Peru's mining and hydrocarbons sector up 15.94% in Feb 2024

08:46 | Lima, Apr. 2.

The Mining and Hydrocarbons sector's production increased by 15.94% in February this year, because of the expansion of metallic mining activity (17.10%) and hydrocarbons production (8.85%), the National Institute of Statistics and Informatics (INEI) has reported.

According to the technical report on the Economic Advancement of INEI's Economic Activity, this favorable performance was mainly based on the increased volume of production of copper (13.6%), molybdenum (59%), and gold (29%).

The result of the hydrocarbons subsector responded to the greater exploitation volume of the three component products, among which crude oil (28.7%) and natural gas liquids (5.1%) stood out.


The INEI reported that the Fishing sector contracted 31.26%, explained by the lower extraction of species of maritime origin (-35.17%), basically primarily of species destined for indirect human consumption (anchovy for fishmeal and fish oil), thus extracting 318 tons, compared to 43,864 tons in February 2023, which meant a reduction of 99.27%.

Likewise, the landing of species for direct human consumption (-30.06%) was affected, such as fishing aimed at the preparation of canned (-54.9%), frozen (-47.1%), and cured (-8.4%) foods. However, extraction for fresh consumption increased (9.2%).

It should be noted that fishing of continental origin fell 6.71% due to lower extraction of species for fresh state consumption.

Cement Domestic Consumption

In February 2024, cement domestic consumption decreased 0.72%, determined by the reduction of private works and self-construction, compared to February 2023.

Central Government's Investment Spending

According to the country's statistics institute, the Central Government's Investment Spending (S/3.221 billion; about US$867.2 million), up 39.62% compared to February 2023.

This result was explained by increased investment in construction, as well as machineries and equipment. Investment in public construction was observed at the national, regional, and local government levels, while investment in machineries and equipment was reported at the regional and local government levels.


Published: 4/2/2024