Peru | Growth continues to be driven by non-primary sectors

Peru's economic activity grew 3.2% year-on-year in August, led by non-primary sectors (+4.3%), such as construction and commerce. In contrast, primary sectors contracted by 1.2%, affected by the decline in fishing and mining. Between January and August, GDP accumulated an expansion of 3.1%.

Key points

• Key points:
• Primary GDP contracted by 1.2% year-on-year in August, with notable declines in Fishing (-17.3%) due to sea warming and Metallic Mining (-6.1%) due to lower copper production.
• The non-primary sector, the engine of growth, advanced by 4.3% thanks to the dynamism of Construction (+10.3%) and Commerce (+6.9%), the latter driven by retail sales.
• The agricultural sector was an exception within the primary sectors, growing by 3.4% year-on-year, driven by larger cultivated areas and favorable weather conditions.
• For September, investment indicators showed an acceleration, with capital goods imports growing by 23.0%, while consumption indicators moderated.
• The Peruvian economy is forecast to expand by 2.9% for the full year 2026, despite an expected slowdown in the fourth quarter due to climate anomalies.

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