Saturday, June 11, 2011

Peru's dependence on big mining companies

The fact that over 60% of all Peru's exports are metals is well known, but something that underlies that is the dependence the country has on its biggest mining companies. This chart, drawn up from the latest export figures from Comex Peru and those of the Central Bank that take January to April 2011 as our timeframe, highlights this dependency.

In other words, the ten biggest mining companies in Peru account for more exports (and let's remember that the whole of the country's economic model still hinges on its exports) than everything nonmetallic exported by Peru. That's a long long list including the big sectors of fishery, agro, oil and gas (especially LNG these days) textiles, wood and paper, and a lot of other sectors as well.

And which are the top ten export companies in Peru today? Here they are and they're all metals mining companies to boot.