Argentina recorded a trade surplus of $2.187 billion in August

In August, Argentina recorded a surplus of $2.187 billion, according to data from the National Institute of Statistics and Censuses (INDEC), which attributes this result to a period of 33 consecutive months with a positive trade balance.

According to the local agency, this positive balance is the result of exports of $8.883 billion and imports of $6.696 billion. “In year-on-year terms, exports increased by 12.4 %, while imports grew by 3.6 %.”

In short, trade reached $15.579 billion in August, $8.4 million more than in the same month of 2015. The increase in exports is attributed to a 16.0 % rise in prices and a 3.1 % increase in volume. Notable increases were seen in sectors such as fuels and energy (41.2 %), manufactured goods (18.0 %), and agricultural products (16.7 %).

“By destination market, exports increased to Mercosur (3.5 %), USMCA (8.1 %), the European Union (29.6 %), India (33.4 %), and ASEAN (99.3 %),” although they decreased to China (-50.6 %).

Regarding imports, there was a year-on-year increase of 3.6 %. Prices rose by 11.0 %, while volume decreased by 6.5 %. “Regarding economic uses, the growth was mainly due to increased imports of fuels and lubricants (68.5 %) and intermediate goods (13.4 %).

Purchases of capital goods also increased (3.1 %).” Imports of parts and accessories for capital goods (-8.8 %), consumer goods (-5.1 %), and passenger motor vehicles (-23.6 %) declined. In the case of fuels and lubricants, the increase was due to higher quantities (24.3 %) and prices (34.0 %).

By origin, imports increased from the European Union (11.4 %), China (13.9 %), and India (13.9 %), but decreased from Mercosur (-3.4%), USMCA (-16.3 %), and ASEAN (-14.4 %).

M.Pino

Source: aduananews

(Reference image source: Kurt Cotoaga on Unsplash)

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