Peru Economic Activity April 2018


Peru: Economic activity surges at the fastest pace in five years in April

June 15, 2018

Economic activity accelerated strongly in April, jumping 7.8% year-on-year, double the 3.9% annual growth rate observed in March. April’s result marked the fourth consecutive acceleration, following three successive months of softening growth in Q4 2017.

A supportive external sector and strengthening domestic demand drove growth in April. Exports rose on the back of growing sales of mining, agricultural, metal-mechanical and fishing products to buyers abroad. The annual pace of export growth in April was buoyant, coming in at double-digit. On the domestic demand side, retail sales expanded solidly, and consumer credit gathered pace compared to the previous month. Moreover, soaring imports of non-durable goods were a further testimony to robust domestic demand.

Annual economic growth in April was generally broad-based, with the hydrocarbons, agriculture, fishing, transport, manufacturing and telecommunications sectors leading the way. However, The mining sector contracted slightly in April, mainly due to a one-week shutdown at the Las Bambas mining plant and the road blockade in the Matarani port.

Consequently, annual average variation in economic activity came in at an over one-year high of 3.1% in April, up from March’s 2.5%.

Peru GDP Forecast

LatinFocus Consensus Forecast panelists expect GDP will expand 4.0% in 2018, which is down 0.1 percentage points from last month’s projection. For 2019, the panel expects the economy to grow 3.4%.

Author: Massimo Bassetti, Economist

Sample Report

Looking for forecasts related to Economic Activity in Peru? Download a sample report now.


Peru Economic Activity Chart

Peru Economic Activity April 2018

Note: Year-on-year changes of economic activity and annual average growth rate in %.
Source: Peru National Statistical Institute (INEI) and FocusEconomics calculations.

Peru Economic News

  • Peru: Economic activity growth picks up in February

    April 15, 2019

    Economic activity expanded 2.1% year-on-year in February, picking up some pace from January’s subdued 1.6% increase, which had marked the weakest reading in over one year.

    Read more

  • Peru: Central Bank stands pat at March meeting

    April 12, 2019

    At its monetary policy meeting on 11 April, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.

    Read more

  • Peru: Consumer confidence plummets in March

    April 6, 2019

    The consumer confidence indicator published by GfK tumbled to 94 in March from 104 in February, which had marked the best result in over two years.

    Read more

  • Peru: Trade surplus narrows further in February on dwindling exports

    April 5, 2019

    Peru’s trade balance recorded a USD 326 million surplus in February, narrowing from January’s USD 449 million surplus and also lower than the USD 552 million surplus recorded in the same month of last year. Exports declined 3.8% year-on-year in February, due to a drop in prices, following January’s sharper 4.1% fall.

    Read more

  • Peru: Businesses grow more optimistic in March

    April 5, 2019

    The business confidence indicator rose from February’s 58.5 to 59.6 in March, and thus moved further above the 50-point threshold that separates optimism from pessimism, where it has been for almost two years. March’s improvement came chiefly on the back of better prospects on the general economic situation, as well as on demand prospects.

    Read more

More news

Search form