The President of the National Industrial Society (SNI) Luis Salazar said the decline in the global price of oil will result in a major expansion of industrial output starting in the first quarter of 2015.
Salazar specified the main benefit of this situation is the significant reduction of production costs, particularly energy and transport.
“There is no doubt this circumstantial factor will favor our industry. However, in respect of energy consumption, these benefits will be present to a greater or a lesser degree depending on the output level,” he told the official gazette El Peruano.
SNI's official also assured the industrial sector’s results recorded so far are based on the reduced production of primary manufacture.
“Nevertheless, things are presented differently this year. A higher recovery is observed in the economy of the United States, which is important if we consider it is the main destination of our exports,” he added.
(END) DOP/RES/RMB/MVB
Published: 1/21/2015