GDP in Peru
Peru - GDP
GDP growth improves in the first quarter
According to a preliminary reading, GDP growth sped up to 3.8% year on year in the first quarter, from 3.4% in the fourth quarter of last year.
The upturn reflected a broad-based improvement in private consumption, public spending, fixed investment and exports. Private consumption increased 6.9% in the first quarter, which was above the fourth quarter's 5.5% expansion. Government spending bounced back, growing 11.3% in Q1 (Q4 2021: -2.7% yoy). Meanwhile, fixed investment slid at a softer pace of 1.3% in Q1, from the 2.6% contraction in the previous quarter.
On the external front, exports of goods and services increased 8.2% on an annual basis in the first quarter, which was above the fourth quarter's 5.8% expansion. Conversely, imports of goods and services growth moderated to 2.6% in Q1 (Q4 2021: +7.0% yoy).
On a seasonally-adjusted quarter-on-quarter basis, GDP declined 0.5% in Q1, contrasting the previous period's 0.7% increase. Q1's reading marked the sharpest decrease since Q1 2021.
FocusEconomics panelists project the economy to grow 3.1% in 2022, which is down 0.1 percentage points from last month’s forecast, and 3.0% in 2023.
Peru - GDP Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 3.3 | 4.1 | 2.5 | 4.0 | 2.2 |
Peru GDP Chart
Source: Peru Central Bank and FocusEconomics calculations.
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.0 | -0.60 % | Nov 08 |
| Exchange Rate | 3.31 | -0.06 % | Jan 01 |
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Economic News
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Peru: Economic activity growth dips in April
June 20, 2022
Economic activity increased 3.7% compared to the same month a year earlier in April, which was a deterioration from March's 3.8% increase.
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Peru: Merchandise exports grow at a more moderate pace in April
June 13, 2022
Merchandise exports grew 12.0% over the same month last year in April (March: +26.3% year-on-year).
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Peru: Central Bank raises rates for eleventh consecutive time at June meeting
June 10, 2022
At its 9 June meeting, the Central Bank of Peru raised its key policy interest rate by 50 basis points from 5.00% to 5.50%, pushing it to its highest level since April 2009.
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Peru: Inflation comes in at highest level since May 1998 in May
June 9, 2022
Consumer prices rose 0.38% from the previous month in May, below the 0.96% rise logged in April.
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Peru: GDP growth improves in the first quarter
June 2, 2022
According to a preliminary reading, GDP growth sped up to 3.8% year on year in the first quarter, from 3.4% in the fourth quarter of last year.
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