Key View

• Peru’s non-hydro renewables segment will return to growth, supported by an improving policy environment following years of stagnation amid political instability.
• Low-carbon power technologies dominate the market’s project pipeline, with non-hydro renewables experiencing lower development risks than planned hydropower and gas-fired

Key View

• The draft State Contracting law will pose headwinds for domestic drug production in Peru.
• Growth in pharmaceutical imports will continue to outpace growth in pharmaceutical exports in Peru.
• Political instability and macroeconomic concerns will pose downside risks for drugmakers in Peru.

The draft State Contracting law will pose

Key View: We forecast Peru’s arrivals from the US to grow by 44.7% y-o-y in 2023, with arrivals reaching 751,530, increasing from 519,240 in 2022. Peru’s arrivals from the US will continue to increase over the remainder of our 2022-2026 forecast period, with arrivals projected to fully recover in 2023. Over the medium term, we forecast arrivals

Key View

• At Fitch Solutions, we hold a positive outlook for Peru’s meat and poultry segment. Peruvian consumers portion the largest part of their household spending towards food and non-alcoholic beverages, with meat and poultry the leading category.
• Spending on both beef and poultry will outperform, with the mix of increasing mass grocery

Key View

• Digital health will continue to grow rapidly in Peru to address gaps in the healthcare system.
• Telemedicine will present new commercial opportunities for pharmaceutical companies in the country.
• However, internet access among ruralised populations remains a key barrier.

Telemedicine will continue to advance rapidly in Peru. In

Key View

• We forecast real household spending to grow by 3.6% in 2022, decelerating from the estimated growth of 12.6% in 2021. However, we note that the Covid-19 pandemic and the related restrictions on economic activity resulted in real household spending growth contracting by 11.1% in 2020 and this created a low base for growth in 2021.
• Cov

Key View

• We at Fitch Solutions have revised down our 2022 Peruvian copper production forecast from 11.0% to 8.5%, following disruption to the MMG's Las Bambas mine from community protests and the threat of further local opposition to major copper mines next year.
• Community opposition to mining projects is a growing threat to mining production

Key View

• We at Fitch Solutions highlight downside risks to our gold and silver production forecasts for Peru following a government statement on November 20 indicating that four mines in the Ayacucho region would not be able to extend their current operating licences, including two mines owned by London-listed Hochschild Mining.
• Nevertheless

Key View

• Policy direction under Peruvian President Pedro Castillo will remain highly uncertain in the coming quarters as his previous pledge to shift policy leftwards contrasts with the recent appointment of more moderate cabinet members.
• Longstanding tensions between Castillo and opposition parties in Congress, coupled with the recent spat

Key View

• Peru's construction industry will see a strong growth rebound in 2021 with more moderate growth from 2022 onwards, following a sharp downturn in construction activity in 2020 amid the Covid-19 pandemic.
• However, the election of Pedro Castillo as the new president in Peru has led to a significant increase in policy uncertainty, which