00 PEN Million Dec 2021
GDP from Agriculture 7222.00 7193.00 PEN Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.30 3.80 41.90 -29.60 1980 - 2022 percent Quarterly
2007=100

News Stream
Peru Economy Expands 3.8% in Q1
Peru’s economy advanced 3.8 percent year-on year in the first quarter of 2022, picking up from the 3.2 percent expansion in the previous period as the economy continued to recover from the recession brought by the pandemic. The main contributors to GDP growth were transportation and storage (12.4 percent vs 17.9 percent in Q4), hotels and restaurants (49.4 percent vs 43.3 percent), agriculture (3.7 percent vs 3.8 percent), and commerce (5.9 percent vs 18 percent). On the other hand, output fell for construction (-0.5 percent vs 35.5 percent) and financial services (-5.3 percent vs 6.1 percent). On a seasonally adjusted quarterly basis, the GDP rose by 0.9 percent, after remaining constant during the fourth quarter.
2022-05-23
Peru Economy Expands 3.2% in Q4
Peru’s economy advanced 3.2 percent year-on-year in the fourth quarter of 2021, easing from an 11.4 percent expansion in the previous period as low base effects from the pandemic began to fade. Still, there was an increase in activity and demand, as the economy continued to recover from the recession brought by the pandemic. The main contributors to GDP growth were transportation and storage (14 percent vs 27.4 percent in Q3), hotels and restaurants (45.7 percent vs 100.7 percent), agriculture (5.6 percent vs 10.5 percent), commerce (3.8 percent vs 10 percent), and manufacturing (1.3 percent vs 7.8 percent). On the other hand, output continued to fall for fishing (-7.9 percent vs -39.6 percent). On a seasonally adjusted quarterly basis, the GDP remained constant during the fourth quarter, following an upwardly revised 2.9 percent expansion during Q3. Considering the full 2021, Peru’s economy grew 13.3 percent, rebounding from an 11 percent contraction in 2020.
2022-02-23
Peru Economy Expands 11.4% in Q3
Peru’s economy advanced 11.4 percent year-on-year in the third quarter of 2021, easing from the series record of 41.9 percent in the previous period as low base effects from the pandemic begin to fade. Still, there was an increase in activity and demand, as the economy continued to recover from the recession brought by the pandemic. The main contributors to the GDP growth were commerce (10 percent vs 85.6 percent in Q2), manufacturing (8.4 percent vs 61 percent), construction (23.2 percent vs 230.5 percent), transportation and storage (31.6 percent vs 83.8 percent), and restaurants and hotels (99.4 percent vs 422.8 percent). On the other hand, output fell for fishing and agriculture (-37.9 percent vs 21.1 percent). On a seasonally adjusted quarterly basis, the GDP grew 2.8 percent, following an upwardly revised 0.1 percent contraction in the previous quarter.
2021-11-22