Argentine trade in January registered a positive balance of US$ 1.015 million, with exports of US$ 4.549 million and imports of US$ 3.534 million, according to a report by Indec on Friday (21.02.2020).
According to the organization, trade exchange (exports plus imports) decreased 8,1% compared to the same period of the previous year and reached a value of US$ 8.083 million dollars.
In the first month of the year, the Exports fell 0,8% year-on-year, mainly due to the price drop of 2,2%, as quantities rose by 1,5%. In seasonally adjusted terms, January exports fell by 6,6% compared to December, while the cycle trend showed a negative variation of 0,6%.
Exports of fuels and energy, industrial manufactures and agricultural manufactures fell year-on-year by 11,1%, 9,3% and 6,4%, respectively, while those of primary products increased by 16,5%.
On the side of Imports plummeted 16,1% year-on-year in January. Quantities fell by 9,7% and prices fell by 7,1%. In seasonally adjusted terms, imports rose by 9,3% compared to December, while the cyclical trend showed a negative variation of 0,7%.
In January, imports of capital goods fell by 12,2%; those of intermediate goods by 18,1%; those of fuels and lubricants by 6,3%; those of parts and accessories for capital goods by 15,2%; those of consumer goods by 10,6%; and those of passenger motor vehicles by 47,7%.
According to the Indec report, the trade surplus of US$ 1.015 million was mainly due to the fall in imports, due to lower purchases of seeds and oleaginous fruits; nuclear reactors, boilers, machines, mechanical devices and artifacts and their parts; machines, electrical devices and material and their parts; and land vehicles, their parts and accessories; among others. “Although exports registered a fall (0,8%), it is important to highlight the increase in exports of cereals; meat and edible offal; and seeds and oleaginous fruits, among others,” he added.
If prices had been the same as in the previous year, the trade balance would have shown a surplus of US$ 849 million. Under this assumption, the country had a gain in terms of trade of US$ 244 million, because the import price index had a greater fall (-7,1%) than the export price index (-2,2%).
Destinations
Likewise, Indec noted that Argentina's main trading partners in the first month of the year were Brazil, a country with which exports decreased by 0,4% and imports by 10,9%, and China, a nation to which 6,8% more was sold year-on-year and 7,4% less was purchased year-on-year.
With United States Exports also fell by 27,2% and imports by 38,8%.
These three countries together absorbed 26,3% of national exports and supplied 51,9% of imports.
Among the destinations for Argentine production that are growing are countries such as Vietnam (67,4%), India (33,9%),Indonesia (26,0%).
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