Peru: 56% of industrial businessmen plan to expand into new markets in 2025 | News

Source link : https://theamericannews.net/america/peru/peru-56-of-industrial-businessmen-plan-to-expand-into-new-markets-in-2025-news-andina/

The majority of industrial businessmen are positive about next year, as 56 % plan to explore or expand their companies into new markets, thereby growing their companies and generating more jobs, according to the Industrial Opinion Survey of the IV quarter 2024 of the National Society of Industries (SNI in Spanish)

The study, prepared by the Institute of Economic and Social Studies of the SNI, also reveals that 23 % of those businessmen who participated in the survey have not yet decided whether they will expand their company in 2025 and 21 % rule out doing so.

The expansion plans of most industrial businessmen are related to positive expectations about their companies: 59 % expect the situation of their company to improve in 2025.

The survey also indicates that 72 % of industrial businessmen plan to make investments in 2025, which would be mainly aimed at the acquisition of equipment and machinery, the expansion of production capacity, the implementation of new technologies, as well as the development of new product lines.

Furthermore, the SNI survey reveals that 55% of industrial businessmen plan to hire additional labor to cover the increase in production, as well as sales levels, in addition to the greater demand, hiring for campaigns and expansion to new markets.

The Industrial Opinion Survey for the fourth quarter 2024 also reflects that industrial businessmen consider the operation of the Chancay port as the main factor that would positively influence their sector during 2025, being mentioned by 47 % of them.

In contrast, political uncertainty (67 %), citizen insecurity (56 %), as well as unfair competition through dumping, undervaluation, smuggling, among other practices (30 %) were pointed out as factors that would negatively affect the performance of their sector next year.

Regarding this year’s performance, 56 % of businessmen indicated that they had met or exceeded their goals, a result that is associated with factors such as the development of new products/services and the implementation of new technological innovation mechanisms.

The results of the survey show a slight improvement in the use of the installed capacity of companies compared to the previous survey. This is reflected in the fact that 31 % of the industrial businessmen who participated in the survey are using between 76 % and 100 % of their installed capacity, and 33 % are producing between 51 % and 75 % of their maximum production capacity.

Regarding production levels, 42 % of them reported that this was higher than in the fourth quarter of 2023, while 27 % reported having recorded lower production levels, and the remaining 31 % indicated that their production was similar.