Peruvian economy grew 4.07 % in January of 2025

The National Institute of Statistics and Informatics (INEI) informed that the national production increased 4.07% in January of 2025, compared to the same month of the last year; and 3.53% in the last twelve months (February 2024-January 2025) compared to the period February 2023 – January 2024.

In the technical report National Production is stated that the result of the first month of 2025, compared to the month of January of 2024, was influenced by the positive behavior of almost all sectors, outstanding manufacturing (5.53 %), other services (4.25 %), transportation, storage and courier (7.85 %), commerce (3.16 %), services of government (4.44 %), construction (4.13 %) and agro-livestock (3.24 %), that together represent more than 65 % of the monthly result. Followed by the mining and hydrocarbons sectors (1.39 %), services provided to companies (4.24 %), accommodation and restaurants (3.32 %), fishing (23.51 %), electricity, gas and water (1.46 %), and telecommunications (0.23 %). On the other hand, the financing and insurance sector registered a negative result (-0.35 %).

During January of 2025, the agro-livestock sector grew 3.24 %, compared to the same month of 2024, influenced by the positive behavior of the agriculture subsector (3.10 %) due to the greater production of mango (532.2 %), starchy maize (373.5 %), strawberry (254.6 %), onion (19.8 %), sugar cane (14.3 %), grape (10.8 %) and potato (9.0 %), mainly; due to the greater sown and harvested area of the main crops.

The same behavior registered the livestock subsector that increased by 3.46 %, due to the greater production of poultry (4.7 %), swine (4.3 %), fresh milk (3.6 %) and beef cattle (0.9 %).

During January of 2025, the production of Fishing sector increased 23.51 %, compared to the same month of 2024, as a consequence of the greater extraction of species of maritime origin (26.50 %), due to the increase in the capture of resources intended for indirect human consumption (anchovy for fishmeal and fish oil). Meanwhile, fishing for direct human consumption decreased (-32.91 %) of species destined to frozen (-51.5 %), preparation of canning (-12.3 %) and for consumption in fresh state (-7.4 %).

On the other hand, the fishing of continental origin reduced by 0.83 % during the month under analysis, due to the lower extraction of species for consumption in fresh state (-2.9%); nevertheless, the preparation for frozen (7.5 %) and preparation of curing (6.6 %) increased.

During the first month of 2025, the production of mining and hydrocarbons sector increased 1.39 %, compared to the same month of 2024, influenced by the increase of the of the metal-mining activity (3.20 %) due to the greater extraction of copper (7.3 %), molybdenum (24.0 %), silver (4.5 %), iron (3.1 %) and tin (0.3 %); meanwhile, it reduced the production of gold (-15.9 %), zinc (-12.2 %) and lead (-4.9 %). The hydrocarbons subsector registered a negative result (-9.12 %) due to the lower volume of exploitation of natural gas liquids (-18.3 %) and natural gas (-11.6 %); nevertheless, it was registered a greater extraction of crude petroleum (8.8 %).

During January of 2025, the manufacturing sector increased by 5.53 % compared to the month of January of 2024, due to the positive result of the primary (17.15 %) and non-primary (1.67 %) manufacturing subsector.

The behavior of the primary manufacturing subsector during the first month of the year was based in the greater activity in the processing and preserving of fish, crustaceans and molluscs (103.84 %), manufacture of products of the oil refinery (18.94 %) and preparation and preserving of meat (4.09 %). Nevertheless, it reduced the production of the primary products of precious metals and other non-ferrous metals (-6.68 %) and sugar preparation (-4.64 %). In the non-primary manufacturing subsector increased the production of the industry of consumer goods (3.06 %) and capital goods (22.54 %); meanwhile it reduced the activity of intermediate goods (-0.50 %).

During the month under analysis, the electricity, gas and water production increased by 1.46% compared to the month of January of 2024, influenced by the greater generation of electric energy (1.45 %) and potable water production (1.78 %), dimmed by the lower distribution of gas by 0.23%.

In the electricity subsector, the production of energy of non-conventional renewable origin (Eolic-solar) increased by 28.4 % and of hydroelectric origin by 3.1 %; meanwhile, the generation of thermoelectric energy reduced by 8.1 %. In the water subsector, it outstood the high production of Seda Chimbote (12.5 %), Sedapal (3.0 %) and Epsel (2.7 %). The reduction of the gas distribution was based in the lower demand of the Companies (-12.9 %) and of the Power Generators (-0.4 %); nevertheless, there was a greater demand of gas stations establishments of Vehicular Natural Gas (8.0 %).

During the month of January of 2025, the construction sector increased by 4.13 %, compared to the same month of the last year, due to the physical progress of public works (45.59 %), which was dimmed by the lower domestic cement consumption (-2.93 %).

