The deficit between income in dollars from products that Argentina exports to the world and those items purchased abroad is growing. The trade balance registered a negative balance of USD 1.727 billion last June.
According to the National Institute of Statistics and Census (Indec) on Wednesday (19.07.2023), the volume of trade fell by 26,1% year-on-year in June, to a total of USD 12.627 billion.
According to official data, the country completed in June, exports for USD 5.450 billion, 35,4% less than the same month in 2022.
This drop was mainly due to a 24,8% drop in quantities and the 14,0% in international prices. Thus, all items decreased: fuels and energy (37,7%); primary products (36,7%); agricultural manufactures (36,1%); and industrial manufactures (32,1%).
Meanwhile, imports totaled USD 7.177 million, which represented a year-on-year drop of 17,2%, due to a drop in prices (10,5%) and quantities (7,6%).
Thus, trade was in deficit with the main partners such as MERCOSUR (USD 4.881 million), China (USD 3.929 million), the economic zone of the United States, Mexico and Canada (USD 2.035 million) and the European Union (USD 2.015 million).
Foreign trade in goods was positive with Chile (USD 313 million), India (USD 210 million) and Vietnam (USD 169 million).
First semester of 2023
This decline in both exports and imports was observed in the first half of the year.
Argentina accumulated a trade deficit of $4.387 million, compared to a positive balance of USD 2.977 million in the same period of 2022, with exports in the first half of the year amounting to USD 33.509 million and imports amounting to USD 37.897 million.
INDEC Foreign Trade Technical Report, June 2023.
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