National Production Grew 2.28% In May This Year

In May 2022, the national production increased by 2.28% as a result of the positive evolution of most of the economic sectors, with the exception of Fishing, Mining and Hydrocarbons and Financial; This was announced by the National Institute of Statistics and Informatics (INEI) in the technical report National Production. Likewise, it reported that in the accumulated period January-May 2022, economic activity increased 3.48%.

During the month of analysis, the Agricultural sector grew by 7.41% driven by the higher production of the agricultural subsector (9.76%) due to the higher levels of harvested area, mainly raw cotton (203.1%), paddy rice (54.7%), olives (36.1%), tangerines (18.8%), potatoes (12.4%), starchy corn (10.0%) and avocado (7.7%); favored by the reported climatic conditions: on the Peruvian coast cold conditions off the coast and intensification of the winds that modulated the drop in temperatures along the coast. In the jungle region there was a high degree of humidity, which favored the occurrence of rains more frequently and in the sierra region with the registration of some episodes of rain.

Likewise, the livestock subsector increased by 1.73% due to higher production volumes of pork (5.0%), poultry (2.3%), beef (0.9%) and eggs (0.7%). ).

The INEI reported that the fishing sectorit contracted 16.63% due to the effect of the lower capture of species of maritime origin (-17.27%), mainly anchoveta for indirect human consumption (fishmeal and fish oil), registering an extraction of 1,069,431 tons, compared to 1,324,191 tons in May 2021, it showed a decrease of 19.24%. It should be noted that in May of this year the 1st. anchoveta fishing season in the north-central zone of the Peruvian sea, an area of greatest availability of the resource.

Likewise, the landing of resources for direct human consumption was reduced by 9.56% in its four destinations: for canning production (-29.82%), for curing preparation (-12.03%), for consumption in fresh state (-10.41%) and for frozen (-6.77%). Continental fishing decreased 0.81% due to the lower extraction of species for the preparation of curing by 45.45%.

The Mining and Hydrocarbons sector decreased by 6.62% explained by the negative performance of the metallic mining activity in -10.69% due to lower volumes of production of zinc (-17.9%), lead (-15.9%), copper (-12.6%), silver (-11.1%), iron (-3.7%) and gold (-2.0 %); attenuated by the increases in the production of tin (6.0%) and molybdenum (3.5%). On the contrary, the hydrocarbons subsector grew by 20.33% due to the greater exploitation of natural gas (79.9%), crude oil (10.4%) and natural gas liquids (3.4%).

In May of this year, the Manufacturing sector increased by 1.23% due to the greater activity of the non-primary subsector (9.07%); while the production of the primary subsector decreased (-14.57%). The favorable performance of the non-primary subsector was determined by the higher production of intermediate goods (18.81%) and consumer goods (0.27%); however, the production of capital goods decreased (-2.66%).

In addition, the contraction of the primary subsector was explained by the lower activity of the branches for the manufacture of petroleum refining products (-29.8%), fish processing and preservation (-24.7%) and manufacture of primary products precious metals (-2.3%); on the contrary, the sugar processing branches increased (27.1%), as well as the processing and preservation of meat (2.7%).

During May of this year, the Electricity, Gas and Water sector increased by 1.98% due to the higher production of the electricity subsector (1.89%), gas distribution subsector (3.80%) and the water subsector ( 2.29%).

The growth in the electricity subsector was determined by the higher generation of thermoelectric origin (2.5%), hydroelectric (1.0%) and renewable energies (8.0%). The result of the water subsector was influenced by the greater generation of the companies Sedapal (5.7%), Sedalib (2.3%) and Sedapar (1.0%), among the main ones; Also, the production of the gas subsector grew due to the greater demand of the Natural Gas for Vehicles NGV distribution establishments (29.5%), of companies (3.1%) and of the Electric Generators (0.4%).

