Peru: Gross domestic product (GDP) in current prices from 1984 to 2024
(in billion U.S. dollars)
Gross domestic product (GDP) in Peru 2024
The statistic shows gross domestic product (GDP) in Peru from 1984 to 2018, with projections up until 2024. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. In 2018, Peru's gross domestic product amounted to around 225.37 billion U.S. dollars.

Dropping mineral prices affect Peru's economy

The economy of Peru is still strong and the prospect of significant future growth still remains, but overall GDP appears to be waning after a period of significant growth which took place between 2010 and 2013. The annual growth rate of Peruvian GDP was as high as 8.45 percent in 2010. Yet, the annual growth rate for 2014 was only a quarter of that, and future growth rates are expected to linger at around 4 percent.

Much of this earlier growth can be attributed to the country’s mineral wealth in copper, silver, lead, zinc, oil and gold, but over the years, the price of many of these minerals has been on a decline. The price of many of these mineral resources began to decline in 2011, some decreasing significantly in price and others less so. The copper price has decreased, as has the price of lead and gold. The price of silver dropped significantly, too, and the impact of falling oil prices is being felt around the world. Zinc is the only aforementioned mineral whose price has remained stable. As the economy of Peru is directly linked to these resources and industry composes close to a 40 percent share of GDP, it is no wonder the economy of Peru has been impacted.
Peru: Gross domestic product (GDP) in current prices from 1984 to 2024
(in billion U.S. dollars)
Gross domestic product in billion U.S. dollars
2024*298.84
2023*282.82
2022*267.69
2021*253.44
2020*240.18
2019*228.99
2018225.37
2017214.19
2016194.39
2015191.32
2014202.31
2013202.12
2012 192.93
2011 170.84
2010 148.82
2009 121.36
2008 121.78
2007 102.19
2006 87.89
2005 74.97
2004 66.71
2003 59.05
2002 54.45
2001 51.61
2000 51.01
1999 49.38
1998 54.6
1997 56.91
1996 54.09
1995 52.14
1994 43.79
1993 34.33
1992 35.38
1991 33.99
1990 28.33
1989 40.7
1988 32.98
1987 41.68
1986 25.24
1985 16.82
1984 19.44
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Source

Release date

October 2019

Region

Peru

Survey time period

1984 to 2018

Supplementary notes

* Estimate.

Figures have been rounded for better understanding of the statistic.

Gross domestic product (GDP) in Peru 2024
The statistic shows gross domestic product (GDP) in Peru from 1984 to 2018, with projections up until 2024. Gross domestic product (GDP) denotes the aggregate value of all services and goods produced within a country in any given year. GDP is an important indicator of a country's economic power. In 2018, Peru's gross domestic product amounted to around 225.37 billion U.S. dollars.

Dropping mineral prices affect Peru's economy

The economy of Peru is still strong and the prospect of significant future growth still remains, but overall GDP appears to be waning after a period of significant growth which took place between 2010 and 2013. The annual growth rate of Peruvian GDP was as high as 8.45 percent in 2010. Yet, the annual growth rate for 2014 was only a quarter of that, and future growth rates are expected to linger at around 4 percent.

Much of this earlier growth can be attributed to the country’s mineral wealth in copper, silver, lead, zinc, oil and gold, but over the years, the price of many of these minerals has been on a decline. The price of many of these mineral resources began to decline in 2011, some decreasing significantly in price and others less so. The copper price has decreased, as has the price of lead and gold. The price of silver dropped significantly, too, and the impact of falling oil prices is being felt around the world. Zinc is the only aforementioned mineral whose price has remained stable. As the economy of Peru is directly linked to these resources and industry composes close to a 40 percent share of GDP, it is no wonder the economy of Peru has been impacted.
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