"The growth of the fishing GDP is a sign of the strength and effort of our fishermen and the sector as a whole," said Peru's Vice Minister of Fisheries and Aquaculture.
Photo: Produce.
Encouraging figures for the beginning of the year in the Peruvian fishing sector. According to Peru's Ministry of Production (Produce), in January 2025, the country's Gross Domestic Product (GDP) of extractive fishing registered a growth of 23.5%, equivalent to an increase of PEN 39.1 million (EUR 10.1 million / USD 10.6 million) over the same month of the previous year.
The recent report of the General Office of Impact Assessment and Economic Studies of the Ministry of Production showed that, in economic terms, it is estimated that in January 2025 the fishing sector, in its extractive and processing phase, contributed PEN 456 million (EUR 118.1 million / USD 123.8 million) to the country's GDP, approximately 1% of the total.
Produce pointed out that the main cause of this growth was the increase in anchovy for indirect human consumption landings, which in January 2025 reached 508.2 thousand tons, an increase of 313.2% compared to January 2024.
This increase was driven by the utilization of quota credits from the second anchovy fishing season 2024 in the north-central zone - which closed on January 23 to protect spawning stock -, as well as by the recovery of fishing in the southern zone at the beginning of the first 2025 season.
For the second anchovy fishing season 2024 the Peruvian Ministry of Production had set a quota of 2.51 million tons of which, at the time of closing, 95% of the catch had been exceeded, which is the highest level of catches in second seasons in the last decade and represented a growth in exports of more than USD 1.4 billion (EUR 1.3 billion).
These figures reflect the importance of fisheries as one of the engines of the Peruvian economy which, thanks to the fishing sector, boosted in 2024. Chimbote, Malabrigo, Coishco, Tambo de Mora and Supe stood out among the main ports by volume of landings.
"The growth of the fishing GDP is a sign of the strength and effort of our fishermen and the sector as a whole," highlighted Peru's Vice Minister of Fisheries and Aquaculture, Jesús Barrientos. "We are seeing an important recovery in anchovy fishing, which positively impacts the industry, employment and the national economy," he added.
However, although anchovy for indirect human consumption was the main driver of this growth, landings for direct human consumption of bonito, jack mackerel, and skipjack tuna also had a significant presence, which, according to Produce, represents an opportunity to diversify the offer and maintain the dynamism of the sector.
"Although some resources have had a lower catch, we notice that the jumbo flying squid is showing a considerable recovery, being found in a wide and dispersed distribution between 80 and 120 miles away from our coasts, with specimens averaging 33 cm. This species, starting in July, together with the anchovy, will be one of the species that will have an important impact on the sector by 2025," said Barrientos.
Produce usually bases its species forecast on research cruises conducted by the Peruvian Institute of the Sea (Imarpe), an agency of the Peruvian Ministry of Production. The results obtained contribute to the analysis of fishery projections for the different species. Earlier this year, Imarpe conducted three of these research cruises on the jumbo flying squid resource -also known as Humboldt squid (Dosidicus gigas)-, the last one starting in mid-January.
Also related to this species and advised by Imarpe, Produce has just announced the implementation of new management measures to ensure the sustainability of the jumbo flying squid resource, while strengthening the activity of more than 14,000 artisanal fishermen in Peru.
As with the anchovy fishery, the jumbo flying squid is also key to the economy of the South American country. In Peru, this activity involves 4,475 artisanal vessels and generates direct employment for more than 14,000 fishermen, benefiting an estimated 70,000 people.
