Andina

Peru's economy remained boosted by mining production in July

14:54 | Lima, Sep. 16.

Primary sector activity continued boosting Peruvian economy thanks to the good metal-mining performance displayed during previous months and sectors linked to the domestic demand, which made up for fisheries and hydrocarbon sectors' results, Banco de Credito del Peru (BCP) affirmed.

Mining and hydrocarbon sector expanded by 9.3%. Thus, these contributed to economic growth by adding 1.07% percentage points to Peru's July GDP.

It was boosted by metal mining sub-sector (16.6%), which continued displaying a good performance due to higher copper, zinc and silver production.

"Production growth is mainly explained by higher extraction at Antamina, Antapaccay and Toromocho mines, whereas Constancia has been consolidating successfully,” it pointed out.

Leading indicators

Likewise, BCR mentioned that electricity production accelerated (7.0%), mainly explained by great copper mining's electricity demand.

(END) RGP/RGP/AVV/MVB 

Published: 9/16/2015
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