Argentina's trade balance remains weak: in October it had a deficit of $454 million and has accumulated a negative balance of USD 7.396 million so far in 2023, according to INDEC data.
With this new balance, the country's trade balance has been negative for nine consecutive months; only in February was a surplus achieved.
Specifically, Argentina achieved exports for USD 5.385 million, with a decrease of 32,4% and the imports totaled USD 5.839 billion, which represented a 3,9% year-on-year drop.
Trade volume (exports plus imports) fell 20,1% year-on-year in October to USD 11.224 billion.
According to INDEC, the fall in exports last month was due to a 23,9% drop in quantities and an 11,1% drop in prices. All items fell: fuels and energy (-7,3%), primary products (-XNUMX%), and other products (-XNUMX%).51,3 % OFF), manufactures of agricultural origin (32,6 % OFF) and manufactures of industrial origin (-21,8%).
Imports fell due to a 9,1% drop in prices, as quantities rose by 5,7%, while by economic uses, fuels and lubricants (-17%), intermediate goods (-11,1%), capital goods (-3,4%) and the rest rose by 33,3%.
In October, trade by economic zone and country registered a downward trend.
Specifically, Argentina had a trade deficit with China of USD 800 million, the European Union of USD 478 million, MERCOSUR of USD 202 million and the USMCA (United States, Mexico and Canada) of USD 30 million, in that order.
However, it maintained a trade surplus with Chile of USD 368 million, Peru of USD 145 million and the United States of USD 47 million.
Accumulated for the ten months of 2023
With these data (fueled by the drought, strict restrictions and the increase in the effective exchange rate, in addition to the fall in international prices of the basic goods that Argentina exports), the deterioration of the trade balance in the first ten months of 2023 leads the country to accumulate a trade deficit of $7.396 million, with exports between January and October of last year amounting to USD 56.580 billion (-24,8% year-on-year) and imports amounting to USD 63.976 billion (-9,6% year-on-year). (Argentine trade exchange
Estimated figures for October 2023. Indec)
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