Progress for Peru?
Following a market contraction in 2020, Peru’s cement producers have seen domestic cement demand recover, making significant gains, even when compared to pre-pandemic levels. Company performance remains solid despite higher input costs, and driving the industry towards further optimisation initiatives. By ASOCEM, Peru.
Peru’s construction sector expects to see a recovery in 2023, followed by expansion in 2024
as the country leaves its economic, political and social challenges behind (© Christian Vinces)
The Peruvian economy showed progress in 2022 following the COVID-induced economic setbacks of 2020. However, there were expectations that the Peruvian economy would do better, since growth in 2022 was lower than expected. The growth rate was 2.7 per cent YoY in 2022, despite the fact that at the beginning of 2021 the BCRP had a growth projection of 3.3 per cent for 2022.
