The National Institute of Statistics and Informatics (INEI) reported that, during February of this year, national production decreased by 0.63% as a result of the negative evolution of the agricultural, manufacturing, construction, telecommunications and financial sectors. This way, in the first two months of 2023, the Peruvian economy fell by 0.87% and in the annualized period March 2022-February 2023 it increased by 1.93%.
In detail, the production of the agricultural item decreased by 1.08% due to the performance of the agricultural subsector (-0.99%), registering lower volumes of paprika (-74.5%), corn corn (-25.0%) , tomato (-23.7%), onion (-22.2%), potato (-20.0%), alfalfa (-9.2%) and plantain (-7.5%).
This was influenced by the unfavorable climatic conditions reported on the coast, with a prevalence of night temperatures below its climatology, which led to delays in the growth of the fruits.
The livestock subsector contracted by 1.20% due to the lower level of production of eggs (-3.5%), wool (-2.8%), poultry (-1.8%) and fresh milk (-0 ,4%).
According to the INEI, the manufacturing category fell by 1.27% as a result of lower activity in the non-primary manufacturing subsector (-8.38%), offset by the increase in the primary sector (24.45%).
“The decrease in the non-primary subsector was explained by the lower level of production in the consumer goods industry (-9.18%) and intermediate goods (-8.63%),” the entity explained in a press release.
For its part, the financial and insurance sector fell by 7.95% due to lower credits (-6.31%) and deposits (-6.51%) from commercial banks.
Progress in mining and setback in hydrocarbons
The production of the mining and hydrocarbons category grew by 0.27% due to the advance of the metal mining activity by 2.51%, driven by the greater volume of production of copper (10.8%) and iron (38.3%) .
However, the production of tin (-99.3%), molybdenum (-22.5%), lead (-10.1%), silver (-8.6%), zinc (-5.9% ) and gold (-4.9%).
The hydrocarbons subsector decreased by 11.53% due to the lower exploitation of crude oil (-32.9%) and natural gas liquids (-6.3%); however, natural gas production increased (2.7%).
Source: Larepublica
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