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Peru’s copper exports revenue grows 45%

Peru’s copper exports revenue grows 45%

LIMA: Peru’s copper exports revenue grew by 45 percent in the first half of 2017, Peru’s National Society of Mining, Petroleum and Energy (SNMPE) said Wednesday. Peru’s copper exports reached 6.184 billion U.S. dollars in the first half of 2017, up from last year’s 4.277 billion dollars, while its combined mineral exports amounted to 12.265 billion dollars with a 28-percent increase year-on-year, according to the SNMPE. Copper, gold and zinc have led the growth in Peru’s mineral exports revenue, thanks to the higher prices on the international stage, where China has been the leading market for Peru’s copper, followed by India, Japan and South Korea. Prior to South Korea, Spain, Brazil and Japan, China was also Peru’s main market for zinc, which brought a revenue of 1.052 billion dollars, a 74 percent increase from 2016’s 603 million dollars.

Peru’s gold exports reached 3.623 billion dollars, a 3 percent increase over last year’s 3.510 billion dollars, with the leading markets being Switzerland, the United States, India and Canada. Improved raw materials prices are expected to help boost Peru’s flagging economic growth to 2.5 percent this year and about 4 percent next year.