National population increased 5.04% in May of 2024

In May of 2024, the national production grew in 5.04% compared to 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. This result was based in the positive performance of almost all sectors, with the exception of Financing and Insurance.

In May outstood the contribution of the manufacturing sector; followed by fishing; other services; transportation, storage and messaging; construction and commerce, that together contributed with the 81% of the global result of the month under analysis; followed in importance mining and hydrocarbons; agriculture; public administration and defense; service rendered to companies; electricity, gas and water; accommodation and restaurants; and telecommunications.

The INEI stated that during the five first months of 2024, the productive activity of the country grew 2.94% and in the last twelve months (June 2023- May 2024) registered a variation of 0.83%.

The Agricultural sector increased in 2.64% explained by the greater volumes obtained from the products of agricultural subsector (3.22%), among them it outstood: barley as grains (142.3%), dried faba beans (119.0%), starchy maize (106.6%), oca (80.5%), alfalfa (18.2%), papa (17.8%) and paddy rice (7.0%), as a result of the greater area sown of the main crops.

Likewise, the livestock subsector grew in 1.20% due to the greater production of swine (5.6%), poultry (1.6%), beef cattle (1.4%) and alpaca (0.7%).

The Fishing sector grew 329.16% before the greater extraction of species of maritime origin (451.16%), for indirect human consumption (anchovy resource for fishmeal and fish oil), extracting 1 454 863 tons under the month of analysis, against the 7,620 tons got in May 2023, registering an increase of 1 447 243 tons; as part of the continuation of the 1st Fishing Season in the North-Center Zone of the coastline of the country.

In lower measure the capture for direct human consumption of species (10.84%) destined to the preparation of canning (170.7%) and consumption in fresh state (17.2%). Nevertheless, it reduced the frozen (-3.7%) and preparation of curing (-2.4%) production.

On the other hand, the fishing for continental origin contracted 50.10% before the lower extraction of species for fresh state consumption, for frozen and preparation of cured products.

The INEI informed that the Mining and Hydrocarbons sector increased in 1.83% as a result of the good performance of the metal-mining activity (2.39%), before the greater production of molybdenum (22.7%), silver (21.9%), iron (20.7%), lead (19.8%), tin (7.2%) and gold (4.5%). This performance was counterbalanced partially by the lower extraction of zinc (-11.3%) and copper (-1.1%).

On the other hand, the hydrocarbons subsector decreased in 1.68% associated to the lower volume of exploitation of crude oil (-9.4%). Nevertheless, the production of liquids of natural gas (1.5%) and of natural gas (0.4%) grew.

During May of 2024, the Manufacturing sector grew in 18.59% according to Ministry of Production (PRODUCE) figures. This result was supported mainly in the greater activity of the primary (76.54%) and non-primary (1.12%) manufacturing subsectors.

In the positive behavior of the primary manufacturing subsector influenced the dynamism of the branch of processing and preserving of fish, crustaceans and molluscs (651.1%) before the greater availability of the anchovy resource; the manufacturing of products of crude oil refining (32.6%); processing of sugar (19.5%) and processing and preserving of meat (2.6%). Nevertheless, the manufacturing of primary products of precious metals and other non-ferrous metals reduced (-5.1%).

The growth of non-primary manufacturing subsector was supported in the greater production of the industry of consumption goods (3.53%) and capital goods (49.81%). On the other hand, the industry of intermediate goods contracted (-2.11%).

Electricity, Gas and Water sector grew 1.72% due to the favorable result of the electricity (1.93%) and water (1.06%) subsectors. Meanwhile the distribution of gas (-3.08%) decreased. The electricity subsector increased due to the greater generation of hydroelectric origin energy (10.3%) and non-conventional renewable energy (60.6%); nevertheless, the thermoelectric origin energy decreased the thermoelectric origin energy (-14.7%).

The positive result of the water subsector was supported in the greater generation of companies such as Epsel (4.9%), EPS Grau (4.0%), Seda Chimbote (0.2%), Sedapar (0.1%) and Sedapal (0.06%), among the main ones. The decrease of the distribution of gas was determined by the lower demand of Power stations (-8.7%); that could not be counterbalanced by the increase of the demand of Companies (17.4%) and of retailing establishments of Natural Vehicular Gas (8.2%).

