National production grew 0.86% in December 2022

In December 2022, national production increased by 0.86% compared to the same month in 2021, explained by the progress of most economic sectors with the exception of Agricultural, Fishing, Manufacturing, Telecommunications and Financial sectors. Thus, the National Institute of Statistics and Computers (INEI) made it known in the technical report National Production. It also reported that in the period January-December 2022, the country's economic activity increased by 2.68%.

 

During the month under study, Agricultural production decreased by 0,96% due to the negative result of the agricultural subsector (-2.43%) by recording lower production volumes of paprika (-62.8%), sweet potato (-55,0%), tomato (-38.5%), paddy rice (-15.1%), potato (-12.5%), alfalfa (-10.2%) and banana (-6.8%); results that were influenced by unfavorable weather conditions (low rainfall on the Highlands; and on the coast and jungle recorded temperatures between values lower to lower). 

 

In contrast, the livestock subsector increased by 1.30% due to the increased production of poultry (1.9%), fresh milk (1.2%), porcine (0.9%) and beef (0.4%). During 2022, this sector achieved a growth of 4.31%.

 

Production of Fishing sector decreased by 2.81% before the lowest extraction of species of maritime origin (-4.76%), reflected in the reduced capture of species intended for indirect human consumption (anchovy resource for fishmeal and fish oil), recording an extraction of 1 039.432 tons that compared with the 1 081.185 tons reported in December 2021, showed a contraction of 3.86%, situation recorded in 2ndmonth of the Second Fishing Season in the North-Center Zone of the Peruvian coastline. 

 

Disembarkation was also affected for direct human consumption (-6.84%) of species intended for curing preparation (-53.89%), canning (-12.73%), consumption in a fresh state (-11.64%) and for freezing (-1.55%). However, fishing of continental origin increased 32.75% based on the largest extraction of species for consumption in a fresh, cured and frozen state. In 2022, the production activity of this sector decreased by 13.74%.

The INEI reported that during the month of December 2022, the Mining and Hydrocarbons sector grew by 9.34% due to the dynamism in metal mining activity that grew by 11.05% due to the higher volumes of iron (99.4%), copper (19.2%), lead (3.2%) and tin (2.3%) production; while molybdenum (-12.1%), silver (-6.4%), gold (-4.0%) and zinc (-2.7%) production was reduced. 

 

In contrast, the hydrocarbon subsector decreased by 1.03% due to the lower extraction of natural gas liquids (-4.9%); however, the exploitation of crude oil (4.0%) and natural gas (0.9%) increased. In 2022, the Mining and Hydrocarbons sector grew by 0.35%.

In December 2022, the Manufacturing sector was reduced by 4.65% explained by the lower activity of the non-primary sub-sector (-8.11%) while the production of the primary sub-sector was increased (4.21%). The negative result of the non-primary sub-sector was recorded in its three components: intermediate goods (-9.84%), consumer goods (-7.14%) and capital goods (-14.53%). 

 
While the positive performance of the primary sub-sector was supported by the increased manufacture of precious metal primary products (20.0%), as well as the production and conservation of meat (1.8%); however, the manufacture of petroleum refining products (-18.1%), fish production and conservation (-0.1%) and sugar production (-1.5%) decreased. During 2022, this productive sector increased by 0.96%.

During December 2022, the Electricity, Gas and Water sector grew 5.84% driven by the higher production in the electricity (6.75%) and water (0.87%) subsectors; while gas distribution decreased (-2.17%). 

 

In the dynamism of the electricity subsector, the largest generation of thermoelectric energy (76.6%) contributed in contrast, the generation of hydroelectric origin energy (-29.7%) and non-conventional renewable energy (-4.0%) decreased. Water production increased by 0.87% for the highest reported level of drinking water production of the company SEDAPAL (1.1%); however, reduced production of Chimbote Station (-4.0%), SEDAPAR (-2,5%), EPS Grau (-0.6%) and SEDALIB (-0.1%), among the main ones. The reduction in gas distribution was associated with the lower demand for Electric Generators (-3.4%); situation that was mitigated by the increased demand of the Natural Gas Vehicular -NGV sales establishments (13.5%) and the Companies (8.9%). In the January-December 2022 period, this sector increased its production by 3.91%.

