National Production Increased 1.68% In November Of 2022

In November of the year 2022, the national production increased 1.68% compared with the same month of the year 2021, explained by the positive performance of the majority of the economic sectors; except for Fishing, Manufacturing, Telecommunications and Financial sectors; this was informed by the National Institute of Statistics and Informatics (INEI) in the technical report National Production. Likewise, it informed that in the period January-November 2022, the economic activity increased in 2.70% and in the annual period December 2021-November 2022 in 2.63%.

During the month under study, the agricultural activity grew in 1.25% due to the positive result of the agricultural subsector (1.32%), by registering largest production volumes of raw cotton (1548.9%), squash (75.6%), sweet pepper (73.0%), paprika (32.5%), oil palm (23.4%), asparagus (5.1%) and grape (4.6%); crops that were influences by the favorable weather conditions (rains in the highlands and in the costa region and in the jungle there were temperatures among the normal to superior values).

Likewise, the livestock sector increased in 1.14% due to the effect of greater production volumes of pig (2.2%), fresh milk (2.1%), poultry (1.0%) and beef cattle (0.8%).

The fishing sector decreased 48.52% as a result of the lower extraction of species of maritime origin (-50.27%), mainly for indirect human consumption (anchovy for fish meal and fish oil), registering an extraction of 310 539 tons that, against the 917 919 tons of November 2021, registered a reduction of 66.17%; this catch corresponded to the Second Season of anchovy fishing in the North-Center Zone of the Peruvian coastline, started on November 28 of the year 2022.

The same unfavorable trend presented the fishing for direct human consumption (-15.63%), noting a decrease of the fishing intended to curing (-54.0%), frozen (-18.7%), canned (-18.3%) preparations and for fresh state consumption (-9.2%). On the other hand, the continental origin fishing decreased 24.81%, due to lower extraction of species for fresh state consumption (-44.95%).

The Mining and Hydrocarbons sector increased in 5.06% driven by the good performance of the metallic mining activity in 5.90%, associated to larger volumes of copper (14.6%), tin (9.1%), iron (6.2%) and zinc (1.2%); nevertheless, the production of molybdenum (-15.0%), silver (-10.2%), lead (-6.8%) and gold (-2.9%) was affected.

Also, the hydrocarbons subsector increased in 0.15% sustained by the greater exploitation of natural gas (11.5%); mitigated by the lower extraction of liquids of natural gas (-7.2%) and raw oil (-0.1%).

In the month under study, the production of Manufacturing sector decreased in 2.83% as a result of the lower activity both of the non-primary subsector (-2.48%), and the primary subsector (-3.88%). The unfavorable result of the non-primary subsector was determined by the low production of intermediate goods (-6.41%) and capital goods (-2.50%); meanwhile, it increased the industry of consumer goods (1.12%).

The negative behavior of the primary subsector is explained by the lower dynamism in the branches of production and preservation of fish (-47.2%), manufacture of products from oil refining (-18.4%) and sugar processing (-7.6%); nevertheless, it grew the production in the manufacturing branches of primary products of precious metals (73.9%), as well as the preparation and preservation of meat (1.4%).

During November of the year 2022, the Electricity, Gas and Water increased in 5.65% supported by the greater production of electricity (6.45%), water (0.91%) and gas distribution (0.52%). In the growth of the electricity subsector influenced the greater generation of thermoelectric origin energy (48.3%); nevertheless, it decreased the generation of hydroelectric origin energy (-25.5%) and non-conventional renewable energy (-9.69%).

The progress of water subsector was supported in the greater level reported of potable water production of the companies: Seda Chimbote (2.8%), Sedapar (2.6%), Epsel (1.4%) and Sedapal (0.1%), among the main ones; the progress reported in the gas subsector was supported by the increase of the distribution to the companies (5.8%) and the establishments or gas stations that sell Natural Gas Vehicle -NGV (19.3%). Nevertheless, it decreased the distribution of Power Generators (-0.4%).

The production of Construction sector increased in 6.83% due to the greater physical progress of works in 39.78%; nevertheless, it reduced the domestic cement consumption in 2.10%. The physical progress of works highlighted at Local (62.1%) and Regional (56.9%) level; nevertheless, it decreased in the National level (-4.5%). Therefore, it outstood the reconstruction works, rehabilitation and road improvements and feeder roads; sanitation works; improvements of irrigation channel, expansion of protection works against floods in riverbanks, among others.

