Oil and mining sector continue to grow in Peru

Peru’s National Institute of Statistics and Informatics released a preliminary report stating that in May 2018 and for the third month in a row, the mining and oil sectors continued to grow.

According to Reuters, both sectors showed a 1.86 per cent interannual growth which was driven by increased production of oil, natural gas, zinc and tin.

In detail, the oil sector showed an interannual growth of 12.54 per cent, while the mining sector grew by 0.16 per cent.

The government report states that, in May, zinc production grew by 8.7 per cent, tin by 4.5 per cent and copper by 1.4 per cent.

Precious metals, on the other hand, did not perform as well. Gold output fell by 4 per cent and silver production went down by 2.6 per cent.

Mining represents 60 per cent of the country’s exports.