GDP per capita in Peru
Peru - GDP per capita (U.S. Dollars)
Growth jumps in Q3 on sturdier domestic demand
Economic growth accelerated to 3.0% year-on-year (yoy) in the third quarter (Q2: +1.2% yoy), marking the fastest expansion so far this year. According to data released by the Central Bank on 21 November, stronger domestic demand drove the turnaround.
Faster increases in private and public consumption, as well as in private investment, was behind the jump in domestic activity in the third quarter, which expanded 4.1% from Q2’s 1.9%. Notably, fixed investment growth sped up to 5.7% year-on-year (Q2: +5.5% yoy), thanks to stronger private investment, especially in the mining sector and in real estate, while public investment was flat as falling investment from regional governments offset higher investment from the national government. Furthermore, household spending gained traction (Q3: +3.3% yoy; Q2: +2.5% yoy)—amid faster job creation in the formal sector, robust consumer credit and improving sentiment—while government spending jumped 6.6% (Q2: +1.8% yoy), propped up by sustained purchase of goods and services by the national government.
The external sector subtracted 1.0 percentage points from growth in Q3, after subtracting 0.6 percentage points from growth in Q2. Exports contracted 1.5% in Q3 (Q2: -2.0% yoy), dragged down by lower foreign sales of gold and oil, while imports growth accelerated to 2.4% (Q2: +0.5% yoy) on the back of firming domestic demand.
The economy is set to pick up some steam in 2020, following a notable slowdown in 2019, powered by stronger domestic demand and a more benign external backdrop. Fixed investment is seen keeping pace thanks to growing infrastructure spending, while private consumption should benefit from rising consumer confidence. Political uncertainty lingers in the background, however.
FocusEconomics panelists see GDP expanding 3.2% in 2020, which is down 0.1 percentage points from last month’s forecast, and 3.6% in 2021.
Peru - GDP per capita (USD) Data
|GDP per capita (USD)||6,234||5,729||6,209||6,779||6,836|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.0||-0.60 %||Nov 08|
|Exchange Rate||3.31||-0.06 %||Jan 01|
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February 17, 2020
In December, economic activity grew a puny 1.1% year-on-year, decelerating markedly from November’s already unremarkable 1.9% outturn and surprising market expectations on the downside.
February 13, 2020
At its monetary policy meeting on 13 February, the Central Bank of Peru (BCRP) held the policy interest rate steady at 2.25%, the lowest point since July 2010.
February 7, 2020
The business confidence indicator rose from December’s 51.0 points to 53.0 points in January.
February 7, 2020
Consumer prices in Metropolitan Lima rose 0.05% over the previous month in January, down from December’s 0.21% increase.
February 7, 2020
Peru’s trade balance recorded a USD 1.2 billion surplus in December, larger than November’s USD 718 million surplus and matching the USD 1.2 million surplus recorded in the same month last year. Exports rebounded 6.6% year-on-year in December (November: -4.8% year-on-year), boosted by rising foreign sales of mining and agricultural products, only partially offset by falling exports of oil and natural gas.