Figures consolidate mining as the main driver of Peru's trade balance
Last May, the value of metallic and non-metallic mining exports registered operations for US$ 4,114 million, which meant an increase of 17.2% compared to the same month in 2023, when it was equivalent to US$ 3,510 million, a notable variation that has a positive impact on the national economy.
According to the Mining Statistics Bulletin (BEM) of the Ministry of Energy and Mines (Minem), this result was attributed to the rise in the industrial production index in China, driven by the new measures adopted to boost the real estate sector in that country.
By the fifth month of 2024, the value of mining products registered an expansion of 5.3% compared to the same period in 2023, as a result of the increase in the prices of the main metals and the resumption of activities of Volcan Compañía Minera SAA, one of the main producers of zinc and lead.
In this sense, the mining subsector contributed 66.2% of national exports, consolidating its role as the main driver of the country's trade balance and its impact on the generation of economic flows for the national economy.
Within this wide variety of exported minerals, copper, gold, zinc and iron stand out, constituting 88.5% of the total value of mining exports and 58.6% of the total national exports.
Regarding copper exports, in May 2024 they reached US$ 2,079 million, an increase of 9% compared to May 2023, when they reached US$ 1,906 million, due to the favorable year-on-year variation in the price (16.2%) and despite a decrease in the volume shipped due to delays in shipments caused by the drought in the Panama Canal.
For its part, the value of gold exports in May 2024 was US$ 1,268 million, showing a notable improvement of 42.3% compared to the same month in 2023, which was US$ 891 million.
As regards the destination of zinc exports up to May of this year, China maintained its leadership with a share of 31.6% of the total; South Korea was in second place with 13.6%, while Spain was in third place with 11.6%.
