Peru: Mining, hydrocarbons up 5.24% in March 2018

14:39 | Lima, May. 1.

The mining and hydrocarbon sector expanded 5.24% last March, mainly underpinned by the dynamism of metallic-mining and hydrocarbons, National Institute of Statistics and Informatics (INEI) reported Tuesday.

This is the first expansion since December 2017 (+5.55%), as the mining and hydrocarbon sector experienced declines in January (-1.52%) and February (-2.43%) of the current year.

Within this sector, metallic-mining subsector accounts for 84.6%, whereas hydrocarbons make up 15.4%.

Metallic mining

In the analyzed month, the metallic-mining subsector grew 5.45%, the highest growth rate so far this year.

This result was driven by higher production of molybdenum (+38.6%), iron (+8%), zinc (+7.2%), copper (+6%), and tin (+4.5%).

The favorable prices of mining products worldwide, among other reasons, contributed to said expansion. 


On the other hand, the hydrocarbon subsector rose 4.1% in the third month of the current year.

According to INEI, this increase was mostly explained by higher crude oil output (+21.5%).

It is worth mentioning this subsector grew slightly (+1.14%) in January but slid (-24.61%) last February.


Published: 5/1/2018