Mining and Hydrocarbons sector grew 8.87% in August of 2024

In the technical report Conjuncture Progress of Economic Activity, prepared by the National Institute of Statistics and Informatics (INEI), informed that in August of 2024 the Mining and Hydrocarbons sector expanded in 8.87% compared to the same month of the year 2023, driven by the positive result of the mining (8.86%) and hydrocarbons (8.96%) subsectors.

In this result influenced the greater level of copper (11.7%), molybdenum (42.4%) and silver (30.0%) production, mainly. Also, registered a progress the hydrocarbons subsector that registered a greater volume of exploitation of natural gas (12.8%), natural gas (9.5%) and of crude oil (2.5%).

The Fishing sector contracted in 27.78%, explained by the lower extraction of species of maritime origin (-27.09% compared to the same month of the last year), meanwhile that the intended for indirect human consumption (anchovy resource for fishmeal and fish oil) registered the capture of 297 tons that against the 182,636 tons reported in August of 2023, evidenced a reduction of 99.8%.

Meanwhile, the extraction of maritime species for direct human consumption grew 14.92%, due to the greater landing of variety intended to the preparation frozen (36.5%), canning (21.8%) and for consumption in fresh state (0.3%). Nevertheless, the landing of species reduced the landing of species for the preparation of cured (-28.6%).

On the other hand, the fishing of continental origin decreased 33.08% due to the low extraction of species for fresh state consumption, preparation of cured and for frozen.

During August of 2024, the electricity subsector registered an increase of 3.08% due to the evolution of the generation of hydroelectric origin (17.2%) and energies of renewable energy, Eolic and solar (95.6%). Nevertheless, the production of energy of thermoelectric origin reduced (-13.1%).

Among the companies that showed a positive behavior outstood: Empresa de Generación Eléctrica Huallaga S.A., Empresa de Generación Huanza S.A., Termochilca S.A.C., Electroperú S.A., Egasa, Kallpa Generación S.A., Egemsa, Statkraft Perú S.A., San Gabán S.A., Orazul Energy Peru S.A. and Chinango S.A.C.

The INEI informed that the domestic cement consumption registered an increase of 0.14% during August of 2024, before the progressive recovery of projects of private construction and self-construction.

During the month of August of 2024, the public expenditure (S/4,487 million) increased 24.23% due to the greater expense in construction works, as well as the acquisition of machinery and equipment in the three levels of the government. The same trend registered the Consumption Expenditure of the General Government, that in nominal terms, totalized S/ 10,859 million, it means, it registered a progress of 13.22%.

The granting of mortgage loans for housing totalized S/ 65,406 million in August of the year 2024, a greater amount in 5.46%, compared to the same month of 2023.

On the other hand, consumption credits totalized S/ 70,159 million, reducing in 4.78%; as well as the granting credits to corporation, big, medium, small and micro-enterprises placed in S/ 214,278 million, showing a slight decrease of 0.60% compared to August of 2023.

Furthermore, the placement of credit cards of multiple banking totalized 6,225 thousand units, and registered a decrease of 5.01% compared to August of the last year.

The INEI informed that the total amount imported was of US$ 5,077 million, figure amount in 8.61% compared to the value registered in August of 2023, according to the information available as of September 4th of 2024.

This result was favorable result was driven by the purchase of capital goods and construction materials, that totalized US$ 1,421 million, increasing in 12.84%. It also positively influenced the acquisition of raw materials and intermediate products, that was placed in US$ 2,614 million, increasing in 12.75% compared to the value of August of 2023.

On the other hand, the import of consumer goods totalized US$ 1,040 million and contracted 4.71% compared with the value registered in the same month of 2023.