National production grew 0.22% in March 2023

In March of the current year, the national production increased by 0.22% compared with the same month of the last year; this was informed by the National Institute of Statistics and Informatics (INEI) in the technical report National Production. Likewise, informed that during the first quarter of 2023, the national economy decreased by 0.43% while during the last twelve months increased (April 2022 – March 2023) in 1.68%.

The production of Agricultural sector reduced by 2.56% due to the result of the agricultural subsector (-3.7%), due to the lower production of paprika (-44.1%), green fava bean (-35.2%), onion (-28.5%), corn (-23.1%), potato (-19.6%), asparagus (-19.0%) and alfalfa (-5,0%) influenced by the lower area sown of the main crops (-6.08%), unfavorable weather conditions registered in the coast (with heavy rain that affected the crops of agro-exports). In the Peruvian highlands the decrease of the night-time temperatures that affected the crops; on the other hand, in the Peruvian forest there were weather conditions that favored the fruit-bearing and ripening of some crops.

On the other hand, the livestock sector decreased by 0.89% explained by the lower volumes produced of eggs (-2.6%), poultry (-1.3%), fresh milk (-0.7%) and ovine cattle (-0.2%).

The INEI informed that the Fishing sector grew by 22.09% due to the greater extraction of marine origin species (28.45%), with increase in the direct human consumption (41.0%); of species intended to the preparation of canning (81.5%), frozen (50.9%) and consumption in the fresh state (26.8%). Meanwhile, the fishing for indirect human consumption (anchovy resource for fishmeal and fish oil) reached 28 tons that reached 28 tons that against the 37 thousand 025 tons in March 2022, showed a reduction of 99.9%. This was caused by the increase of the surface temperature of the sea that affected the availability of the resource; joined to the ended of the 2nd anchovy fishing season this last February, in the north-center of the Peruvian coastline.

The continental origin fishing decreased by 4.33% due to the lower extraction of species for frozen and for the preparation of curing.

The Mining and Hydrocarbons sector grew by 9.28% due to the progress of the metallic-mining activity (8.70%), due to the greater volumes of copper (19.9%), molybdenum (7.1%), iron (14.0%), gold (1.0%) and lead (1,5%) production; nevertheless, the zinc (-23.8%), tin (-48.5%) and silver (-2,0%) production decreased.

Additionally, the performance of the hydrocarbons subsector increased by 12.66% due to the greater level of exploitation of crude oil (50.4%) and natural gas (15.3%); while the production of liquids of natural gas decreased (-3.6%).

During March of this year, the production of Manufacturing sector reduced by 0.27% as a result of the lower activity of the non-primary subsector (-7.05%); nevertheless, the primary subsector activity increased (28.78%). In the result of the non-primary subsector influenced the performance of the industry of intermediate goods (-7.62%), industry of consumer goods (-6.04%) and industry of capital goods (-33.84%). On the other hand, in the greater activity of the primary subsector influenced the dynamism of all their branches: processing and preservation of fish (130.0%), manufacturing of products of oil refining (88.8%), manufacturing of primary products of precious metals (10.3%), sugar processing (5.6%) and preparation and preservation of meat (0.2%).

The INEI informed that in March of this year, Electricity, Gas and Water sector increased by 6.47% due to the greater generation of electric energy (7.65%) and water production (0.02%); however the gas distribution decreased (-3.53%). In the result of the electricity subsector influenced the greater thermoelectric power generation (54.3%); meanwhile, there was a lower hydroelectric power generation (-11.4%) and non-conventional renewable energy (-12.2%). The water subsector increased due to the greater volumes of potable water production of the SEDAPAL Company (1.8%) and SEDAPAR (0.4%); meanwhile SEDALIB (-11.5%), EPS Grau (-4.3%), SEDA Chimbote (-3.8%) and Epsel (-1.7%) decreased. Gas distribution decreased by fourth consecutive month, by registering a lower distribution to the Power Electric stations (-4.5%) and to the Companies (-9.0%); nevertheless, the demand of the establishments for retailing Vehicular Natural Gas increased (16.9%).

Construction sector decreased by 12.42% reflected in the lower dynamism of the domestic cement consumption (-15.33%) and the physical progress of public works (-3.00%). The reduction of the domestic cement consumption was caused by the lower progress in private works and self-construction by accumulating seven months of unfavorable results. The contractive performance of the physical progress of works observed at the level of Local government (-30.5%); nevertheless, at the level of National (56.9%) and Regional (2.0%) government decreased.

