National production grew 3.68% in February of 2026 and in the first two months of this year by 3.61%

During February of 2026, the national production increased in 3.68%, compared to the same month of the year 2025, explained by the favourable behavior of most sectors including: Commerce; Other Services; Construction; Manufacturing; Transportation, Storage and Courier; Government Services; Accommodation and Restaurants; Services Provided to Companies; Electricity, Gas and Water; as well as Agribusiness and Telecommunications. On the other hand, showed an unfavourable behavior the following sectors: Fishing; Mining and Hydrocarbons, as well as Financing and Insurance.

In that regard, the chief of the National Institute of Statistics and Informatics (INEI), Dr. Gaspar Morán Flores stated that during the first two months of 2026, the productive activity of the country accumulated a growth of 3.61% and during the annualized period March 2025 – February 2026 of 3.44%.

During February of 2026, the Agribusiness sector reached a growth of 0.71%, compared to the same month of 2025, based in the positive result of the livestock subsector by 1.84%, meanwhile that the agriculture subsector decreased by 0.13%.

In the livestock subsector were observed the greatest volumes of production of swine (3.8%); fresh milk (2.4%); beef cattle (1.9%) and poultry (1.8%). Meanwhile, in the agriculture subsector were registered lower volumes of corn (-14.1%), mandarin (-16.4%), coffee (-18.2%), tomato (-25.7%), sweet potato (-29.6%) and paprika (-81.5%), which was dimmed with the greater production of oil palm (48.4%), avocado (14.5%), hard yellow corn (13.7%) and sugar cane (12.7%).

The production of Fishing Sector reduced by 5.20% before the lower extraction of species of continental origin by -37.04%, mainly of resources for the consumption in fresh state (-34.2%), that was partially counterbalanced due to the growth of the maritime fishing (0.74%), mainly due to the capture of anchovy destined to the indirect human consumption (for fishmeal and fish oil), that amounted 67,094 tons and that against the 53,284 tons extracted in February of 2025, which meant an increase of 25.9%. The fishing of anchovy corresponded to the south area of the coastline.

Nevertheless, the landing for direct human consumption fell back 2.25% in three of its four destinations: canning (-59.1%), cured (-28.4%) and frozen (-7.6%); nevertheless, there was a greater extraction for consumption in fresh state (14.4%).

During February of 2026, the Mining and Hydrocarbons sector contracted by 1.11%, due to the drop of the hydrocarbons subsector (-9.73%); nevertheless, the production of the metal-mining subsector increased (0.13%).

In the behavior of the hydrocarbon’s subsector influenced the lower exploitation of crude oil (-24.3%), the reduction in the production of liquids of natural gas (-6.2%) and of natural gas (-0.5%). In the metal-mining subsector, registered greater production the following metals: copper (2.6%), iron (1.5%), tin (0.5%) and gold (0.1%). Meanwhile, that it was registered a lower extraction of zinc (- 1.1%), silver (-2.7%), lead (-7.7%) and molybdenum (-9.6%).

The Manufacturing sector registered a growth of 2.74%, during the second month of the current year, compared to February of 2025, according to figures of the Ministry of Production, mainly determined due to the positive result of the non-primary manufacturing subsector (3.56%) and in lower measure, due to the growth of the primary manufacturing subsector (0.28%).

The positive result of the non-primary manufacturing subsector was due to the greater activity of the branches of the industry of consumption goods (3.59%), intermediate goods (1.44%) and capital goods (9.49%).

On the other hand, the result of the primary manufacturing subsector was based in the greater manufacturing of primary products of precious metals and other non-ferrous metals (3.4%), preparation of sugar (6.1%) and preparation and conservation of meat (1.9%). Nevertheless, it was attenuated due to the contraction in the branches of preparation and conservation of fish, crustaceous and molluscs (-6.0%) and manufacturing of products of oil refining (-4.6%).

During February of 2026, the Electricity, Gas and Water sector increased by 2.99%, compared to the same month of the last year, explained by the greater activity of electricity (3.07%), gas (6.98%) and potable water (1.79%).

The favorable variation of the electricity subsector was based in the generation of hydroelectric origin energy (4.65%) and the non-conventional renewable and wind-solar origin energy (39.11%). Meanwhile, it decreased the thermoelectric origin energy (-6.35%). The increase of the distribution of the gas subsector was reflected in the greater demand of electric power stations by 9.7%, the companies by 0.6% and the distributors of vehicular natural gas increased by 0.7%.

On the other hand, in the growth of the production of potable water influenced in greater measurement to the companies: Agua Tumbes (15.5%), Epsel (6.3%) and Sedapal (1.1%); nevertheless; it decreased the production of potable water in the companies, EPS Sedam Huancayo S.A. (-4.0%) and EPS Sedaloreto (-7.8%), among others.

During the second month of the current year, the Construction sector increased 8.90% compared to the same month of the year 2025, reflected in the dynamism of the domestic cement consumption (11.55%) and the physical progress of public works (1.47%).

