Between 2022-Q3 and 2025-Q2, the total Zinc export value of Peru and Australia followed a very similar path. Both experienced a slight downward trend with low volatility in the initial and early middle periods, followed by a slight upward trend with low volatility in the later periods. Overall volatility for both countries was limited. Peru’s final-quarter figure was unexpected, while Australia’s was not. Over the full period, Peru grew at a compound rate of 0.5%, reaching about USD 817,000 in 2025-Q2, while Australia grew at 0.9%, reaching nearly USD 801,000. The two series show a moderate correlation and generally moved in the same direction. In 2025-Q2, Peru and Australia recorded year-on-year growth rates of 32.0% and 25.8%, respectively.
Between 2022-Q3 and 2025-Q2, the ratio of Zinc Concentrate to total Zinc chain exports in Peru and Australia followed different short-term paths but showed some overall similarities. Peru experienced a slight upward trend with low volatility in the initial and early middle periods, a slight downward trend in the late middle period, and again a slight upward trend in the closing period. Australia, in contrast, began with a slight downward trend and later shifted to a slight upward trend. By 2025-Q2, Peru’s ratio reached 74.6%, increasing by 5.2 percentage points year-on-year and rising by 9.3 percentage points compared to 2022-Q3, while Australia’s ratio stood at 63.6%, up 12.1 percentage points year-on-year but slightly below its 2022-Q3 level. Both countries showed limited volatility overall. Peru’s final-quarter value was unexpected, whereas Australia’s was not. The correlation between the two ratios was weak, although they generally moved in the same direction throughout the period.
From 2022-Q3 to 2025-Q2, Zinc Concentrate had a higher position in Peru’s total Zinc chain exports than in Australia’s in more quarters, showing that it played a more prominent role in Peru overall. The positions shifted twice, in 2024-Q4 and 2025-Q1. After 2025-Q1, Zinc Concentrate maintained a stronger and more important role in Peru, especially as its role in Australia weakened. On average, it accounted for 67.7% of Peru’s exports compared with 53.7% in Australia. According to Atubis, the shift in 2025-Q1 was mainly driven by changes in the export value of Zinc Concentrate in both countries.