Among the works that showed a lower progress were the road and the sanitation projects nevertheless, the investment in prevention works against risks and disasters, improvement works in institutions, health centers, among others.

Commerce sector increased by 2.95% due to the performance of its three big components; wholesale commerce (3.06%) in which it was noted that the sale of computer equipment and software, through tenders with public sector and private companies; sale of metals and metal ores; machinery and equipment due to demand of medical equipment, equipment for mining and industry and sale of fuels and lubricants. Likewise, the sale and repair of vehicles repair (3.03%) influenced by the greater portfolio of brands and models. Additionally, it grew the retail sale (2.64%) in the sale sectors of new products in specialized stores such as articles for electric installations, electric motors, optic and topographical; pharmaceutical products and fuel sale in retail channel (gas stations and self-services stations).

The production of Transportation, Storage and Courier increased by 1.81% based on the Transportation (6.53%) subsector nevertheless, Storage and Courier subsector (-7.73%) decreased. The result of transportation subsector was driven by the air transportation dynamism (19.12%) due to the greater movement of passengers and cargo. Likewise, the pipeline and road transport (2.74%) was boosted due to the greater movement of passengers (3.5%) and the cargo transportation by road (1.4%). In addition, the pipeline transport (7.2%). Likewise, it boosted the transportation by water route (3.40%) due to the greater demand of passenger and cargo transportation by river route. It also, supported the increase of cargo transportation by water route. On the other hand, the storage and Courier subsector decreased by lower services in storage and support activities to the transportation (-7.72%) and in the postal and courier activities (-7.84%).

In March of this year, the Accommodation and Restaurants sector presented a progress of 2.60% supported in the result of the restaurants subsector by 2.75%; while accommodation subsector decreased by 1.59%. In the behavior of the restaurants subsector affected the opening of new establishments, organization of events, presentation of public shows and greater cover of the delivery service. In addition to the mentioned above it was added the implementation of the Harvest International Festival of Ica, the gastronomic fair “IV Feria Perú Imparable” in Tarapoto and the celebration for the International Women’s Day among the main ones. On the other hand, the accommodation subsector faced the partial cancellation of hotels booking caused by natural disasters, among others.

Telecommunications and other information services sector reduced by 9.68% associated to the performance of the telecommunications subsectors (-10.86%) and other information services (-1.96%). In the telecommunications subsector shown the lower data transmission service (-19.7%), telephone services (-14.7%) and Internet and pay TV services (-0.6%). Likewise, there was reported the contraction of other information services subsector before the reduction of edition activities (-12.2%), TV and radio programing (-5.7%) while the computer programming activities (0.2%) grew and the production, film show and television programs (20.7%).

In the third month of this year, the Financial and Insurance sector contracted by 6.09% a result that was associated with the lower credits (-6.55%) and deposits (-4.93%) of full-service banking sector. According to the segment credit aimed at corporations, large and medium-sized companies, small and micro companies (-12.0%) and home mortgages (-1.6%) were affected; while consumer credits increased (9.8%). According to economic sectors, the sectors that demanded less credit were trade, manufacturing, real state, business and rental activities, transportation, storage and communications, construction and electricity, gas and water.

The decrease in deposits from full-service banking was explained by the lower Service Time Compensation Deposits (-19.3%); Savings Deposits (-17.3%) and Demand Deposits (-16.6%) in contrast to Time Deposits that grew by 35.4%.

The Services Provided to Companies sector increased 1.33% due to the advertising and research of markets (2.2%), travel agencies and tour operators (1.9%), professional, scientific and technical activities (1.7%) and administrative services and support activities for companies (0.5%). This positive variation was favored by advertising in light of the increase in investments for brand activation and digital marketing (WEB pages, social networks and web browser-advertising campaigns for traditional media (TV, radio, written press). The dynamism of tourism (air flights, cruise tickets and international tourism packages) increased due to the influence of offers and promotions on the 2023 Cyber trips of the season and purchases advanced by Easter.

Likewise, professional, scientific and technical activities grew due to new engineering projects, study and design of new architectural projects and approval of construction valuations. In addition, the activities that showed progress were administrative services activities and support for greater surveillance, physical security and security custody contracts, in comprehensive building cleaning services, debt-portfolio collection management and call center services for commercial campaigns.

In March of this year, government services increased by 2.88% as a result of the largest activities carried out by the institutions of the National, Regional and Local Government. Likewise, the Public Administration (3.0%), Defense (1.7%) and other government services (1.3%) increased.