Carlos Gallardo, head of IPE, a Lima think tank, said that according to comparative estimates of port shipments and production declared by companies, Peru's illegal gold production in the first half of 2026 may be 8.7 tons higher than legal production. This is the first time that illegal production has overtaken legal production in the country. The data shows that from January to June of this year, Peru's legal gold production fell 5.6% year on year, while illegal production soared 19.4% during the same period. Gallardo pointed out that as the largest gold producer in South America, Peru's illegal gold exports may exceed 16 billion US dollars this year, accounting for about 3% to 4% of the country's GDP.

Carlos Gallardo, head of IPE, a Lima think tank, said that according to comparative estimates of port shipments and production declared by companies, Peru's illegal gold production in the first half of 2026 may be 8.7 tons higher than legal production. This is the first time that illegal production has overtaken legal production in the country. The data shows that from January to June of this year, Peru's legal gold production fell 5.6% year on year, while illegal production soared 19.4% during the same period. Gallardo pointed out that as the largest gold producer in South America, Peru's illegal gold exports may exceed 16 billion US dollars this year, accounting for about 3% to 4% of the country's GDP.