Meanwhile, the decrease of the domestic cement consumption was explained by the lower dynamism in private and self-construction works, that is the case of remodeling projects and office extension, allotment of grounds for urban centers; works in industrial plants, additional infrastructure for electric services, among the main ones.

The Commerce sector increased in 2.99% due to the good performance of the wholesale division (3.18%) due to greater tenders; retail sale (3.03%); due to greater activity through the web platforms, driven by the celebration of the Black Friday and Cyber Day 2022 with special deals and exclusive promotions. As well, due to the sales due to Christmas season. In addition, it grew the sale and repair of vehicles (1.28%).

In November of 2022, Transportation, Storage and Courier Service increased 7.51% due to the positive behavior of the transportation subsector (12.12%); nevertheless, it decreased the storage and courier service (-2.88%). In the result of the transportation subsector, influenced the positive performance of the transportation by air (32.14%) due to the increase in the movement of passengers; transportation by land and pipping (7.40%) before the movement of passengers (12.5%) and cargo (1,6%) by road, as well as the increase of transportation by pipping (4.7%); meanwhile it reduced the transportation by rail (-12.6%). On the other hand, the transportation by water route contracted (-1.03%), due to the lower transportation of goods by sea.

The storage and Courier service subsector decreased (-2.88%) due to the lower demand of storage and support activities services to the transportation (-2.70%) and post activities and courier service (-5.91%).

The production of the Accommodation and Restaurants increased in 8.17% as the result of the progress of restaurants subsector (6.32%) and of the accommodation subsector (31.02%). The result of restaurants subsector was possible thanks to the extension of opening hours, launching of special promotions and special deals as part of the Black Friday and Cyber Days, opening of branch establishments and strategic alliances with the financial sector for discounts through remuneration account, among others. The accommodation subsector was favored by the increase of domestic tourism due to the nonworking holiday in the month, driven by the promotions made in travels, such as school and family trips, among others.

In November 2022, the telecommunications and other information services decreased in 5.71% due to the negative performance of the telecommunications subsector (-7.08%); while it grew the other information services subsector (5.20%).

In the telecommunications subsector decreased the services of data transmission (-20.7%) and telephony (-10.1%), both fixed-line and mobile telephony; nevertheless, it grew the Internet and pay per view TV (0.3%). In the progress of the subsector other information services contributed the greater production and exhibition of programs and films (16.8%), computer programming (10.6%) and TV and radio programming (3.1%); nevertheless, it decreased the edition (-4.8%).

The Financial and Insurance sector contracted 9.62% as a result of lower credits (-4.95%) and deposits (-8.11%) of multiple banking. According to segment it decreased the credits targeted to corporates, big, medium, small and microenterprises (-10.5%); as well as housing mortgage loans (-0.42%) situation that was attenuated by the increase of consumption credits (14.5%). According to economic sectors, it reduced the credits intended top commerce sector; real state, business and rental and leasing activities, manufacturing, transportation, storage and communications, electricity, gas and water and construction.

The reduction of the multiple bank deposits, was observed in the areas of Compensation for Time of Service (-23.3%), Sight Deposits (-17.1%) and Savings Deposits (-14.9%); nevertheless, it grew the Fixed-Term Deposits (20.7%).

The production of Services sector rendered to Companies increased in 2.09% due to the great performance of travel agencies and tour operators (58.7%), advertising and market research (4.0%) and professional, scientific and technical activities (1.0%); nevertheless it reported a decrease the activities of administrative and support to companies services (-1.4%).

This result was influenced by the dynamism of domestic and receptive tourism, due to advertising campaigns, trips for students, anniversary and for commercial purposes motivated by Christmas campaign. Likewise, advertising was benefited from season campaigns, promotion and Brand activation due to the end of the year holidays. Also, professional, scientific and technical activities grew due to projects of business management, accounting and financial advising. On the other hand, it decreased the demand of temporary and casual employment, outsourcing services, reduction of private security posts and call center services.

Government services increased in 2.23% before the greater activities performed by Government institutions in the National, Regional and Local areas. Public Administration sector increased in 2.2% due to the activities of the National Jury of Elections (JNE), due to expenses of electoral processes and elections management (preparation of second round of Regional Elections). The Congress of the Republic of Peru executed expenses in representation and politic control; The Ministry of Economy and Finance canalized resources to the contribution management and reception of rights and provisional duties requests and the Judiciary canalized resources in the execution of judicial rulings and court proceedings of the Supreme Court, among the main ones. The Defense sector increased in 2.4% due to maintenance services of the military force and expenses in military training of technicians, non-commissioned officers and officers.