National Production decreased by 0.56% in June of 2023

Nota de prensa

15 de August de 2023 - 10:09 a. m.

The national production decreased 0.56%, in June 2023, explained by the contract development of the Agricultural, Fishing, Manufacturing, Construction, Telecommunications and Financial sector; behavior that was partially counterbalanced by the expansion of Mining and Hydrocarbons, the growth of Electricity, Gas and Water, Trade, Transportation, Storage and Messaging, Services Provided to Companies and Other Services, as reported by the National Institute of Statistics and Informatics (INEI) in the technical report National Production.
During the first half of 2023, the national production decreased by 0.45%, while in the annualized period (July 2022-June 2023) grew by 0.74%.
The production of the Agricultural sector decreased by 1.45%
The Agricultural sector reduced by 1.45% as a result of the fall of the agricultural subsector by -1.87%, due to the lower production volumes of oregano (-55.8%), paddy rice (-22.5%), orange (-20.0%), cacao (-9.0%), olive (-8.5%), sugar cane (-6.8%) and coffee (-1.9%), influenced by the lower sowing levels of the major crops. In addition to the unfavorable weather conditions, due to the occurrence of the Coastal El Niño phenomenon.
In the Coastal region, maximum and minimum temperatures prevailed above their average. In the Andean region, significant decreases in minimum temperatures were reported with occurrences of meteorological frosts. In the Amazon region, there was a decrease in maximum and minimum temperatures of the air and heavy rains.
The livestock subsector fell by 0.42% due to the lower production volumes of eggs (-1.2%), fresh milk (-0.9%), poultry (-0.8%) and sheep (-0.4%).
Fishing sector registered a decrease by 68.93%
The Fishing sector contracted by 68.93% due to the lower extraction of species of marine origin (-74.53%), with a decrease in the line item intended for indirect human consumption (anchovy capture for fishmeal and fish oil), extracting 41,535 tons against the 927,638 tons of June 2022, this shows a decrease of 886,103 tons. It should be mentioned that in June of 2022 there was anchovy fishing season in the north-center and south zone; while, in the month under analysis, the recorded extraction corresponded to the exploratory fishing of five (05) days in the north-center zone, that confirmed the high presence of juveniles which defined the cancellation of fishing of this resource.
Likewise, the fishing for direct human consumption decreased 17.55%, in all four destinations: for curing preparation (-66.1%), frozen (-20.5%), consumption in a fresh state (-11.4%) and for canning preparation (-0.8%).
Fishing of continental origin grew by 7.46% due to the greater extraction of species for consumption in a fresh state.
The production of Mining and Hydrocarbons sector increased by 15.95%
During June of 2023, the Mining and Hydrocarbons sector grew by 15.95% due to the expansion of metal mining activity by 19.03%, given the higher volume produced of copper (22.7%), zinc (31.5%), molybdenum (13.2%) and iron (13.0%), mainly.
The hydrocarbon subsector decreased slightly by 0.71% associated with the lowest level of crude oil (-9.9%) and natural gas liquids (-2.2%) exploitation; however, natural gas production increased (9.7%).
Manufacturing sector decreased by 14.64%
The production in the Manufacturing sector was reduced by 14.64% due to the low performance of the primary manufacturing sub-sector (-29.96%) and the non-primary manufacturing sector (-8.61%). In the primary manufacturing sub-sector, there was less activity in the production and conservation of fish (-78.3%), manufacture of primary products of precious metals (-3.8%) and sugar production (-21.5%).
The non-primary manufacturing sub-sector showed a lower dynamism in the intermediate goods industry (-11.76%), consumer goods industry (-3.76%) and capital goods industry (-4.13%).
The production of Electricity, Gas and Water sector increased by 4.49%
The Electricity, Gas and Water sector grew 4.49% due to the effect of the largest generation of electricity energy by 4.88%, gas distribution by 5.78% and water production by 1.48%. The performance of the electricity sub-sector was supported by the higher generation of thermoelectric power (28.5%) and unconventional renewable energy (22.7%); while hydraulic power generation decreased (-20.0%).
Gas distribution increased, for the second consecutive month, as a result of the largest distribution to electric generators by 14.0% and to vehicle natural gas vending establishments by 13.3%. Nevertheless, gas distribution to companies (-27.3%) decreased. The result of water production was due to the higher generation of the companies Epsel (3.5%), Sedapal (3.1%), Sedapar (2.3%), EPS Grau (1.2%) and Sedalib (0.9%).
Construction sector reduced by 4.12%
The production of the Construction sector decreased by 4.12% associated with lower domestic cement consumption (-10.58%); while the physical progress of public works (18.11%) increased. The behavior of domestic cement consumption was associated with the lower dynamism of private works and self-construction, in an environment of adverse factors such as weather and conservative expectations on the social outlook, as well as a slow recovery in the real state.
