In the first two months of the year, despite a complex external environment and internal difficulties, Argentina's foreign trade maintained a positive trend that began in December 2023, after a year with few rising values. Official statistics published by INDEC this Tuesday (19.03.2024/1.438/XNUMX) show a trade surplus of USD XNUMX million during February.
According to official data, Argentina exported US$5.531 billion in February, 5,6% more than the same month in 2023.
Meanwhile, imports totaled $4.093 billion, representing a year-on-year drop of 18.6%.
The February figures are largely explained by an increase in export quantities (13,5%) and a fall in imported quantities (13,2%). Prices, on the other hand, fell by around 6% in both categories.
Furthermore, the surplus recorded in the second month of this year is almost double that achieved in January, which reached 797 million dollars.
According to official data, trade volume (exports plus imports) fell by 6,3% year-on-year in February to a total of $9.624 billion.
Rises and falls by sector
As regards the items of the exports, Primary products rose by 18,8%, agricultural and livestock products rose by 8,0%, industrial products fell by 3,9% and sales of fuels and energy fell by 3,2%.
In relation to imports, the economic use most affected by the decline was that of Fuels and lubricants, with a drop of 73,9%, Consumer goods fell 19,7%, Intermediate goods decreased 12,2%, Capital goods grew 0,4% and Passenger motor vehicles rose 41,3%.
Furthermore, the surplus recorded in the second month of this year is almost double that achieved in January, which reached 797 million dollars.
According to official data, trade volume (exports plus imports) fell by 6,3% year-on-year in February to a total of $9.624 billion.
Trade with major partners
Regarding trade with major partners, statistics show the following situation:
Brazil. A positive balance of USD 15 million was recorded with the Federative Republic of Brazil, as a result of USD 1.028 million exported and USD 1.013 million imported from that country.
U.S. The trade balance with the United States was also favorable, with the balance amounting to USD 12 million. The American country bought products worth USD 407 million and sold merchandise worth USD 395 million to our country.
Chile. Good results were also seen with the Republic of Chile. Local entrepreneurs exported USD 416 million to the trans-Andean country and imported USD 52 million, which yielded a result of USD 364 million in their favor.
China. However, the balance was negative with the People's Republic of China (-USD 339 million). The Asian giant bought Argentine products for USD 391 million, but sold merchandise to our country for USD 730 million.
EU. The trade balance with the European Union was also in deficit (-USD 134 million). The countries of the old continent paid USD 467 million for Argentine exports, but received USD 601 million for the products they sold in Argentina.
In short, during the first two months of 2024, Argentina accumulated a trade surplus of USD 2.222 million, with exports of USD 10.928 million and imports of USD 8.706 million.
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