Real exports of goods and services will expand by 7.0% in 2016 and 9.5% in 2017 boosted by the recovery of mining, which will increase due to production at mega-projects such as Las Bambas and Cerro Verde, Peru's Central Reserve Bank (BCR) forecasted.
"A 7.0% growth rate is estimated, which means a recovery compared to the previous two years. This forecasts takes into account higher mining exports […]," the issuing entity pointed out.
According to the BCR, a better performance at projects such as Toromocho and Constancia is added to higher mining yield, as well as to Antamina production recovery.
"Likewise, a 9.5% growth has been forecasted for 2017, which is linked to higher mining exports thanks to Toquepala expansion and higher production at Las Bambas [mining project]," it remarked.