(Kitco News) – The National Institute of Statistics and Informatics of Peru (INEI) announced today that the domestic mining and hydrocarbons sector fell by 6.62% in May 2022 over May 2021.
INEI said that this negative performance was due to the decline in Peru’s metals mining subsector (-10.69%), associated with lower production of zinc (-17.9%), lead (-15.9%), copper (-12.6%), silver (-11.1%), iron (-3.7%) and gold (-2.0 %).
According to the report, this was partially offset by higher domestic production of tin (6.0%) and molybdenum (3.5%).
INEI added that Peru’s hydrocarbons subsector increased by 20.33%, primarily due to the higher extraction of natural gas (79.9%), crude oil (10.4%) and natural gas liquids (3.4%).