Metals mining fell 4.23% in August due to lower production of copper and other metals

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Metals like tin, molybdenum, silver, iron, zinc, copper and lead fell in August.
Metals like tin, molybdenum, silver, iron, zinc, copper and lead fell in August.

In August 2022 the mining and hydrocarbon sectors it shrank 5.01% on the negative behavior of each sub-sector. The metals mining sub-sector declined by 4.23%, reflecting lower production volumes of tin (-17.6%), molybdenum (-15.7%), silver (-11.2%), iron (-8.1% ), zinc (-2.9%), copper (-2.4%) and lead (-1.6%); However, gold production grew (0.6%), the reported National Institute of Statistics and Informatics (INEI).

Similarly, the hydrocarbons sub-sector recorded a negative change (-10.37%) due to the impact of lower exploitation of natural gas liquefied gases (-38.1%). while natural gas (27.9%) and crude oil (14.1%) gained.

According to preliminary figures, production is scheduled to start in September of this year Electricity sub-sector it increased by 5.18% due to higher energy needs of thermoelectric origin (7.00%) and renewable energies (36.60%); Hydropower, on the other hand, fell (-0.49%); related to the revival of economic activity.

Among the companies that increased their production, the following stood out: San Gabán, Chinango, Egemsa, Kallpa Generación, Empresa Generadora Huanza, Termochilca, Statkraft, SDF Energía and Engie.

In the month of August this year, internal cement consumption increased by 1.28% compared to the same month of 2021, explained by the execution of private works, which are reflected in the increase in cement shipments, according to the technical report economic progress of economic activity of the INEI.

In the period January-August 2022, internal cement consumption recorded an increase of 1.38% compared to the same period in 2021.

In the eighth month of this year, the fisheries sector Decrease of 14.75% due to reduced extraction of species of marine origin (-17.08%) intended for direct human consumption (-27.33%); both for the cured preparation (-53.3%), frozen (-41.8%) and for consumption fresh (-11.4%).

On the contrary, landings for indirect human consumption of anchovies (fishmeal and fish oil) increased, registering a withdrawal of 35,295 tonnes, compared to the 2,689 tonnes reported in August 2021, supported by the second anchovy fishing season in the southern part of the coast, an area with less availability of this resource.

On the other hand, fisheries of continental origin decreased by 4.40%, which is explained by the lower removal of species for fresh consumption (-29.7%).

The fisheries sector fell by 14.75% in the eighth month of the year.
The fisheries sector fell by 14.75% in the eighth month of the year.

In August 2022 the loans from consumption were at S/65,078 million followed by mortgage loans at S/59,298 million, up 25.66% and 8.26% respectively from the same month in 2021. In contrast, loans granted to enterprises amounted to S/236,202 million, down 1.56%.

The placement of multiple banking credit cards was 6 million 657 thousand units, up 17.70% compared to the same month last year.

During the month of analysis, the total amount imported was US$5,614 million, up 27.30% from the value registered in August 2021; according to information from the Deputy National Customs Inspectorate (SUNAT) on September 28 this year.

Imports of raw materials and intermediate products contributed to this positive result, which amounted to $3,174 million and grew by 42.29% compared to August last year. Imports of consumer goods worth $1,108 million, up 23.86%, and purchases of capital goods and building materials, worth $1,332 million, up 4.17% also showed positive behavior.

According to information from SUNAT, the General Sales Tax (IGV) collection in August this year reached 4,070 million soles, registering an increase of 13.81% compared to the same month of 2021, followed by the selective consumption tax, which showed a growth of 9.07% and collected 485 million soles.


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