The fishing sector in Peru is experiencing record growth: encouraging figures from June 2024.

The Ministry of Production (PRODUCE) has revealed very encouraging data on the performance of the fishing sector in the country during the month of June 2024. According to the figures presented, an impressive growth of 55.2% has been recorded compared to the same period of the previous year. This increase is mainly attributed to the rise in fish landings, which have reached 363 thousand tons, representing a growth of 133% compared to June 2023, when 155 thousand MT were recorded. The head of PRODUCE, Sergio González Guerrero, pointed out that this notable growth is largely due to the increase in anchovy fishing destined for the production of fishmeal and fish oil, which would have experienced a 482% increase in June compared to the previous year. This increase has boosted fish exports, generating an increase in foreign exchange for the country and significantly contributing to the national economy. Furthermore, the minister highlighted that there has also been an increase in landings of species intended for direct consumption, especially those destined for the canning and freezing industry, such as mackerel, anchovy, bonito, scallop, and hake. These figures reflect sustained growth in the fishing sector, which has made a significant contribution to the national Gross Domestic Product (GDP), reaching around 0.28% in June 2024, equivalent to S/135.6 million at constant prices. In the analysis of the first semester of 2024, it is noted that the fishing sector has experienced a growth of 44.8% compared to the same period of the previous year. These positive results have generated optimism regarding the future prospects of the fishing sector for the remainder of the year, with a projected growth of 18.5% in 2024, which would represent a contribution of over S/4700 million to the national economy, equivalent to almost 1% of the national GDP. The figures presented by the Ministry of Production reflect the important role played by the fishing sector in the country's economic development, not only for its direct impact on exports and foreign exchange generation but also for its contribution to employment and the national GDP. The continuous growth and positive projection for the fishing sector are encouraging signs for the Peruvian economy, in a context where private investment has experienced much more modest growth, with an increase of only 1% in the first semester of 2024. In conclusion, the fishing sector stands as one of the fundamental pillars of the Peruvian economy, demonstrating solid performance and significant growth potential for the remainder of the year. Authorities hope that these positive figures will be maintained and further boost the country's economic development, generating benefits at both national and regional levels in terms of employment, exports, and sustainable growth.