The physical progress of public works was registered in the three levels of government, in works of non-residential buildings (educational centers, health establishments); of road infrastructure (road network, vehicular and pedestrian traffic flow in urban and rural zones); works of basic services (service of potable water and sewerage, irrigation and drainage system) and works of prevention of risks (river defenses and other protection services). Meanwhile the reduction of the domestic cement consumption was associated to the lower progress of works of the private sector, such as projects of the mining sector, agro-industry sector, electric sector, real-estate projects, works in new commercial facilities, among others.

During the month of January of 2025, the commercial sector increased 3.16 % compared to the same month of 2024, due to the positive behavior of the wholesale trade (2.93 %), due to the greater commercialization of metals and metal ores (copper, steel); nutritional supplement for animals (poultry and livestock); equipment of computer security; natural energizer products; equipment of electronic security; solid, liquid and gas fuels; and lubricants; heavy machinery before the demand of mining, construction and agriculture sectors.

In addition, during January of 2025 the retail trade commerce grew by 3.63 %, compared to the same month of the last year, due to the greater sale of computers, printers, peripheral equipment and computer programs; better sales in supermarkets, hypermarkets and minimarkets; pharmaceutical and medicinal products, cosmetics and toiletries, influenced by the discounts and new products line for skincare.

Meanwhile, in the automotive trade (3.46 %) outstood the greater demand of (light and heavy duty) vehicles and its maintenance and repair, due to the tenders and financing facilities. In addition, the sale, the maintenance and the repair of motorcycles and its parts, pieces and accessories, driven by the performance of fairs and advertising campaigns.

During the first month of the year, the transportation, storage and Courier sector increased by 7.85 %, compared to the same month of 2024, due to the positive behavior of the transportation (4.96 %) and the storage and courier (15.21 %) subsectors.

In the transportation subsector was observed a greater traffic by land and by pipping (2.19 %) before the greater movement by road of passengers (1.9 %) and load (2.8 %). In addition, it was energized by the railway transport (45.6 %) due to the increase of movement of passengers and load. The air transportation (10.05 %) due to the greater movement of passengers and national and international cargo. The transportation by waterways (14.00 %) due to the movement of merchandise and passengers by waterways; as well as the movement of cargo by inland waterways. In the storage and Courier subsector was registered a greater demand of storage service and support activities to the transportation (15.47 %), as well as postal and courier services (10.48 %).

During January of 2025, the accommodation and restaurants sector increased by 3.32%, compared to the month of January of 2024, due to the dynamism of the restaurants subsector (3.17 %) and the accommodation subsector (4.70 %).

In the restaurants subsector it outstood the positive behavior of the restaurants service (3.03 %), food services for transportation and catering companies (5.50 %) and beverage services (0.14 %); nevertheless, catering service decreased (-5.86 %).

During the first month of 2025, the telecommunications and other services of information recovered by 0.23 %, compared to the same month of the last year, influenced by the positive result of the other services of information subsector (5.13 %); meanwhile that the telecommunications subsector contracted by 0.36 %.

The increase of other services of information subsector was based in the greater activity of production and screening of films and TV programs (9.6 %); activities of computer programming (6.6 %) and publishing activities (3.0 %).

The negative behavior of telecommunications subsector was explained by the decrease of telephone services (-2.2 %) and services of data transmission (-1.2 %); attenuated by the increase of Internet service and pay television (2.3 %).

During the first month of 2025, the financial and insurance sector reduced by 0.35 % compared to January of 2024, due to the negative behavior of the multiple banking loans (-0.60 %), dimmed by the increase of the multiple banking deposits (8.19 %).

By segment, there were registered lower consumer loans (-3.2 %) and business loans (-0.8 %); meanwhile it increased the mortgage loans (3.2 %). According to destination sector, there were channeled lower amounts to community services; real state, business and rental activities, manufacturing industry; construction; private households with domestic service; mining and fishing.

Meanwhile, the increase of deposits of multiple banking during January of 2025, was determined by the favorable performance of savings deposits (11.3%), demand deposits (10.8%) and time deposits (3.92%).

During the month of January of 2025, the sector services provided to companies increased by 4.24 % compared to the same month of the last year, due to the greater activity of travel agencies and tour operators (18.2 %), advertising and marketing research (4.7 %), administrative services and business support activities (4.7 %) and professional, scientific and technical activities (3.0 %).

The Government services registered during January of 2025 a variation of 4.44%, compared to the same month of the last year, due to the greater activities performed by the institutions of the public administration with the increase of 4.31 %, defense by 6.03 % and other services of government by 4.67 %.