Economy and Finance Minister Raul Perez Reyes explained that this performance is driven by private investment, household consumption recovery, and improved business expectations —factors that are laying a solid foundation to sustain growth for the remainder of the year.
"These results reflect investors’'confidence and the resilience of our economy," he stated.
Last July, primary sectors grew 4.9%, driven by strong performance in fishing (+34.8%), primary manufacturing (7%), and agriculture (8.5%). They were boosted by agro-exports such as blueberries, cacao, and avocados, as well as increased cultivation for the domestic market, including olives, potatoes, and corn.
Additionally, mining production rose by 1.9% due to higher extraction of copper, zinc, and gold. In turn, hydrocarbons grew 2.2%, thanks to increased oil production in blocks 8 and Z-1.
Non-primary sectors grew 2.7%, marking 16 consecutive months of expansion, the MEF reported.
Construction stood out (+5%), driven by private investment and domestic cement consumption, as well as non-primary manufacturing (+2.6%), with higher production of goods linked to investment and external demand, notably shipbuilding and manufactured fibers, transport equipment repair and maintenance, as well as fruit and vegetable preservation.
Growth was also recorded in commerce (+2.7%) and services (+2.4%), with strong performance in transportation (+4.3%), public administration (+4%), other services (+3.5%), and services provided to companies (+2.9%).