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What does per annum mean?

Looking for the meaning or definition of the word per annum? Here's what it means.

Prepositional phrase
  1. In a year
  2. For a year
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Examples
Its annual growth rate over the last two years has been over 50 per cent per annum which puts it as the fastest-growing industry in the country.
The smelters will require 25000 tons of charcoal per annum which will be produced in retorts supplied by the Belgium company, Lambiotte.
The target is moderate, considering that tax revenues have increased by an average 14.2 percent per annum over the past three years.
The interest accumulates on a daily basis and the rate is 11.75 per cent per annum.
However, revenues are expected to grow at over 100 per cent per annum for the next three years.
The emphasis is on secure long-term investment and the guaranteed returns are currently as low as four per cent per annum.

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