Peru to grow 7.9 per cent in 2021, to record highest growth rate in Latine America

Lima. Photo by the ANDAINA news agency. Sketched by the Pan Pacific Agency.

LIMA, Jul 20, 2020, ANDINA. FocusEconomics analysts estimate the Peruvian economy will increase 7.9% in 2021, that is, a growth rate higher than Latin America’s (4.0%) and the world’s (5.2) average. In addition, Peru’s growth rate will be higher than the United States (4.6%), the Euro Area (5.7%), China (7.6%), and Japan (2.6%) rates next year, ANDINA reported.

Last June, panelists participating in the LatinFocus Consensus Forecast projected that Peru’s GDP would expand 6.8% in 2021.

Peru will record the highest GDP growth in Latin America next year (7.9%), followed by Argentina and Chile, with 5.2% and 4.8% respectively, the latest FocusEconomics’ LatinFocus Consensus Forecast report has highlighted.

Paraguay would come next (4.7%), followed by Colombia (4.1%), Uruguay (3.8%), Bolivia (3.8%), Brazil (3.7%), Mexico (3.3%) and Ecuador (3%).


Panelists surveyed for this month’s LatinFocus report expect Peruvian GDP to contract 10.5% in 2020, which is down 2.2 percentage points from last month’s projection.

The other economies seeing a contraction this year are Mexico (-8.5%), Ecuador (-8.1%), Brazil (-6.7%), Chile (-6.0%), Colombia (-5.2%), Bolivia (-4.5%), Uruguay (-3.8%) and Paraguay (-2.0%).

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