Peru: Mining exports reach US$32 billion by October 2021

RIO DE JANEIRO, BRAZIL – As a consequence of the global economic recovery and the high prices of the main metals, Peru’s mining exports totaled US$32.8 billion between January and October 2021, representing an increase of 59.2% compared to the same period in 2020 (US$20.6 billion).

According to figures from the Ministry of Energy and Mines (Minem), the vast majority of this amount corresponds to the value of mining-metallic exports, which, in January-October last year, totaled US$32.3 billion, which is equivalent to an increase of 59.3% in the inter-annual comparison.

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In that period, the value of copper exports grew 67.2% in the inter-annual comparison; gold (33.6%); zinc (55.2%); silver (33.8%); lead (37.3%); tin (137.5%), iron (141.3%), and molybdenum (135.2%).

MINEM’s Mining Statistical Bulletin (BEM) indicates that copper, gold, zinc, and lead together represent 87.6% of the total value of mining exports and 56.7% of the national value exported.

On the other hand, the value of non-metallic exports accumulated between January and October 2021 showed an increase of 49.4% compared to the same period of 2020, as a result of higher transactions of natural calcium phosphate, ceramic tiles, among others.

As of last October, the mining sector contributed 64.7% of total exports (63.7% corresponded to mining-metallic products and 1% to non-metallic products), consolidating the industry as the main support of the Peruvian trade balance.