• Peru: Construction sector—strong start to the year as cement consumption reaches historic high in January

Peru’s construction sector opened 2026 on a notably positive footing. Domestic cement consumption reached 1.13 million metric tons in January, a 14.1% year‑on‑year increase (chart 1), according to the Peruvian Cement Producers Association (ASOCEM). This marked the highest volume ever recorded for the month of January and extended the sector’s streak to twelve consecutive months of growth. 

Chart 1: Peru: Local Cement Sales

Demand dynamics in 2025 were shaped by:

  • Robust self‑construction activity, supported by improved formal employment conditions and stable construction‑material prices—the Construction Materials Price Index fell 1.1% in 2025.
  • Reinforcing signals from related industries, including a 5.1% rise in local brick manufacturing and a 12% increase in construction‑steel bar sales (INEI).
  • Strong formal real‑estate investment, with new mortgage loans expanding 24% in 2025, marking the second consecutive year of growth.
  • Higher public investment, driven mainly by local governments.

On the downside, weaker demand for cement used in social-housing programs provided some offset. Mivivienda loan placements fell 23% in 2025, marking their third consecutive annual decline.

—Carlos Asmat

Chart 2: Peru: Local Cement Sales, by Region; Chart 3: Peru: Local Cement Sales

Demand dynamics in 2025 were shaped by:

  • Robust self‑construction activity, supported by improved formal employment conditions and stable construction‑material prices—the Construction Materials Price Index fell 1.1% in 2025.
  • Reinforcing signals from related industries, including a 5.1% rise in local brick manufacturing and a 12% increase in construction‑steel bar sales (INEI).
  • Strong formal real‑estate investment, with new mortgage loans expanding 24% in 2025, marking the second consecutive year of growth.
  • Higher public investment, driven mainly by local governments.

On the downside, weaker demand for cement used in social-housing programs provided some offset. Mivivienda loan placements fell 23% in 2025, marking their third consecutive annual decline.

—Carlos Asmat