Peruvian mining exports grow 6.2% in first half of 2022

Peruvian mining exports reached US$19.517 billion between January and June 2022, representing a growth of 6.2 percent compared to the same period last year, the Ministry of Energy and Mines (Minem) reported Wednesday.

According to the Mining Statistical Bulletin issued by Minem, these “positive indicators” were due to the most significant increase in demand for copper, silver, tin, and lead if June alone.

The main export product was copper, which amounted to US$10.246 billion in the first half of the year, of which US$1.971 billion was if June.

The more than US$1.9 billion collected in the sixth month was the “highest value this year” and represented a 21 percent increase over the same month of 2021, “boosted by increased demand from China.”

“It is worth noting that copper remains the main Peruvian product in the international market, accounting for 30.8 percent of total Peruvian exports,” the ministry added.

For gold, India remained the largest buyer of this mineral, accounting for 26.9 percent of total shipments, followed by Switzerland and Canada.

For zinc, the cumulative change between January and June increased by 14 percent compared to the same period last year, with Spain as the first export destination, followed by the Republic of Korea and China.

The Minem recalled that mining accounts for 60 percent of national exports, including metallic and non-metallic minerals, and is a significantor contributor to the South American country’s trade balance.