In August, the exports grew 7,5% year-on-year and the imports fell by 30,3%, according to the report published this afternoon by Indec. Sales abroad reached US$ 5.568 billion (US$ 389 million more than the same month in 2018) and purchases, US$ 4.400 billion (US$ 1.910 billion less). In this way, the trade balance totals twelve consecutive positive records.
Trade (exports plus imports) decreased by 13,2% compared to the same period last year and reached a value of US$ 9.968 billion. The balance recorded a surplus of US$ 1.168 billion.
The increase in exports was mainly due to an increase in quantities of 12,7%, as prices fell by 4,6%. Compared to July this year, exports in August fell by 4,9%, while in seasonally adjusted and cyclical terms they fell by 2,4% and 0,5%, respectively.
Sales of fuels and energy, primary products and agricultural manufactures (MOA) rose year-on-year by 48,3%, 38,6% and 0,6%, respectively, while sales of industrial manufactures (MOI) fell by 8%.
As for the decrease in imports, this was due to the fact that prices fell by 8,3% and quantities shrank by 23,9%. Compared to July, imports in August registered a decrease of 10,3%, and in seasonally adjusted terms they fell by 5,1%, while the change in the trend-cycle showed an increase of 1,3%.
In the eighth month of the year, foreign purchases of capital goods fell by 32%; those of intermediate goods, by 22,1%; those of fuels and lubricants, by 45,3%; those of parts and accessories for capital goods, by 15,4%; those of consumer goods, by 33,5%; and those of passenger motor vehicles, by 61,6%.
Thus, the trade surplus was the result of an increase in exports, which was mainly explained by an increase in sales of oilseeds and fruits; meat and edible offal; cereals; and mineral fuels, mineral oils and their distillation products; and a fall in imports, mainly of land vehicles, their parts and accessories; mineral fuels, mineral oils and their distillation products; nuclear reactors, boilers, machines, mechanical devices and artifacts and their parts; and oilseeds and fruits, among others.
According to INDEC, in August the main trading partners (taking into account the sum of exports and imports) were Brazil, China and the United States, in that order.
In the same period, Argentina had the largest trade deficit with China at 2.589 billion dollars, followed by NAFTA (United States-Canada and Mexico) with 1.836 billion, the European Union with 867 million and Japan with 345 million.
Argentina has accumulated positive trade balances this year with Vietnam, India, Chile, Spain, Switzerland, the Association of Southeast Asian Nations (ASEAN), the African countries that make up the MAGHREB, and ALADI, among others.
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