Peru’s production falls by 0.45% in the first half of 2023

Peru experienced a 0.45% decrease in national production during the first half of 2023, with a notable 0.56% drop in June.

This decline was primarily due to a contraction in primary and transformation sectors, as the National Institute of Statistics and Informatics (INEI) reported.

The country’s productive activities were impacted by the El Niño coastal phenomenon, which affected primary industries like agriculture and fishing, as well as transformation sectors, including manufacturing and construction.

However, this downturn was offset by a substantial 15.95% growth in the mining sector.

This growth was driven by increased production of copper (22.7%), zinc (31.5%), molybdenum (13.2%), and iron (13%).

Within the mining segment, hydrocarbons witnessed a 0.71% drop, primarily due to reduced crude oil extraction (-9.87%) and natural gas liquids (-2.16%).

Conversely, there was a surge in natural gas production by 9.71%.

Furthermore, the electricity, gas, and water sector observed a 4.49% growth, attributed to rises in electric generation (4.88%), gas distribution (5.78%), and water production (1.48%).

Lastly, the commerce sector expanded by 3.05%, buoyed by a positive performance in wholesale sales, which grew by 2.88%.