Peru’s economy advanced 1.7 percent year-on-year in the third quarter of 2022, slowing from a 3.3 percent expansion in the previous period, as tightening financial conditions dragged on economic activity. Private consumption (3 percent) and gross fixed capital formation (1.9 percent) increased, while government spending fell (2.5 percent). Regarding net trade, exports advanced 1.8 percent while imports grew 9.0 percent. source: Instituto Nacional de Estadística e Informática (INEI)

GDP Annual Growth Rate in Peru averaged 3.36 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 January of 2023.

GDP Annual Growth Rate in Peru is expected to be 2.70 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 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
2022-09-15 09:00 PM Q2 3.3% 3.8% 3.3%
2022-11-22 05:00 PM Q3 1.7% 3.3% 1.7%
2023-02-23 05:00 PM Q4 1.7% 1.5%


Related Last Previous Unit Reference
GDP Growth Rate 3.50 0.90 percent Jun 2022
GDP Annual Growth Rate 1.70 3.30 percent Sep 2022
Full Year GDP Growth 13.30 -11.02 percent Dec 2021
GDP from Utilities 3567.00 3420.00 PEN Million Sep 2022
GDP from Transport 7886.00 7255.00 PEN Million Sep 2022
GDP from Services 15316.00 15016.00 PEN Million Sep 2022
GDP from Public Administration 7587.00 7395.00 PEN Million Sep 2022
GDP from Mining 14533.00 15170.00 PEN Million Sep 2022
GDP from Manufacturing 19064.00 18988.00 PEN Million Sep 2022
GDP from Construction 9734.00 9450.00 PEN Million Sep 2022
GDP from Agriculture 10592.00 10334.00 PEN Million Sep 2022

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
1.70 3.30 41.90 -29.60 1980 - 2022 percent Quarterly
2007=100

News Stream
Peru Economy Expands 1.7% in Q3 2022
Peru’s economy advanced 1.7 percent year-on-year in the third quarter of 2022, slowing from a 3.3 percent expansion in the previous period, as tightening financial conditions dragged on economic activity. Private consumption (3 percent) and gross fixed capital formation (1.9 percent) increased, while government spending fell (2.5 percent). Regarding net trade, exports advanced 1.8 percent while imports grew 9.0 percent.
2022-11-22
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