Mining and hydrocarbons contribute significantly to the Peruvian economy. In 2011 and 2012 the extractive sector accounted between 6 and 7% of GDP, according to the Ministry of Energy and Mines. In 2012 the sector generated around 2/3 of of total Peruvian exports. Mining and gas exports reached USD 26 billion.
Peru occupies a leading position in the global production of mineral commodities such as copper (second after Chile), gold (sixth after China, Australia, South Africa, the United States, and Russia), lead (fourth after China, Australia, and the United States), molybdenum (fourth after China, the United States, and Chile), silver (first followed by China and Mexico), tin (third after China and Indonesia), and zinc (second after China).
The country is a significant producer of oil and gas. Ongoing development of natural gas and condensates in the Camisea basin is boosting the extractive sector contribution to Peru’s economy and to the government’s fiscal revenues. The sector employs around 3 million people, 200'000 in direct empoyment.
Two subnational EITI pilots are implemented in the Piura and Moquegua regions. Local multi-stakeholder groups have been institutionalized by law, action plans are approved and the first two regionals EITI reports are underway. The Loreto region is planning a similar pilot.
The forecoming national EITI Report covering the fiscal year 2013 is expected to be published during the first semester of 2015. Peru's EITI is updating its work plan including the transition to the EITI Standard.
In February 2012, the EITI Board designated Peru as a Compliant country.