The growth of the domestic cement consumption was associated to the greater execution of private Works such as infrastructure projects for mining, agroindustry, transportation, manufacturing, electricity sector, among others; as well as households of self-construction. The physical progress of public works grew in the Regional (24.6%) and Local (14.6%) government areas; nevertheless, it decreased in the National Government (-23.6%).

According to type of work, it outstood the Works of road infrastructure and basic services. Meanwhile, it decreased the investment in works of risk prevention and in construction of non-residential buildings.

During the month under analysis, the Commerce sector registered a growth of 6.06%, mainly explained by the wholesale commerce (4.41%), due to the commercialization of metals and minerals (gold, copper and steel); liquid and gas fuels and lubricants; machinery and equipment (trucks, excavators and front loaders for construction and mining sector, and electric tools, equipment of air conditioning and refrigeration); among the main ones.

The retail commerce increased by 5.82%, determined by the sale of pharmaceutical and medicinal products, cosmetics and toiletries (anti-flu medicines and dermo-cosmetics); supermarkets, minimarkets and convenience stores (large mass consumer product); gas stations and self-services. On the other hand, the automotive commerce grew by 19.67% (sale of light-duty, heavy-duty and minor vehicles) in response to the stability of the exchange rate, access to credit and to the eighth AFP withdrawal. At the same time, it grew the parts, pieces and spare parts (pneumatics, parts of motors and filters).

By comparing the month of February of 2026 with the same month of the last year, the production of the Transportation, Storage and Courier sector registered a growth of 4.10%, before the greater activity of the transportation subsectors (4.67%), as well as the storage and courier subsectors (2.77%).

In the transportation subsector registered the greater activity the transportation by land transport and transport via pipelines (3.0%), before the greater road travel 3.4%, both of passengers (4.4%), and load (2.2%). On the other hand, the transportation by pipping decreased by 5.7%, due to the lower production of crude oil, natural gas and liquids of natural gas; as well as the transportation by railroad by -13.1% due to the lower movement of load and passengers.

The transportation by air was greater in 7.6%, before the increase of the movement of load and passengers at national and international level. Likewise, the transportation by waterways positively varied by 9.5%, explained by the greater transportation of load by sea by 21.5% and via river by 0.4%, in response to the greater movement of passengers and load.

The storage and Courier subsector grew by 2.77% explained by the greater demand of storage services and support activities to the transportation (2.8%), as well as the postal and courier services 1.7%).

During the second month of 2026, the Accommodation and Restaurants sector grew by 7.22%, compared to the same month of the year 2025, due to the positive evolution of the restaurants (7.29%) and accommodation (3.88%) subsectors. The performance of the restaurant’s subsector was associated to the dynamism in restaurants business (6.17%), beverage service (12.96%), services of foods for transportation companies and concessionaires (9.08%) and service of supply of foods by demand (2.42%).

In the group of restaurants, outstood the businesses of pollerías (chiken grill restaurants), international food, meats and grills, chifas (Chinesse restaurants), restaurants, among others, due to new proposals, such as the tasting menu, combos for two, dancing buffet dinner, tea time and refurbishment of environments. Influenced the different celebrations by San Valentine’s Day, Pisco Sour Day, Cajamarca Carnivals and the Candelaria Feast, among the main events that registered better campaigns than the last year.

The results of this month, were achieved based in the comparison (February of 2025) in which some activities were affected by the temporary closure of facilities in shopping centers before the rigorous municipal inspections at national level, as a consequence of the accident occurred in the facilities of a shopping center in the city of Trujillo.

In February of 2026, the Telecommunications and Other Services of Information sector registered a positively variation of 0.57%, due to the increase of the telecommunications subsector (0.74%); nevertheless, other services of information subsector reduced (-1.00%).

Telecommunications subsector registered the greater activity of the Internet services and paid TV (8.3%), followed by the services of data transmission (0.2%). Meanwhile, there were affected the services of telephony (-4.9%).

On the other hand, the drop of the Other Services of Information subsector was explained by the decrease of the production and film show and TV programs (-5.2%), TV and radio programing (-3.3%) and edition (-2.4%).

During the second month of the current year, the production and the Financial and Insurance sector registered a decreased of 0.25%, mainly explained by the reduction of credits (-1.62%) and deposits (-4.19%) in foreign currency.

According to entities of the system, Financial Companies negatively influenced in the result of the sector, due to the contraction of credits (-18.27%) and deposits (-12.22%). According to type of credit, a drop in credits of consumption was registered (-31.5%) and mortgage credits for housing (-9.3%). Regarding the deposits, the decrease was mainly associated to the lower time deposits (- 25.3%).

In the area of Multiple Banking, it was observed a reduction of credits destined to micro-enterprises (-19.14%), big companies (-5.91%), medium companies (-2.76%) and corporative (-0.58%) companies.

During February of 2026, the Sector Services Provided to Companies grew by 4.05%, compared to the same month of the year 2025, favoured by the advertising and market research (5.0%), travel agencies and tour operators (4.5%), professional, scientific and technical activities (4.3%) and activities of administrative and support services (3.3%).

During the month under analysis, the Government Services increased 3.57%, compared to the same month of the last year due to greater activities performed by the institutions of the Public Administration (3.6%), Defense (3.2%) and Other Services of Government (1.5%).