National production increased in 5.28% during April of 2024

In April of 2024, national production grew in 5.28% compared to the same month of the last year. This was informed the National Institute of Statistics and Informatics (INEI) in the technical report National Production, which reported a positive performance of the Agricultural; Fishing; Manufacturing; Construction; Electricity; Gas and Water; Transportation; Storage and Courier; Commerce; Telecommunications; Services Rendered to Companies and Other Services. Meanwhile, it decreased the Mining and Hydrocarbons; Accommodation and Restaurants, as well as Financing and Insurance.

Likewise, it informed that during January-April of 2024, the economic activity grew 2.38% and in the annualized period (May 2023-April 2024) in 0.30%.

The national production of the majority of economic sectors was favored by two days less of productive activity in the same month of 2023, given that in that year the Holly Weekend was scheduled in April 06 and 07, while in 2024, was registered in 28 and 29 of March.

According to figures of the Ministry of Agricultural Development and Irrigation, the production of Agricultural sector increased in 23.69% due to the positive result of the agricultural subsector (36.01%) in which outstood the production of barley as grains (1,069.2%), quinoa (816.5%), dried fava beans (165.1%), paprika (126.0%), potato (73.2%), alfalfa (25.7%) and paddy rice (5.2%), that together explain 50% of the result of the month. Influenced the greater area sown and favorable weather conditions for the development of crops. In addition, it reported an extraordinary campaign of forage oats, that contributed with the achievement of a significative performance.

On the other hand, the livestock subsector grew in 0.90% due to the greater volumes of pig (5.5%), beef (1.6%), poultry (1.0%) and alpaca (0.6%) production.

During the month under analysis, the Fishing sector increased 158.40% explained by the greater landing of species of maritime origin (212.28%), mainly of species for indirect human consumption (anchovy for fishmeal and fish oil) extracting 778 thousand tons, during the first month of the 1st fishing season in the north-center zone of the country’s coastline que, against the 6 thousand tons registered in the same month of 2023, evidenced an increase of 772 thousand tons. It is worth to mention that, during April 2023, the progress of the 1st season of fishing of anchovy was authorized in the south area, extraction that was affected by the deepening of the anchovy in the sea, before the increase of the surface temperature of the sea.

On the other hand, the fishing of maritime origin for direct human consumption drop 3.74% due to the lower landing of species destined to be frozen (-11.71%), preparation for curing (-7.46%) and consumption in fresh state (-0.67%). At the same time, it decreased the fishing of continental origin in 24.39% reflected in the lower fishing destined for consumption in fresh state, frozen and preparation of curing.

The Mining and Hydrocarbons sector decreased in 4.34% due to the contraction of the metal-mining activity (-4.5%) after 14 months of uninterrupted growth, determined by the lower production of copper (-8.2%), zinc (-29.7%) and lead (-1.5%). It must be noted that, this activity was affected by two days of stoppage of the mining plant of the company Antamina.

Likewise, it reduced the production of the hydrocarbon’s subsector in 3.6%, impacted the lower volume produced of natural gas (-5.4%), crude oil (-4.4%) and liquids of natural gas (-1.9%).

During April of 2024, the production of Manufacturing sector increased in 11.43% after registering fourteen months of negative continuous results, which was explained by the greater activity of the primary manufacturing (32.64%) and non-primary manufacturing (4.78%) subsector. Differences

The positive performance of the primary manufacturing subsector was determined by the greater activity in the preparation and conservation of fish, crustaceans and mollusks (259.9%); sugar processing (31.5%); the processing and preservation of meat (3.0%). On the other hand, the manufacturing of products from crude oil refining (-1.8%) and primary products of precious metals and other non-ferrous metals (-1.8%).

On the other hand, the growth of the non-primary manufacturing subsector was driven by the consumer goods industry (8.92%), industry of capital goods (25.72%) and industry of intermediate goods (0.46%).

The INEI informed that Electricity, Gas and Water sector grew 2.62% due to the evolution of the electricity (2.63%), gas distribution (3.36%) and water (2.40%) subsectors. The electricity subsector increased due to the greater generation of hydroelectric origin energy (11.8%) and non-conventional renewable energy (48.0%). Nevertheless, thermoelectric origin electricity reduced (-19.7%).

The dynamism of the water subsector was due to the greater volumes of potable water production of the following companies EPS Grau (17.4%), Epsel (15.0%), Seda Chimbote (5.3%), Sedapar (3.6%) and Sedapal (1.6%).

The gas distribution grew before the greater demand of the Companies (26.8%) and the establishments of Vehicular Natural Gas expenditure (7.7%). On the other hand, the demand of power generators decreased (-1.9%).

