The Argentine trade balance registered a US$1.768 billion surplus in October, which maintained a trend of 14 consecutive months of surplus, according to the Indec reported this Thursday (21.11.2019/XNUMX/XNUMX).
In the tenth month of the year, the Exports reached US$5.889 billion and imports, US$4.121 billionThis difference gives rise to the comfortable surplus for the month.
Trade (exports plus imports) decreased by 4,4% compared to the same period last year and reached a value of US$10.010 billion.
The trade surplus was due to an increase in exports, which was mainly explained by an increase in sales of oilseeds and fruits; meat and edible offal; cereals; and waste and residues from the food industries.
A drop in imports also contributed to the surplus, mainly oil seeds and fruits; land vehicles, their parts and accessories; and mineral fuels, mineral oils and their distillation products; among others, says Indec.
In the first 10 months of the year, exports reached US$53.848 billion and imports, US$42.583 billion. This resulted in an accumulated surplus of US$11.265 billion.
Trade (exports plus imports) decreased by 11,0% and reached a value of US$96.431 million.
Exports in the ten months of 2019 increased by 5,4% (2.752 billion dollars) compared to the same period in 2018, mainly due to the increase in quantities of 13,2%, as prices fell by 6,9%. At the level of major items, primary products, fuels and energy, and agricultural manufactures (MOA) increased by 27,9%, 5,7% and 3,3%, respectively, while manufactures of industrial origin decreased (-7,5%).
Imports in the ten months of 2019 decreased by 25,6% compared to the same period of the previous year (-14.620 billion dollars). Prices fell 5,2% and quantities shrank 21,4%. Imports of capital goods fell 32,5%; those of intermediate goods, 14,4%; those of fuels and lubricants, 33,8%; those of parts and accessories for capital goods, 17,2%; those of consumer goods, 28,0%; and those of passenger motor vehicles, 56,3%.
Destinations
In October, the main trading partners (taking into account the sum of exports and imports) were China, Brazil and the United States, in that order.
Exports to China reached 966 million dollars and imports, 950 million dollars. The trade balance was a surplus of 16 million dollars.
Exports to Brazil amounted to 941 million dollars and imports, 793 million dollars. The trade surplus in this case was 148 million dollars.
Exports to the United States amounted to $335 million and imports to $468 million. The deficit with the United States in October was $133 million.
These three countries together absorbed 38,1% of Argentina's exports and supplied 53,6% of its imports.
Countries such as: Vietnam, Chile, Switzerland, Netherlands, India, Indonesia, Peru, and Algeria joined.
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