The INEI reported that the Construction sector grew 0.24%, reflected in the positive development of domestic cement consumption (1.68%); which was attenuated by the decrease in public investment in construction (-5.26%). The result of the first component was influenced by the development of private works such as the execution of industrial projects related to the electrical, hydrocarbon, mining and manufacturing sectors, construction of warehouses and logistics centers, works related to pottery in Educational Institutions and private parking lots, movement of land for the construction of shopping centers and multi-family homes, renovation of galleries and business offices.

On the contrary, public investment in construction decreased mainly due to fewer works carried out within the scope of the National Government, mainly risk prevention, highway and national road improvements; schools and health centers.

The Commerce sector grew by 2.83% due to the favorable development of the vehicle sales and repair division (10.35%), wholesale (2.42%) and retail sales (1.76%); the result of the month showed a positive rate for the fifteenth consecutive month.

The production of the Transportation, Storage and Messaging sector increased by 12.60% due to the favorable result of the transportation subsector (16.34%) and storage and messaging (3.08%). The result of the transport subsector was based on the greater activity of transport by land and pipelines (6.2%), mainly due to the greater traffic of passengers by road (11.1%) and the increase in transport by pipeline (38 ,5%); Similarly, air transport grew (79.4%); meanwhile, transport by waterway decreased (-10.6%).

Likewise, the storage and courier subsector advanced by 3.08% due to the greater activity of postal and courier services (9.9%), as well as storage and transportation support activities (2.4%).

In May 2022, the Accommodation and Restaurants sector increased by 42.38% due to the dynamism of the restaurants (41.88%) and accommodation (154.37%) subsectors. The result of the restaurants subsector was based on the greater flow of diners, due to the extension of service hours, without capacity limits inside the establishments and outdoors, driven by the progress in the vaccination process; Also, the growth of the coverage of the delivery service, restructuring of spaces and commercial alliances with financial companies and supermarkets contributed.

It should be noted that, in May of last year, the activity of restaurants was developed mainly with the delivery service and in the modality of attention in the hall with capacity restriction between 30% and 60%, depending on the level of alert of each department. .

The Telecommunications and Other Information Services sector increased by 2.21% explained by the favorable result of the Telecommunications subsector (2.38%) added to the growth of the Other Information Services subsector (0.15%). The telecommunications subsector was boosted by the Internet service and subscription television (4.4%) and the telephone service (1.9%). The growth of the other information services subsector was driven by the production and exhibition of films and TV programs (8.1%), publishing services (4.1%) and computer programming (3.6%); on the other hand, TV and radio programming decreased (-9.6%).

The Financial and Insurance sector contracted by 6.11% as a result of lower credits (-2.89%) and deposits (-8.53%) from commercial banks. By segment, credit granted to corporations and large, medium, small and micro-enterprises was affected (-7.1%) and mortgage loans showed less dynamism (0.1%); According to economic sectors, lower credits were recorded for real estate, business and rental activities; trade; transportation, storage and communications; construction and mining. On the other hand, deposits for compensation of time of service (-26.8%), sight deposits (-14.4%) and savings deposits (-6.3%) decreased.

The Services Provided to Companies sector increased by 2.18% due to the dynamism of travel agencies and tour operators (354.7%) and advertising and market research (7.4%). However, administrative services and business support activities (-1.4%) and professional, scientific and technical activities (-1.8%) decreased. The result of the month was influenced by the gradual reactivation of national and receptive (foreign) tourism due to the travel season of the vacation and corporate segment for national and foreign destinations, festivities and celebrations for Labor Day, advertising campaigns for the Day of the Madre, online advertising, brand and event activations, and outdoor advertising; In contrast, the execution of projects, the progress of works, business advisory services and consultancies decreased.

In May of this year, government services grew by 3.09% in the scope of the National, Regional and Local Government. The Public Administration sector increased by 3.18% due to greater activity in the sectors: Interior in police patrols by sector, police operations; Health, in hospitalization care, outpatient consultations, emergencies and specialized urgencies; Judicial Power, in the processes of the superior courts of justice; Economy and Finance in private investment promotion processes, infrastructure projects and public services; Education in the development of teaching staff and promoters of regular basic education, among the main ones. Also, Defense services (2.06%) and services provided by EsSalud (3.08%) were higher.