The year-on-year growth of Peru’s economy stood at 2.85 % in February, driven by the mining and hydrocarbons sector, which has maintained a cumulatively rebound of 15.94 % cumulatively.

This sector has recorded 13 consecutive months of progress thanks to “increased production of copper, gold and molybdenum,” which positions it as the main contributor to the GDP of the South American nation.

This was published this Monday by the National Institute of Statistics and Informatics (INEI), which also indicated a reduction in productive activity in the “Manufacturing, Financial and Insurance, Fishing and Agricultural” sectors.

The local body highlighted that the Peruvian economy achieved accumulated growth of 2.10 % in the January-February period, compared to the last 12 months, March 2023-February 2024, when it decreased by -0.12 %.

The fishing and manufacturing sectors, which are important job generators, fell 31.26 % and 4.68 %, respectively, due to the lower volume of fishing for direct consumption in addition to a drop in activity in the fishing industry. precious metals and preserved meat foods.

For its part, according to the report, the Financial and Insurance sector decreased by 5.12 % due to lower loans (-4.99 %) and deposits (-0.82 %) from commercial banks.

In the electricity, gas and water sectors, a growth of 8.09 % was seen, driven by the “greater generation of electrical energy (8.44 %), water production (6.43 %) and gas distribution (3.11 %).”

The Institute also evidenced a growth in the construction sector of 6.41 % driven by the dynamism of the physical progress of public works (39.61 %).

Other sectors that also grew in the month of February are commerce (3.02 %), transportation, storage and messaging (5.18 %); accommodation and restaurants (2.70 %); telecommunications and other information services (2.01 %); business services (2.89 %), and Government services (3.71 %), while the agricultural sector had a decrease of 1.95 %.

M.Pino

Fountain: americaeconomia

(Reference image source: Unasplash+, in collaboration with Getty Images)

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The Organization of Petroleum Exporting Countries, OPEC, indicated that during the month of February of this year, Venezuela increased its production to 877,000 barrels per day.

The figure represents an increase of 4 % compared to the same period in 2023, when oil production reached 704,000 bpd.

According to official data, crude oil pumping has increased 24.5 %. Regarding Venezuelan crude oil exports, a recent report indicates that they increased 7.4 % in the first two months of 2024 compared to the same period of the previous year, up to 27.6 million barrels.

Venezuela, the South American country with the largest proven crude oil reserves – some 300,878 million barrels – produced an average of 783,000 bpd last year, a growth of 9.35 % compared to 716,000 bpd in 2022.

It is appropriate to remember that on February 24, the Minister of Petroleum and “president of PDVSA, Pedro Rafael Tellechea, stated that production had exceeded 900,000 bpd and, according to his forecasts, will reach 1.2 million bpd this year, an increase of 53.2 % when compared to the average for 2023.”

M.Pino

Source: unionradio.net

(Reference image source: Unsplash+, in collaboration with Getty Images)

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La entrada Venezuelan oil production rose 4 % in February apareció primero en Bitfinance.

Trading of cryptocurrency platforms such as Deribit, Coinbase and Greeks.live reached a record level in February this year, according to recent reports.

The aforementioned cryptocurrency exchange platforms gave record transaction referrals in the month that just ended. Deribit, in fact, “experienced multiple trading records on its platform, with cryptocurrency options and futures trading seeing open interest surpass an all-time high of $29 billion.”

There are records of the assets of the clients of the platform at a maximum of USD 4 billion. For its part, “the company’s 24-hour volume of operations reached 12.4 billion dollars, another historical high.”

Similarly, Coinbase Institutional announced on its X account that its futures exchange in the United States reached a record amount on February 29, which it defined as “the second-best day in its history, with a notional volume traded of approximately $380 million in bitcoin and ether contracts.”

“Coinbase Derivatives is committed to fostering a fair, transparent, trustworthy and efficient market for a diverse set of participants,” they said.

The Greeks.live platform recorded a record daily volume through its platform, reaching USD 620 million in options volume.

M.Pino

Source: cripto247

(Reference image source: Kanchanara at Unsplash)

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La entrada Earnings from cryptocurrency exchanges reached record levels in February apareció primero en Bitfinance.