Peru, the world's third largest copper and zinc producer, saw metals export revenue drop 24.5% in the first two months of the year, according to the country's main exporters association Adex.
Commodities, which account for 70% of Peru's exports, dropped 16.7% to US$4.1bn through February, Adex said in a statement.
Total exports fell 10.1% to US$5.94bn in the first two months, while imports dipped 4.3% to US$6.8bn, reported bnamericas.com
Mining exports, particularly gold, fell on slumping metals prices due to the economic slowdown in China, Adex said. Steel and other finished metal products dropped 15.8% through February, while non-metallic mining exports declined 15.2%, according to the group.
Metal structures were one of seven sectors to rebound in February, increasing 14.3%, Adex president Gastón Pacheco said in the statement.
Metals exports declined 12.5% to US$23bn last year on slumping copper and gold prices, as Peru's total exports fell 9.5% to US$41.8bn, according to the central bank.
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Published: 4/6/2014