Peru: Mining and hydrocarbons sector grew 5.06% in November 2022

This INEI release was published using machine translation.

In November 2022, the production of the Mining and Hydrocarbons sector increased 5.06% compared to the same month of the previous year, driven by the positive performance of the metallic mining activity (5.90%), which includes the highest volumes produced from copper (14.6%), tin (9.1%), iron (6.2%) and zinc (1.2%); however, the production of molybdenum (-15.0%), silver (-10.2%), lead (-6.8%) and gold (-2.9%) was affected.

Through the technical report Short-term Advance of Economic Activity, prepared by the National Institute of Statistics and Informatics (INEI), it was announced that, in the eleventh month of 2022, the hydrocarbon subsector increased by 0.15%, due to effect of the greater exploitation of natural gas (11.5%), offset by the lower extraction of natural gas liquids (-7.2%) and crude oil (-0.1%).

In 48.52% the production of the Fishing sector was reduced

During the month of study, the Fishing sector decreased 48.52% explained by the lower extraction of species of maritime origin (-50.27%), mainly for indirect human consumption (anchovy for fishmeal and fish oil), registering a extraction of 310,539 tons, compared to the 917,919 tons reported in November 2021 (-66.17%); This catch corresponds to the Second Anchovy Fishing Season in the North-Central Zone of the Peruvian coast, which began on November 28, 2022.

Likewise, fishing for direct human consumption was affected (-15.63%), observing a reduction in all its destinations: cured preparation (-54.0%), frozen (-18.7%), canned (- 18.3%) and for consumption fresh (-9.2%). Additionally, fishing of continental origin decreased by 24.81%, due to the lower extraction of species (-44.95%).

Electricity subsector increased 6.92% in December 2022

According to preliminary figures, as of December 28, 2022, the production of the electricity subsector increased by 6.92% driven by the greater generation of energy from thermoelectric origin (87.8%); however, the generation of hydroelectric power (-32.9%) and renewable energy (-2.1%) decreased.

Among the companies that presented the highest production are: Fénix Power Perú, San Gaban, Engie, Kallpa Generación, Enel Generación Perú, Enel Generación Piura, Tres Hermanas wind farm, SDE Piura and Empresa Generación Huanza.

Internal cement consumption decreased by 2.10%

During November 2022, the internal consumption of cement fell by 2.10% as a result of the lower dynamism of the construction activity, mainly in private projects and self-construction. This result was reflected in the lower local dispatch of cement and imports of this product.

Government investment spending rose by 53%

In the month of analysis, the Investment Expenditure of the General Government (S/ 5,012 million) increased by 53%, compared to the same month of 2021, due to the greater investment in construction, as well as the greater acquisition of machinery, equipment and other assets. The same trend was shown by the consumption expenditure of the General Government, which, in nominal terms, amounted to S/ 9,939 million, registering an advance of 1.54%, when compared to November of the previous year.

Differentiated behavior presented the granting of credits

In November 2022, consumer loans reached S/ 67,881 million, increasing by 24.18%, followed by mortgage loans that amounted to S/ 60,267 million, that is, 7.99% more than in the same month. from the previous year. However, loans granted to corporations, large, medium, small and micro-enterprises amounted to S/ 230,732 million and showed a reduction of 2.92%.

On the other hand, the placement of multiple banking credit cards was 6 million 692 thousand units and presented an increase of 13.28%, when compared to November 2021.

Total imports increased by 6.50%

During the month of analysis, the total amount imported was US$ 4,754 million and registered a growth of 6.50%, when compared to the value reported in November 2021.

Thus, the value of the import of consumer goods was located at US$ 1,027 million and increased by 11.50%, compared to the level registered in the same month of the previous year; according to information available as of December 20, 2022. Followed by the acquisition of raw materials and intermediate products, which amounted to US$ 2,529 million, registering an increase of 9.01%, compared to the value obtained in November 2021.

On the contrary, the import of capital goods and construction materials amounted to US$ 1,196 million and decreased by 2%, when compared to November 2021.