He Ministry of Energy and Mines (Minem) reported that the value of metallic and non-metallic mining shipments totaled US$3,492 million, a notable increase of 23% compared to what was reported in July 2022 (US$2,839 million). Copper (+31.6%) led the way.
The August Mining Statistical Bulletin (BEM) points out that this result was supported by China’s announcement to make its monetary policies more flexible (stopping the increase in its interest rates), “which contributed to the performance of the trade flow with the Peruvian State.” .
The results as of the seventh month of 2023 were US$24,484 million, a growth of 7.5% compared to the same period of the previous year (US$22,778 million). This, due to the fall in inventories in the Asian giant, main consumer of copper and zinc in Peru.
In this way, mining is consolidated as the activity that contributes the most to the trade balance and the main source of foreign currency. The representation of the mining subsector in July was 65.4% of total shipments. Of the total, 97% corresponds to metallic minerals and 3% to non-metallic minerals.
Metallic and non-metallic exports: copper advances 31.6%
Metallic mining exports reached US$3,411 million in July, a positive variation of 24.5% compared to what was registered in July of the previous year (US$2,739 million).
This increase was supported by higher volumes of copper (+31.6%), gold (+3.9%), refined silver (+31.2%), zinc (+27.3%) and iron (+16 ,2%).
Thus, the value of metal mining exports as of the seventh month of the year (US$23,753 million) registered an increase of 6.9% compared to the same period of the previous year (US$22,223 million).
For their part, non-metallic mining exports totaled US$81 million in July, a decrease of 18.4% compared to the same month of the previous year (US$100 million). Growth was supported by larger transactions in anthracite, natural calcium phosphate, plywood safety glass for automobiles, among others.
Source: Larepublica
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