Argentina recorded a trade surplus of 400 million dollars last March, which represented a year-on-year contraction of 65%, the National Institute of Statistics and Census (Indec) reported on Thursday (23.04.2021/XNUMX/XNUMX).
According to official data, the volume of trade (exports plus imports) increased by 46,5% year-on-year and reached a value of 11.040 billion dollars.
The Imports in March increased by 68,7% compared to the same month of the previous year and the Exports grew by 30,5%, the highest level recorded since November 2019.
The trade balance recorded a US$ 400 million surplusThis is US$ 828 million lower than in the same month of 2020. “In March, all general magnitudes (value, quantity and price) of exports and imports increased,” said INDEC.
Imports increased to US$2.166 billion, due to a 64,2% increase in quantities and a 2,8% increase in prices. In seasonally adjusted and trend-cycle terms, imports grew by 13,8% and 1,4%, in each case, compared to February 2021.
“All economic uses recorded positive variations. Capital goods (BK) rose 80,5%; intermediate goods (BI), 81,2%; fuels and lubricants (CyL) 28,3%; parts and accessories for capital goods (PyA), 82,3%; consumer goods (CG), 39,9%; and passenger motor vehicles (PMV), 15,3%,” the report said.
Exports, for their part, gained US$ 1.337 million compared to the same month in 2020, mainly due to a 13,9% increase in prices and a 14,6% increase in quantities. In seasonally adjusted terms, March exports increased 0,6% and 2,8% compared to February 2021.
As for the items, all presented increases "except fuels and energy (CyE) which registered a slight decrease of 0,7%". Exports of manufactured goods of agricultural origin (MOA) increased by 63,7%, primary products (PP) 14,7% and manufactures of industrial origin (MOI) 15,2%,” detailed the Indec.
Destinations
The main destinations of the exports Argentines were in March Brazil, China, Vietnam, the United States, Chile, India, the Netherlands, Malaysia, Spain and Peru, in that order, which together accounted for 53,9 percent of foreign sales.
For their part, the top ten countries of origin of the imports were: Brazil, China, Paraguay, the United States, Germany, Vietnam, Thailand, Mexico, Italy and Bolivia, and represented 74 percent of total foreign purchases.
Argentina has been in recession for the third year and faces a large deficit in public accounts, which means it needs, among other factors, to increase its foreign currency earnings through increased exports.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
