In line with the recovery of international trade, Argentina's trade balance reached a surplus of USD 1.067 million in June, although the figure is USD 420 million lower than in the same month of 2020, according to the National Institute of Statistics and Census (INDEC).
In this regard, the agency noted that "in June, all general magnitudes (value, quantity and price) of exports and imports increased."
imports showed an increase that reached USD 2.610 billion. This increase can be explained by the 47,7% rise in quantities and 22,0% in prices. In seasonally adjusted terms, imports increased by 8,5% and, according to the cyclical trend, they rose by 1,9% compared to May 2021 in both cases.
"All the economic usesThe following items registered positive variations: capital goods (BK), 62,0%; intermediate goods (BI), 78,0%; fuels and lubricants (CyL), 210,6%; parts and accessories for capital goods (PyA), 107,6%; consumer goods (BC), 14,3%; passenger motor vehicles (VA), 45,9%; and the rest, 74,2%, mainly due to the increase in goods shipped through postal services (couriers),” INDEC stated.
exports They grew by USD 2.190 billion compared to the same month in 2020, mainly due to a 32,0% increase in prices and a 10,6% increase in quantities. In seasonally adjusted terms, they grew by 8,9%, while the cycle trend rose by 2,1% compared to May 2021.
The INDEC detailed that "all the items increased: manufactures of industrial origin (MOI), 116,2%; manufactures of agricultural origin (MOA), 39,9%; fuels and energy (CyE), 35,2%; and primary products (PP), 18,6%.”
The evolution of the meat exports, which in June stood at 223 million dollars and showed a drop of 17,1 percentThis result is related to the temporary closure of beef exports implemented by the government.
Destinations
In June, the main destinations for Argentine exports were: Brazil, United States, China, The Netherlands, Chile, India, Vietnam, Iran, Egypt and the Republic of Korea (in that order), which together accounted for 55,9 percent of total foreign sales.
The top ten countries of origin of imports were: China, Brazil, United States, Paraguay, Germany, India, Russia, Mexico, Thailand and Italy, and represented 70,5 percent of total foreign purchases.
The largest surpluses in June were recorded in trade with the Netherlands ($288 million), Chile ($252 million), Iran ($210 million), Vietnam ($183 million), India ($147 million), Indonesia ($137 million), Egypt ($134 million), Algeria ($128 million), the Republic of Korea ($128 million) and Peru ($117 million).
The largest deficits were also recorded with China (-675 million dollars), Paraguay (-254 million), Germany (-166 million), Qatar (-109 million), Thailand (-101 million), Russia (-99 million), Mexico (-86 million), Brazil (-75 million), France (-57 million) and Bolivia (-44 million).
Finally, INDEC reported the analysis of the first half of 2021. In this period, the foreign trade equation shows a surplus of 6740 million dollars, below the 8313 million of the same period last year. The inflow of commercial dollars is currently the most relevant way for the Argentine economy to obtain foreign currency.INDEC Technical Report No. 5)
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