The latest figures from the UN Economic Commission for Latin America (ECLAC) put Peru’s growth rate for 2019 at no more than 2.3%. As the year has progressed, it has pared its estimates downwards. In April, it forecasted growth of 3.6%. This dropped to 3.2% in July and 2.5% last month. GDP expanded by 4% in 2018.
Still, Peru’s growth rate still contrasts favorably with the average for Latin America this year. This will be only around 0.1%.
The main reason for the decline in growth this year has been the drop in demand for mineral products, especially copper.