However, the physical progress of public works in the areas of National (73.0%) and Regional (12.4%) government grew, partially counterbalanced by the Local government (-7.8%). Among the types of projects that grew the most were the improvement of hospitals and health centers in the country; institutes or educational centers; progress of road works; expansion of sanitation and electrification services; as well as the execution of protection works against natural disasters.
The Commerce sector increased by 3.05%
The Commerce sector increased by 3.05% for the positive performance its three components, wholesale (2.88%) before the greater commercialization of fuels to retail supply centers; machinery and equipment (energy calibrators, medical and industrial equipment) through public tenders and private purchase orders; greater commercialization of metals and metal minerals; computers and peripheral equipment due to the sale of the latest hardware and software versions.
Retail sales (3.69%) showed positive dynamism due to the sale of fuel in gas stations and self-services, which added the greater demand for agro-veterinary products, jewelry, watches and drugs. In addition, vehicle sales and repair (2.53%) increased driven by business strategies.
Transportation, Storage and Courier sector grew by 2.11%
The production of Transportation, Storage and Courier advanced by 2.11% explained by the behavior of the Transportation (4.87%) subsector; nevertheless, the storage and courier subsector (-5.89%) contracted.
The transportation subsector expanded by 4.87% before the performance of air transport (14.2%), due to increased passenger traffic; road transport and pipelines (2.3%), favored by the increased movement of passengers by road (4.3%); on the other hand, the transport of cargo by road (-0.5%) decreased. In addition, rail transport (1.8%) and pipeline transport (3.6%), increased based on the increased mobilization of natural gas. Transport by waterways grew by 4.8% due to the dynamic transport of cargo by sea and waterway.
The storage and courier subsector decreased (-5.89%) in view of the lower demand of storage services and transportation support activities (-5.8%) and postal and courier activities (-6.5%).
The Accommodation and Restaurants sector increased by 3.02%
The Accommodation and Restaurants sector grew by 3.02% due to the performance of the restaurants subsector by 3.02% and the accommodation subsector by 2.70%. The result of the restaurants subsector was favored by the increasing use of digital service, organization of live musical events and commercial alliances with banking and telephony agencies. The Father’s Day, National Ceviche Day, Saint Peter’s and Saint Paul’s Day, Feast of Saint John and Inti Raymi (Feast of the Sun); as well as the holding of gastronomic fairs.
Telecommunications sector and Other Information Services decreased by 3.36%
The Telecommunications and Other Information Services reduced by 3.36% due to the telecommunications subsector (-3.64%) and other information services (-1.25%). The telecommunications subsector decreased the data transmission service (-28.1%) and telephony services (-6.6%) decreased. Internet and subscription TV services, on the other hand, grew by 5.4%.
The subsector other information services showed less requirement for editing activities (-9.3%) and television and radio programming (-5.2%); however, production and display activities of movies and television programs (4.3%) increased; as well as computer programming (1.4%).
Financial and Insurance sector decreased by 9.19%
The Financial and Insurance sector decreased by 9.19% given the lower credits (-8.59%) and deposits (-6.16%) of full-service banking. According to the segment, credits aimed at corporations, large, medium, small and micro companies (-14.5%) and mortgage loans (-1.7%) were reduced, while, consumer credits (7.1%) increased. By economic sectors, lower credits were channeled to trade activities, manufacturing; real state, business and rental activities, agriculture, livestock, hunting and forestry, electricity, gas and water and construction.
The reduction of the deposits of the full-service bank was observed in the line item of Deposits for Compensation for Service Time (-21.0%), Savings Deposits (-18.2%) and Demand Deposits (-15.9%) while, the Time Deposits grew (24.9%).
Services Provided to Companies sector grew by 1.44%
The production of the Services Provided to Companies sector increased by 1.44% due to the result of advertising and market research (8.5%) and professional, scientific and technical activities (2.9%); however, administrative and support services activities for companies (-1.7%) as well as travel agencies and tour operators (-14.2%) decreased.
Advertising and market research grew due to the development of advertising campaigns (seasonal, Father’s Day, advance by National Holidays), digital marketing, promotion, mass advertising BTL (TV, radio and panels) and ATL (direct at point of sales or social networks).
Additionally, professional, scientific and technical activities grew due to the opening of new engineering projects, tenders, technical studies, works supervisions, consulting and business consultancies. On the contrary, administrative and support services activities decreased in the face of the reduced provision of human resources and temporary work placement, reduction of call center campaigns, termination of private security contracts and safeguarding of valuables.
Government Services increased by 2.83%
Government services grew 2.83% in response to the increased activities carried out by the institutions of the National, Regional and Local Government. Likewise, the Public Administration (2.9%), Defense (2.6%) and Other Government Services (2.1%) increased.