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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Peru GDP Growth (1961-2023)
Peru’s GDP growth reveals a pattern of resilience and sharp fluctuations. The 1980s brought contractions due to hyperinflation, while liberalization in the 1990s spurred growth, peaking at 12.3% in 1994. After sustained growth into the 2000s, the pandemic in 2020 led to a steep -10.9% contraction, but recovery in 2021 brought 13.4% growth. By 2023, growth slowed to -0.6% as political instability and global economic shifts impacted performance.
For a deeper dive into the topic, explore Peru’s military spending, Peru’s population stats, Peru’s GDP data.
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