Peru’s economy grew 4.07% in the first month of 2025, data from the nation’s INEI statistics agency showed on Saturday, in line with central bank and analysts’ forecasts, as nearly all sectors logged growth with the exception of the financial sector.
The January data landed a touch above the 4% estimate of analysts polled by Reuters, but below the 4.85% recorded in last month of last year.
The Andean nation’s key mining and energy sector advanced 1.4%, while farming and the smaller fishing sector advanced 3.2% and 23.5% respectively.
Manufacturing industry expanded by 5.5% and transportation up 7.9%, while public administration and defense and construction both logged growth of over 4%.
The financial sector contracted 0.35% as commercial banks issued fewer loans.
In a call on Friday, the top economist at Peru’s central bank had said that economic activity was developing better than expected, as the economy bounced back from a recession it entered in 2023.
The bank predicted a limited impact from US tariffs, saying Peru’s agricultural produce complemented North American supplies when they are not able to produce locally for seasonal reasons, and copper exports can be sold to many other markets.
Late last month, Peru’s economy minister predicted the economy would expand 4% this year – up from 3.3% growth in 2024 and a 0.4% contraction a year earlier – ranking it among the fastest-growing economies in Latin America.