The INEI reported that the Construction sector grew by 2.96% reflected in the greater physical progress of public works (15.17%); on the contrary, internal cement consumption decreased (-6.72%). The increase in the physical progress of works was observed in the areas of Local (22.8%) and Regional (20.2%) government; however, it decreased in the National (-7.2%) government. Among the works that outstood are: construction works of new inland and rail transport routes; recovery of hospitals and medical centers; expansion of sanitation systems; expansion of flood protection works on river banks, among others.  

 

The result of the domestic cement consumption (-6.72%) was due to the lower dynamism in private and self-construction works; it was the case of projects to expand and remodel office spaces, enablement of land for industrial areas and urban centers; progress of works in industrial plants, among others. From January to December of the last year, this sector showed a progress of 2.97%.

 

Commercial sector production increased by 1.80% reflected in the favorable wholesale performance (1.94%) in the areas of machinery sales; computers and peripheral equipment; household goods, among others; retail sales (2.48%) driven by the increased demand of computers and computer software; pharmaceutical products and personal care products and fuel in retail establishments. However, the sale and repair of vehicles (-2.92%) was reduced due to the lower requirement for transport vehicle accessories. In 2022, this sector grew by 3.26%.

The production of the Transport, Storage and Courier sector grew by 2.40% given the favorable result of the transport sub-sector (7.22%); however, the production activity of the storage and courier sub-sector decreased (-8.94%). The dynamism of the transport subsector was supported by the positive development of air transport (22.67%) in the face of the increase in passenger traffic; also, it increased inland and pipeline (3.30%) by higher flow of passengers by road (6.7%); while, it decreased pipeline transport (-0.3%) and transport by rail (-17.4%). Water transport was greater by 14.55% due to the dynamism of goods transport by sea and passengers by inland waterway.

 

Likewise, the storage and courier sub-sector was reduced due to the lower activity of postal and courier services (-18.02%) and storage services and transportation support activities (-8.16%). Between January and December of the last year, this sector increased by 10.19%.

In December of the last year, the production of Accommodation and Restaurants sector grew 5.76% due to the positive performance of the restaurant subsector in (4.50%) and the housing subsector (18.87%). 

 

The progress recorded by the subsector restaurants was supported by the increased attendance of consumers for end-of-year parties, good reception of menus through digital media, presentations of special dishes for Christmas date, marketing through social networks, gastronomic fairs, live music show and discounts through the obtaining of membership on delivery service platforms. In the January-December 2022 period, this sector grew by 23.17%.

During the month under study, the telecommunications and other information services sector decreased by 7.95% due to the negative performance of the telecommunications subsector (-8.84%) and the other information services subsector (-2.87%). In the telecommunications subsector, the data transmission service (-19.3%) and telephony service (-13.1%) were contracted, both fixed and mobile; dimmed by the increase in internet and subscription television service (1.5%). The contraction of the other information services subsector was determined by the fall of editing activities (-13.4%), production and display of movies and programs (-8.1%), computer programming (-1.9%); instead, TV and radio programming grew (6.4%). During 2022, production in this sector decreased by 1.30%.

 

The Financial and Insurance sector showed a contraction of 8.37% as a result of the negative impact of credits (-6.07%) and deposits (-9.27%) of multiple banking. According to the segment, credits aimed at corporations, large, medium, small and micro-enterprises (-11.9%) and home mortgages (-0.8%) decreased, while consumer credits (13.7%) were boosted. According to economic sectors, credits intended for the commercial, manufacturing, real estate, business and rental activities, transportation, storage and communications, mining and construction sectors showed negative variation.

 

The reduction of deposits from the full-service bank was recorded in the fields of Demand Deposits (-20.3%), Savings Deposits (-15.9%) and Service Time Compensation Deposits (-13.6%), while the Time Deposits increased (20.1%). In 2022, this productive sector was reduced by 6.96%.

 

The INEI reported that the Services Provided to Companies sector increased by 1.12% due to the dynamism of travel agencies and tour operators (10.9%), advertising and market research (8.6%) and professional, scientific and technical activities (0.8%). Instead, administrative services activities showed a negative trend. In the January-December 2022 period, this sector increased by 2.11%.

 

During December of the last year, Government Services grew by 2.18% due to increased activities carried out by institutions of the National, Regional and Local Government. During 2022, this sector accumulated a progress of 2.97%.