Growth in the fishing sector led the way for the the Peruvian economy’s 5% growth last year, reports the Instituto Nacional de Estadistica e Informatica.
In 2013, the fisheries sector grew by 12.7% over the prior year — more than any other sector. Finance and insurance was the next runner up at 9.1%, with construction next at 8.6%.
The 12.7% growth in the fisheries sector can be explained by a 14.1% increase in the maritime fisheries sector, offset by a 5% decrease in the continental fisheries sector.
Major anchovy catch for industrial consumption sustained the fisheries sector. The sector’s 2013 growth represents a huge recovery over the prior year. In 2012, the fisheries sector declined 13.4%.
The change last year is explained by a boost of 27.2% in anchovy catches for fishmeal and fish oil and an 11.5% increase in catches for direct human consumption.
Within human consumption segment, cured seafood was the star of the show with an increase of 175.2%. Meanwhile, fresh fish increased 31.2%, canned fish by 12.3%, and frozen fish declined by 2.3%.
Within the manufacturing sector, manufacturing of fishmeal and fish oil decreased by 1.5%. December was a particularly good month for the fisheries sector as a whole, as it grew 68.5%.