Image: PRODUCE / FIS

Peruvian Fishing Sector Reports 55.2% Growth in June

PERU
Monday, July 22, 2024, 01:00 (GMT + 9)

The increase was encouraged by greater landings of anchovy destined for the production of fishmeal and fish oil.

The increase in landings of horse mackerel, anchovy, bonito, fan shell and hake destined for direct human consumption would also have had an impact on this result.

Source: PRODUCE

The Ministry of Production (PRODUCE) reported that in June 2024 the fishing sector would grow by 55.2%, compared to the same month of the previous year, due to the greater landing of hydrobiological resources.

In this way, fishing landings would reach 363 thousand tons and this would mean a growth of 133% compared to what was registered in June 2023 (155 thousand MT).

The head of PRODUCE, Sergio González Guerrero, indicated that these results are due to the increase in anchovy fishing destined for the processing of fishmeal and fish oil, which would increase by 482% in June compared to the same month of the previous year, boosting In this way, fishery exports, and in turn, the increase in foreign exchange for the country.

The minister explained that the increase in unloading of species aimed at direct consumption would also have influenced this result, mainly those aimed at the canning and freezing industry, such as horse mackerel, anchovy, bonito, fan shell and hake.

Impact on GDP

Source: Stockfile FIS

In this way, in June 2024, the total contribution of the fishing sector to the national GDP would be around 0.28% (S/ 135.6 million (USD 36.25 M) at constant prices). Likewise, with this result in the first half of 2024, the fishing sector would have registered a growth of 44.8% compared to the similar period of the previous year.

The prospects for the fishing sector continue to be encouraging for this year 2024, a growth of 18.5% is expected, this is more than S/ 4700 million (USD 1256.5 M) (extractive and transformative) as a contribution to the national economy, which results in a contribution of almost 1% to the national GDP.

Source: PRODUCE (Translated from the original in Spanish)

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