Peru: National Production Decreases 1.12% In January – INEI

The National Institute of Statistics and Informatics (INEI) said in a report released Wednesday that national production decreased by 1.12 percent in January.

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The Institute said the negative index was due to the stoppage of activities linked to the anti-government protests taking place in the country since last December. 

Said drop marked by the contraction of key economic sectors, including Construction, Telecommunications, Mining and Transportation, came after 22 months of consecutive growth, according to INEI.

The Construction sector reported the worst performance with a reduction of 11.7 percent. The Telecommunications and other information services sector also reported -9.26 percent, while the Financial and insurance sector, -5.95 percent.

In January of this year, domestic production decreased 1.12%, after 22 months of uninterrupted growth.

Mining and hydrocarbon production, which contributes approximately 10 percent of gross domestic product (GDP), fell 3.61 percent in January. Production in the transportation, storage, and courier sector, fell 2.94 percent.

Sectors that experienced positive performance in the first month of the year included fishing (32.96), accommodation and restaurants (7.99), electricity, gas and water (3.30), public administration (2.13), agriculture and livestock (1.89), commerce (1.24) and manufacturing (1.08).

According to INEI’s National Production technical report, «during February 2022 – January 2023, the national economy increased by 2.35 percent.»