Construction sector increased in 7.02% reflected in the domestic cement consumption (7.46%) and the physical progress of public works (6.38%). In the result of domestic consumption influenced the greater demand coming from private works, related to hydrocarbons, mining, electric, commercial, business sectors, among others.

The positive behavior of the physical progress of public works was linked to projects of risk prevention, construction of non-residential buildings and project of basic services. On the other hand, the execution of road infrastructure works decreased. According to level of government the investment grew in the Regional Government (50.9%); meanwhile, according to local (-7.6%) and National (-3.6%) level, the investment reduced.

During the month under study, the Commerce sector grew in 3.08% determined by the wholesale evolution (3.14%) based in the commercialization of foods, beverages and tobacco to markets and retail chains; households; fuel targeted to mining and fishing sector; centers of retail stores and distributors of domestic gas; as well as machinery and equipment for projects of public-private investment.

On the other hand, the retail commerce showed a positive trend (3.03%) as a result of the greater commercialization of personal security products, optical and veterinary articles; pharmaceutical products; fuel in gas stations. The same behavior registered the automotive commerce (2.77%) related with the demand of automotive vehicles and motorcycles, maintenance service; as well as the sale of parts, pieces and accessories.

In April 2024, the INEI informed that the Transportation, Storage and Courier sector increased 7.26% due to the positive result of transportation (8.32%), as well as storage and courier (3.18%) subsectors.

The growth of the transportation subsector was based in the positive development of the air transportation (18.16%), due to greater movement of passengers and load; the land and pipping transportation (5.52%), before the greater passenger flow (5.1%) and load (6.8%) by road.

On the other hand, the rail transportation decreased (-4.56%) before the lower traffic of load and transportation by pipping (-4.3%) because the lower hydrocarbons production. On the other hand, the waterways transportation increased 0.59% due to the greater passenger and load flow by inland waterway.

In the positive performance of the storage and courier subsector influenced the greater postal and courier (14.7%) service, as well as the storage and support activities to the transportation (2.9%).

Accommodation and Restaurants sector reduced in 3.47% product of the lower activity of restaurants subsector (-3.54%). On the other hand, the accommodation subsector showed a progress (3.20%).

The negative variation of the restaurant’s subsector was explained by the branch closures and increase of prices of the menus in this establishments. Among the business of restaurants (-6.35%) that registered lower demand were the cevicherías (seafood), pollerías (grilled chicken), chifas (Chinese food), touristic restaurants, meats and grills and fast foods. The same trend showed the beverage services (-3.52%) and catering service (-6.98%). On the other hand, the concessionaires service grew (7.34%).

It must be pointed out that in April 2023, considering the base month of comparison, it was registered a greater activity on the occasion of Holly Week, unlike the year 2024 that reported in March.

The production of Telecommunications and Other Services of Information sector grew by 3.25% due to the positive behavior of the telecommunications (3.45%) and other services of information (1.78%) The positive result of the telecommunication subsector was determined by the increasing progress of the Internet service and subscription TV (4.6%) and phone service (3.7%). On the other hand, the service of data transmission decreased (-17.5%).

In the growth of the other services of Information subsector come into play the increase of the activities of television and radio programming (3.0%), the activities of computer programming (2.9%) and editing (0.9%). On the other hand, the activities of production and film show and TV programs (-5.2%).

The Financial and Insurance sector contracted in 2.76%, situation reflected in the lower locations of the multiple banking (-4.38%); according to segment decreased the credits intended to big, medium, small corporations and micro-enterprises (-7.0%) and consumption credits (-1.7%); meanwhile mortgage loans grew (1.9%).

By economic sectors, it reduced the credits targeted to the commerce; manufacturing industry, agriculture; livestock, hunting and forestry; transportation, storage and communications; real estate business, rental activities; financial intermediation and construction.

On the other hand, the deposits of multiple banking grew in the headings of demand deposits (7.7%) and fixed-term deposits (4.0%). Meanwhile, deposits of Compensation for Time of Service (-10.0%) and savings deposits (-3.9%) decreased.

During April of 2024, the sector of Services Rendered to Companies grew in 3.98% due to the positive result of the travel agencies and tour operators (58.1%); advertising and market research (6.0%); professional, scientific and technical activities (2.1%) and; activities of administration and support services to companies (1.8%).

The INEI informed that during the month under analysis, the Government Services grew 3.85% in response to the greater activities of the Public Administration (3.9%), Defense (3.5%) and Other Government services (3.5%).