National production grew 4.85% in December of 2024 and closed the year with an increase of 3.33%

The national production registered a growth of 4.85%, in December of 2024, explained by the positive performance of almost all sectors, with the exception of Construction, outstanding the performance of Manufacturing; following by Other Services; Commerce; Agriculture; Transportation; Fishing; and Mining and Hydrocarbons, that together explain more than 70% of the global production.

The technical report National Production, prepared by the National Institute of Statistics and Informatics (INEI) also informed that during the year 2024, the productive activity of the country increased 3.33%, the highest rate of the post-pandemic period.

The agricultural production grew 7.54% due to the positive result of the agriculture (10.81%) subsector, before the greater volumes of mango (463.5%), paprika (130.3%), tomato (40.2%), grape (31.5%), potato (19.9%), oil palm (16,9%) and asparagus (12.1%), determined by the greater area sown of the main crops.

On the other hand, the livestock subsector registered a variation of 2.68% influenced by greater volumes of swine (4.4%), poultry (3,4%), fresh milk (2,7%) and beef cattle (1.6%) production.

During December of 2024, the Fishing sector registered a growth of 76.76% explained by a greater extraction of species of maritime origin (81.55%), intended to indirect human consumption (anchovy for fishmeal and fish oil) that totalized 927,855 tons, against the registered in December 2023 (162,862 tons), that meant an increase of 469.7%, corresponding to the second fishing season of anchovy. The greater landings were registered in the ports of Chimbote, Malabrigo, Coishco, Carquín and Callao.

Nevertheless, the landing of fishing for direct human consumption was affected (-35.65%), registering in its four components: for frozen (-58.1%), production of canning (-36.3%), preparation of curing (-35.9%) and for consumption in fresh state (-1.9%). On the other hand, the fishing of continental origin increased 14.99% due to greater extraction of species for frozen in 47.9% and consumption in fresh state 9.4%; nevertheless, the preparation of curing decreased (-47.0%).

The Mining and Hydrocarbons sector grew by 1.97% driven by the metal-mining subsector in 2.03%, before the greater volume of molybdenum (32.2%), copper (3.3%), silver (17.9%) and gold (1.0%); meanwhile, the zinc (-25.3%), tin (-23.5%), iron (-1.1%) and lead (-0.5%) production decreased.

On the other hand, the hydrocarbons subsector increased by 1.47% as a result of the greater volume of exploitation of liquids of natural gas (4.6%); nevertheless, the extraction of natural gas (-1.5%) and crude oil (-0.2%) reduced.

During December of 2024, the Manufacturing sector increased by 11.85%, the highest rate of the second semester of 2024, determined by the favorable result of the primary manufacturing subsectors (37.50%) and non-primary manufacturing subsector (3.41%).

The positive evolution of the primary manufacturing subsector was supported in the greater activity of all of their components; outstanding the branch of processing and preserving of fish, crustaceans and molluscs, that had a variation of three digits (217.48%), due to the greater availability of raw material (anchovy resource) for fishmeal; likewise, the production of the primary product of precious metals and other non-ferrous metals (4.37%), product manufacturing of the oil refining (4.15%), processing and preserving of meat (3.33%), as well as the sugar processing (5.25%). In the favorable performance of the non-primary manufacturing subsector influenced by the greater production of the industry of consumption goods (7.02%) and capital goods (2.59%); nevertheless, the production of intermediate goods reduced (-1.70%).

Electricity, Gas and Water sector grew 1.74% explained by the greater generation of electric energy by 2.16%; attenuated by the decreased of gas (-3.40%) and water (-0.51%) subsector.

The increase of electricity subsector was explained by the greater generation energy of non-conventional renewable origin energy -Eolic-solar- (39.3%) and hydroelectric origin (2.9%); nevertheless, the generation of thermoelectric energy (-7.7%) decreased. The contractive result of the gas distribution was associated to the lower demand of Electricity Generators (-5.5%) and of companies (-3.1%); on the other hand, the requirement of gas stations establishments of Vehicular Natural Gas increased (3.7%).

In the unfavorable result of the water subsector influenced the lower production of the following companies: EPS Grau (-9.1%), Sedapar (-5.1%), Sedapal (-0.5%) and Sedalib (-0.5%), mainly.

