Argentina's foreign trade posted a surplus of USD 1.601 billion in October, the National Institute of Statistics and Census (INDEC) reported on Tuesday (23.11.2021).
Although this figure is positive, it is 3.95% lower than the result achieved in September, when the surplus was USD 1.667 billion.
Thus, the October result was driven by the performance of exports, which reached USD 6.848 billion, while imports reached USD 5.247 billion.
In this way, in the first ten months of the year, the trade balance totaled 13.940 billion dollars, according to INDEC data.
The exports October exports increased by 46,5% compared to the same month in 2020, due to a 28% increase in prices and a 13,6% increase in quantities. In seasonally adjusted terms, October exports fell 6,0%, in relation
as of September 2021. All items registered increases: fuels and energy, 153,2%; primary products, 73,7%; industrial manufactures, 56,8%; and agricultural manufactures, 16,5%.
As for the imports, an increase of 31% was achieved compared to October of the previous year, as a result of an increase of 11,1% in quantities and 17,9% in prices, driven - in part - by the strong upward escalation of maritime freight, from the reactivation of post-pandemic trade. In seasonally adjusted terms, imports decreased by 5,5%, in relation to September 2021. All the economic uses increased except for passenger motor vehicles (VA), which fell 43,8%.
The INDEC indicated that “Capital goods (BK) increased by 24,9%; intermediate goods (BI), 33,5%; fuels and lubricants (CyL), 191,1%; parts and accessories for capital goods (PyA), 33,6%; consumer goods (BC), 13,1%; and the rest, 35,7%; mainly due to the increase in goods shipped by postal services (couriers).”
Regarding the Business partners, Brazil remained in the lead, being the main destination for Argentine exports and the second supplier of imports, behind ChinaIn annual terms, sales to the neighboring country grew by 50,1%, compared to a rise in purchases of just 13,1%, which translated into a trade surplus of USD 115 million.
The other main destinations for Argentine sales are China and the United States. India, Chile, Korea, Vietnam and the Netherlands also stood out.
Regarding imports, the main countries of origin are: China, Brazil, the United States, Germany, Paraguay, India, Thailand, Italy, Belgium and Egypt.
The most important surplusOctober s corresponded to trade with Chile and India, of around USD 310 million each. There were also surpluses with the Netherlands, Korea, Peru, Vietnam, Bangladesh, Algeria, Brazil and Malaysia. largest deficits were registered with China, for USD 809 million; Germany (USD 147 million), and Thailand (USD 101 million). (INDEC technical report)
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