Peru’s domestic cement market has been showing signs of recovery since the onset of COVID-19 and the local cement sector played an important role in helping to cushion the effects of the pandemic. The country’s cement association, Asocem, provides an overview of recent industry trends amid challenging times and prospects for continued recovery. By Asocem, Peru.
The economic context in which Peru found itself prior to the COVID-19 pandemic was quite encouraging. In January and February 2020, economic growth rates of three and four per cent YoY, respectively, were achieved, according to data from the Central Reserve Bank of Peru(BCRP).1 However, it was between February and March 2020 that the virus began to spread throughout the country, setting the stage for a higher risk of infection. Based on this, the Peruvian government decreed mandatory social isolation over the 15 March-1 July 2020 period. Thereafter, the reopening of the economy was planned gradually, prioritising activities based on economic criteria (relevant to the economy) and risk mitigation criteria (ie, level of transmission risk for its operation). In February 2021 the Peruvian government implemented mandatory social isolation measures for 10 regions but, unlike previously, construction activities were permitted.
