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.

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Peru GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-23 05:00 PM Q4 1.7% 1.7% 1.5%
2023-05-23 09:40 PM Q1 -0.4% 1.7% -0.4%
2023-09-15 05:00 PM Q2 1.6%


Related Last Previous Unit Reference
GDP Growth Rate 3.50 0.90 percent Jun 2022
GDP Annual Growth Rate -0.40 1.70 percent Mar 2023
Full Year GDP Growth 2.68 13.30 percent Dec 2022
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
-0.40 1.70 41.90 -29.60 1980 - 2023 percent Quarterly
2007=100

News Stream
Peruvian GDP Contacts in Q1
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%.
2023-05-23
Peruvian GDP Continues to Grow
Peru’s economy grew 1.7 percent year-on-year in the fourth quarter of 2022, expanding at a steady pace from the previous period despite the country’s political unrest. Growth was supported by domestic demand (2.1 percent), carried by household consumption (2.3 percent). Gross fixed capital production also saw an increase (2.6 percent), as soaring public investing (23.4 percent) outweighed the decline in private investing (-1.8 percent). In the meantime, government expenditure contracted by 4.1 percent. Also, net foreign demand contributed negatively to the Peruvian economy, as exports grew 0.1 percent and imports jumped by a shaper 1.9 percent.
2023-02-23
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