The Construction sector reduced by 0.88% reflected in the lower physical progress of public works (-2.10%); nevertheless, the domestic cement consumption grew (0.50%).

The decrease of the physical progress of public works compared to December of 2023, was observed in the local and regional government fields, in construction works of non-residential buildings and works of risks prevention; nevertheless, the projects in road infrastructure and related to basic services increased.

On the other hand, the dynamism in the domestic cement consumption was associated to the continuation of works of the private sector, such as infrastructure for the mining sector, infrastructure in production plants, remodeling of commercial and business premises, and of institutions of private health, among others.

The Commerce sector increased by 3.64%, determined by the positive evolution of three components, the wholesale trade increased by 3.67%, based in the sale of nutritional products; chemical products and veterinary drugs; machinery and equipment; foods and beverages for a greater rotation before the summer season and end of the year holidays; as well as household goods driven by a better Christmas campaign.

The retail sale increased by 3.79%, in the branch of computers and telecommunications; pharmaceutical and medicinal products; influenced by the opening of modules in commercial establishments and demand of products of personal care; and the sale in super-markets, hypermarkets and mini-markets due to the opening of new facilities and promotions by Christmas season. In addition, the automotive segment grew by 2.47% due to the greater demand of vehicles (light and heavy-duty vehicles) and maintenance and repair, due to the commercial dynamism of the sector. In addition, it continuous the increase of the sale, the maintenance and the repair of motorcycles and its parts.

During December of 2024, the production of Transportation, Storage and Courier was higher in 7.27%, due to the favorable result of the transportation subsector (5.40%), as well as storage and courier (12.94%).

The progress of the transportation subsector was registered in the transportation via road and pipelines (3.99%), with a greater displacement of passengers and cargo by road (4.0%); and by rail (21.9%); and transportation by pipelines (0.28%), due to the increase in the production of hydrocarbons. In addition, the transportation by air outstood (9.65%), due to the greater movement of passengers and cargo, both national and international. Therefore, the transportation by waterways (7.69%), before the greater transport of goods by sea and of passengers and cargo by waterways.

The growth of the storage and courier subsector was explained by the greater storage services and support activities to the transportation (13.24%), as well as postal and courier services (9.06%).

The Accommodation and Restaurants sector grew 4.54% due to the dynamism of the restaurants subsector (4.06%) and accommodation subsector (8.63%).

The progress registered by the restaurant’s subsector was determined by the dynamism of the restaurant’s services (4.58%), beverages service (6.07%), food services for transportation and concessionaires’ companies (0.82%) and supply of foods by contract (13.72%). The group of restaurants was driven by the sectors of touristic restaurants, restaurants, cevicherías (seafood restaurants), fast food, pollerías (grilled chicken restaurant), chifas (Chinesse restaurants), among others; due to the performance of events by Christmas and New Year celebration, new service points of franchises of fast foods, extension of dishes à la carte and participation in gastronomic fairs.

Telecommunications and Other Services of Information sector increased by 2.84%, due to the positive behavior of the telecommunication subsectors (2.71%) and other services of information (3.55%).

The result of telecommunication subsector was based in the dynamism of the telephony service (3.0%); services of Internet and pay television (2.4%) and services of data transmission (0.7%). In the subsector other services of information influenced the activities of production and film show and TV programs (15.8%), the activities of computing programming (3.3%) and the activities of television and radio programming (1.4%).

The Financial and Insurance sector grew by 1.82% based in the greater deposits of multiple banking (8.95%), observed in the sector of savings deposits (11.0%), demand deposits (10.6%) and time deposits (6.5%). On the other hand, the credits of multiple banking decreased (-1.75%). According to components there were reduced the consumption credits (-4.4%) and entrepreneurial credits (-2.3%); meanwhile, the growing trend of the mortgage credits continued (3.1%).

By economic sectors, the credits intended to real state, entrepreneurial and rent activities; manufacturing; construction; hotels and restaurants and fishing industry; decreased.

The Sector Services Provided to Companies increased by 3.31%, due to the positive result of travel agencies and tour operators (17.2%), advertising and market research (3.8%), professional, scientific and technical activities (3.6%) and activities of administrative and support services to companies (1.4%).

The Government services increased by 4.33% associated to the greater activities performed by institutions of the Public Administration (4.45%), Defense (2.99%) and Other Services of Government (4.47%).