Peru Sees Drop In Mining Production; Economy Slips
By MISNA
Peru’s economy grew by 4.95% in November 2011, which, compared to the same month of 2010, is the lowest growth since February last year because of the decline in mining production, the main source of income at the national level. Thus announced the National Statistics Institute (INEI), stating that in overall terms, the mining industry decreased by 1.67%, particularly as far as gold, zinc, tin and silver are concerned.
As the world’s second largest producer of copper and zinc and the sixth largest producer of gold, Peru has achieved over the period examined also a decrease of 0.73% in manufacturing, a figure which results in decreased production of consumer goods, precious metals and petroleum refining.
At the same time, sectors such as construction, fisheries, agriculture (especially coffee) have grown as has the production of textiles.
