Peru's economy may have grown by around 3% during the second quarter of this year (April-June), taking into account the impact El Niño phenomenon is having on the country's productive activity, according to Scotiabank's Economic Studies Department.
"For June, we estimate that the impact of El Niño phenomenon on Gross Domestic Product (GDP) may have been close to 1 percentage point, considering both the lower anchovy catch and its effects on agricultural production due to lower yields," the institution indicated.
"As a result, Peru's economy may have ended the second quarter of 2026 with growth of around 3%, below the 3.5% recorded in the first quarter of this year," it added.
Scotiabank noted that, seasonally, the second quarter of the year accounts for the largest share of primary sectors in Gross Domestic Product (GDP).
"If the effects of El Niño phenomenon on the economy continue in the coming months, their impact on overall GDP would be smaller," it stated.
"This result was lower than our 2.3% estimate and the 3.1% average forecast by Bloomberg analysts. The slowdown from the 3.6% growth recorded during the first four months of the year was expected, considering the effects of El Niño phenomenon on the Fishing, Primary Manufacturing, and Agricultural-Livestock sectors, which together shaved around 2 percentage points off May's GDP," Scotiabank explained.
"Meanwhile, sectors linked to domestic demand continued to perform positively, growing 5%, with Construction, Commerce, and Non-Primary Manufacturing standing out," it added.
Publicado: 21/7/2026