Peru’s economy expanded for the eighth consecutive month, with a 3.93% increase in GDP in November 2024 compared to the previous year, surpassing analysts’ expectations.
This growth was driven by significant increases in the farming and fishing sectors, which saw 12.4% and 17.6% growth respectively. However, the mining and hydrocarbon sector experienced a 2.2% decline, and the construction sector shrank by 2.4%, attributed to decreased production of metals like copper, zinc, gold, lead, and molybdenum.
The central bank forecasts 3.2% growth for 2024 and 3.0% for 2025, following a recession the previous year due to adverse conditions and socio-political unrest.