The output from Peru’s construction and manufacturing industries declined by 13.8pc and 13.3pc, respectively, on an annual basis, due to the effects of the COVID-19 pandemic according to the National Institute of Statistics and Informatics (Inei).
Peruvian construction activity decreased on dropping demand for cement, which fell by 12.3pc, while public works declined by 17.3pc in 2020 against the previous year, the Inei noted in a report titled “National Production”, without disclosing volumes.
Manufacturing activity decreased on an annual basis in 2020 due to declining production of metal products for structural consumption which dropped by 24pc in 2020 from 2019. Iron ore output and steel activity also fell by 23pc because of lower demand for steel bars, pipes, and structural profiles for domestic consumption and export to Bolivia, Colombia, and Ecuador.
Automotive manufacturing and shipbuilding activities fell by 72.4pc and 70.5pc, respectively, on an annual basis in 2020, Inei indicated.
Peru’s crude steel production declined by 45.4pc to 671,000mt in 2020, from 1.23mn mt the prior year, according to the latest figures released by the World Steel Association.