Peru exported mining products worth $1.1bn worth in April, down by 50.5pc compared to the same month in 2019 due to lower shipments of copper, iron ore, lead, and zinc.
The country’s iron and steel products exports declined by 67.8pc to $32.7mn in April, from $101.7mn in the same month last year, according to the latest National Institute of Statistics and Informatics (Inei) data.
During the month, copper exports dropped by 51.1pc to $746.8mn from $1.5bn in April 2019, while zinc shipments fell by 20pc to $143.3mn from $179mn during the same period under comparison. Lead exports reached $75.8mn in April, down by 48.5pc from $147.2mn in the same month last year and iron ore shipments declined by 42pc to $26.3mn from $45.3mn, Inei data indicated.
The South American country exported 67.6pc of its total copper production to China, Inei noted without disclosing the volume, but indicated that this shipment represented $504.9mn in April this year, down by 54.5pc compared to $1.1bn in the same month last year. China, South Korea, Japan, Italy, Spain, the US, Brazil, and Chile were some of the key destinations that received mining products from Peru in April.
Peruvian zinc export prices decreased by 34.7pc in April this year compared the same month the prior year, Inei said without disclosing the price. Copper export prices declined by 19.9pc, while lead and iron ore prices also dropped by 15.8pc and 8.7pc, respectively.
The mining industry is one of the most important economic activities in Peru, representing about 9pc of GDP and 60pc of the country’s exports. Copper and Gold are the most important metals exported by value.