The Construction sector increased in 5.54% driven by the greater physical progress of public works (33.11%); meanwhile it decreased the domestic cement consumption (-1.69%). The negative result of the domestic consumption was associated to the lower dynamism of private works of civil engineering for mining, electric, hydrocarbons sectors, in industrial and storage plants, remodeling of business buildings and works for multi-familiar buildings.

The physical progress of public Works was observed in the three areas of the government; among them were the works of road infrastructure; construction of non-residential buildings; works of risk prevention and basic services.

During May of 2024, the Commerce sector increased in 2.06% due to the good performance of the wholesale transactions (2.43%), before the renovation of computers, peripheral equipment and computer programs; equipment of electronic and cybersecurity security; natural and agrochemical products; fuel targeted mainly to mining, fishing sector and air transportation; as well as machinery and equipment driven by the dynamism of the economic sectors.

The progress of the retail sale (2.50%) was explained by the commercial strategies in supermarkets and department stores on the occasion of the Mother’s Day. In addition, it was registered a greater demand of fuels in gas stations and self-services. Meanwhile, the automotive trade decreased (-2.45%), as a result of the lower demand of automotive vehicles and motorcycles, its maintenance, as well as the lower sale of its parts, pieces and accessories and lower demand of pneumatics.

The INEI informed that the Transportation, Storage and Courier increased by 7.03% due to the positive behavior of the transportation (8.96%) and storage and courier (0.75%) subsectors.

The transportation subsector grew by the increase of land and pipping transportation division (5.96%), due to the greater land traffic of passengers (4.3%) and cargo (8.1%); and transportation by railway (26.63%), before the increase of flow of passengers. On the other hand, it decreased the pipping transportation (-0.74%) explained by the lower extraction of crude oil.

Likewise, it increased the air transportation in 16.48% in response to the greater traffic of passengers and load. The same trend registered the waterway transport, that grew in 22.17%, as a result of the greater flow of cargo in marine transport and of passengers in river route.

The positive result of the storage and courier subsector was based in the greater postal and courier activity (3.97%), as well as storage and support activities to the transportation (0.37%).

The Accommodation and restaurants grew 1.14% due to the dynamism of the restaurants (1.10%) and accommodation (5.70%) subsectors. The behavior of the restaurant’s subsector was determined by the food services for transportation and concessionaire companies (5.38%), catering service (80.02%) and beverage service (3.06%). Nevertheless, there were affected the business of restaurants (-0.82%) in the areas of Cevicherías (seafood), meats and grills), Chifas, Japanese food, Pollerías (grilled chicken) and fast foods.

During May of 2024, the Telecommunications and Other Services of Information sector grew in 0.08%, due to the positive performance of the other services of information subsector (2.27%); nevertheless, the telecommunications subsector decreased (-0.12%).

In the behavior of the Other Services of Information subsector influenced the increase of activities of computer programming (7.2%), as well as the production, film show and TV programs (3.0%). On the other hand, it decreased the activities of TV and radio (-2.8%) and edition (-0.6%) programming.

The contractive behavior of the telecommunications subsector was observed in the telephony services (-1.2%) and the services of data transmission (-12.8%). On the other hand, it increased the services of Internet and pay TV services (3.4%).

The Financing and Insurance sector decreased by 1.06%, reflected in the contractive behavior of one of its main components, the credits of multiple banking, that registered a reduction of 2.26%, result that was attenuated by the increase of the deposits in 3.16%.

According to division, it decreased the credits targeted to big, medium, small and micro-companies (-4.1%) and consumer loans credits (-1.4%). Nevertheless, mortgage loans increased in 3.4%. By economic divisions, it reduced the credits targeted to commerce; manufacturing industry; agriculture, livestock, hunting and forestry; financial intermediation; transportation, storage and communications; construction and business, entrepreneurial and rental activities.

On the other hand, the positive result of the deposits of multiple banking was observed in the sector of sight deposits (8.4%) and time deposits (3.6%). Meanwhile, Term of Service Compensation and saving deposits decreased in 3.7% and 1.6%, respectively.

The sector Services Provided to Companies grew in 3.13%, due to the positive result of travel agencies and tour operators (42.9%), advertising and market research (3.5%), professional, scientific and technical activities (1.9%) and activities of administrative services and support to companies (1.1%).

The INEI informed that services of government grew in 3.65% due to the greater activity performed by Public Administration (3.6%), Defense (4.1%) and other services of government (3.9%).