Peru's economy advanced 2.3 percent year-on-year in the first quarter of 2019, easing from a 4.8 percent expansion in the previous period. It was the weakest growth rate since the first quarter of 2017, as output shrank in manufacturing (-0.9 percent vs 11.4 percent in Q4) and fishing (-20.3 percent vs 150.7 percent). Also, growth slowed in construction (1.8 percent vs 7.9 percent); utilities (5.9 percent vs 6.3 percent); trade (2.4 percent vs 2.5 percent); transport & storage (2.4 percent vs 3.7 percent); hotels & restaurants (3.6 percent vs 4.3 percent); financial services (4.8 percent vs 4.9 percent) and public administration (4.7 percent vs 4.9 percent). On the expenditure side, private consumption (3.2 percent vs 3.8 percent); government spending (2 percent vs 3.3 percent) and investment (1.4 percent vs 5.3 percent) eased. Additionally, net trade contributed negatively to the GDP, as exports fell 0.7 percent (vs 2.2 percent) and imports rose 1.2 percent (vs 0.9 percent). GDP Annual Growth Rate in Peru averaged 3.45 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.
GDP Annual Growth Rate in Peru is expected to be 4.60 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 3.90 in 12 months time. In the long-term, the Peru GDP Annual Growth Rate is projected to trend around 3.70 percent in 2020, according to our econometric models.