Andina

Peru's mining exports up 24% from 2016


17:40 | Lima, Feb. 8.

Peru's mining (metallic and non-metallic) exports amounted to US$27.745 billion in 2017, up by 24% compared to 2016, Energy and Mines Ministry (MEM) reported Thursday.

Said amount accounted for 61.8% of the total value of Peruvian shipments in 2017.  

According to MEM's latest mining newsletter, the value of mining exports remains on the upward trend due to an increase in metal prices and in mining production. 

The report also notes the daily price of the most demanded metals rose compared to 2016. 

This way, the metals that increased their value include copper (30.1%) silver (6%), zinc (29.1%), gold (11.9%) and lead (25.7%).

Economic benefits 

MEM also explains the increase in export value generates GDP growth.

This results in the creation of more jobs and in higher incomes for the population.

Finally, the newsletter underlines the more minerals exported and traded, the more foreign currency will flow into the country.

(END) ECS/MDV/FGM/RMB

Published: 2/8/2018