Argentina recorded a Trade surplus of US$ 951 million in July andaccumulates a favorable balance of US$ 6.540 billion in the first seven months of the year, reported this Wednesday (21.08.2019) the INDEC.
“In July, exports reached US$ 5.856 billion and imports, 4.905 billion; trade (exports plus imports) decreased 7,1% compared to the same period of the previous year and reached a value of 10.761 billion; the trade balance thus registered a trade surplus of 951 million,” the organization stated.
Exports in July increased by 8,3% (US$ 449 million) compared to the same month in 2018, mainly due to the increase in quantities of 20,2%, since prices fell by 9,9%,” detailed the official report.
“Compared to June 2019, July exports increased by 11,9%, while in seasonally adjusted and trend-cyclical terms, they rose by 7,8% and 0,1%,” he added.
In July, exports of primary products and manufactures of agricultural origin (MOA) recorded year-on-year growth of 56,2% and 9,5% respectively.
In turn, exports of manufactures of industrial origin (MOI) fell 17,8% while fuel and energy sales fell 6,3%.
"Imports in July fell 20,6% compared to the same month last year (US$ 1.274 billion); prices fell 6,9% and quantities shrank 14,8%," said Indec.
In July, imports registered “a rise of 17,5% (compared to June), while, in seasonally adjusted and trend-cycle terms, they increased by 3,8% and 1,9%, respectively.”
In July, imports of capital goods fell by 25,3%, those of intermediate goods declined by 8,3% and external purchases of fuels and lubricants fell by 40,4%.
Foreign purchases of parts and accessories for capital goods fell by 4,6%, imports of consumer goods fell by 24,9%, and imports of passenger vehicles fell by 49,3%.
“The trade surplus was the result of an increase in exports, which was mainly explained by an increase in sales of seeds and oleaginous fruits, cereals, fats and oils; residues and waste from the food industry; meat and edible offal” compared to a drop “in imports of land vehicles, parts and accessories; mineral fuels; mineral oils and products of their distillation; nuclear reactors, boilers, machines, apparatus and mechanical devices, among others,” described INDEC.
As for the Major trading partners, exports to Brazil fell by almost 13% but imports plummeted by 35,4%. Thus, the net balance was negative by US$65 million. The most striking data is in sales to Vietnam, which rose by 130,9% and meant revenues of US$333 million. Shipments to India also grew strongly, with increases of 70,6%, ASEAN with an increase of 34,3% and Chile of 5,3%.
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