The trade balance closed January with a surplus of 1068 million dollars, 2,3 percent above the same month last year, Indec reported on Thursday (25.02.2021).
Foreign sales were supported by improved international prices for agricultural commodities. Thus, Export earnings rose 7,3 percent to $4912 billion, while Imports grew by 8,7 percent and reached 3844 million.
In January, the main destinations of Argentine exports were: Brazil, India, China, the United States, Chile, Iran, Vietnam, Indonesia, the Netherlands and Spain, in that order, details Indec.
However, most important surpluses of January corresponded to trade with the India, with a surplus of 344 million dollars, followed by Iran (198 million), Chile (187 million), Indonesia (147 million) and the Netherlands (101 million). Meanwhile, the largest deficits were recorded with China (584 million dollars), Germany (140 million) and the United States (78 million).
The main boost to exports came from international prices, which increased by 10,7 percent. On the other hand, quantities decreased by 3,1 percent. At the sectoral level, agriculture explains the improvement in foreign sales, since the rest of the sectors had declines.
The main exported products were flour and pellets from the extraction of soybean oil. (US$516 million) and crude soybean oil (US$299 million), followed by vehicles for the transport of goods and crude petroleum oils. There was a year-on-year decline in exports of wheat, fuels and lubricants for ships and aircraft, soybeans, natural gas and barley grain.
On the import sideThe year-on-year increase was reflected in both quantities and prices, with rises of 7,3 and 1,4 percent, respectively. All economic uses registered positive variations, except fuels and lubricants (CyL).
Foreign purchases of capital goods rose 12,2 percent, while intermediate goods rose 14,2 percent. Parts and accessories for capital goods rose 2,5 percent, and consumer goods 3,9 percent. The biggest jump was in passenger motor vehicles, with an increase of 41,1 percent. At the product level, imports of iron agglomerates, non-alloy steel and soybeans stood out. On the other hand, there were decreases in diesel oil, meningitis vaccine and fuels and lubricants for ships and aircraft.
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