Argentina recorded a trade deficit of USD 437 million in July, the National Institute of Statistics and Census (INDEC) reported on Monday (22.08.2022). This deficit contrasts with the surplus of USD 1.536 million that had been recorded in the same month of the previous year.
The exports Argentines in the seventh month of the year increased by 7%, compared to the same period of the previous year, reaching USD 7.732 million. The increase in foreign purchases is explained by the rise in prices, which increased by 13,4%, while the quantities exported fell by 5,6%. All items registered increases: manufactures of agricultural origin (MOA), 12,1%; fuels and energy (CyE), 7,8%; primary products (PP), 4,6%; and manufactures of industrial origin (MOI), 3,6%.
Meanwhile, the imports expanded by 43,7% year-on-year to $8.210 million. This is the result of a rise in prices by 27,8% and in imported quantities by 12,4%. Again, fuels and lubricants (CyL) were the main import expenditure with an increase of 217,7%. Other economic uses also registered positive variations, except for the rest which fell by 1,9%, mainly due to the lower purchase of goods dispatched by postal services (Courier). Thus, passenger motor vehicles (VA) accounted for 41,8%; parts and accessories for capital goods (PyA), 31,4%; capital goods (BK), 23,3%; consumer goods (BC), 17,8% and intermediate goods (BI), 11,3%.
According to the official report, in the first 7 months of the year Argentina accumulated a surplus of $2.540 million, compared to USD 8.310 billion in the same period in 2021.
With Brazil, its main trading partner, Argentina had a trade deficit of USD 7 billion in these 2.481 months, while with its second largest trading partner, China, it registered a trade deficit of USD 6.582 billion. With the United States, the country also had a smaller balance of USD 3.047 billion.
These three partners together absorbed 27,5% of Argentina's exports and supplied 53,3% of imports. (Argentine trade. Estimated figures for July 2022, Indec)
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