Extractive industries —mining, gas and oil— contributed around S/68 billion (about US$20.92 billion) to the Inca nation’s GDP in 2016, Peru's Energy and Mines Ministry affirmed.
"Extractive GDP stands at S/68 billion and is one of the most important for Peruvian economy, as it accounted for 13.6% of total GDP in 2016," Minister Cayetana Aljovin pointed out.
Extraction-related activities also made up 7% of national tax revenue at S/6 billion (about US$1.85 billion) last year.
"In addition, extractive industries' exports reached US$25 billion, that is, nearly 69% of total exports. Thus, they constitute the most relevant source of foreign currency earnings for the State," she added.
In this sense,
Arequipa, Cusco, Ancash and Apurimac regions contribute the most to Peru's extractive GDP, whereas Pasco and Apurimac
depend the most on these industries.
Sustainable mining
Finally, Aljovin noted that while
mining activity affected the environment in the past, technological development allows for a sustainable industry nowadays.
"Sustainable
mining can coexist with other economic activities, boosting them rather than displacing them. It can coexist while respecting the environment and indigenous populations," she concluded.
(END) CNA/MVB