Argentina recorded a trade surplus of USD 2.059 million last March, maintaining the favorable trend that began in December 2023, according to official sources on Thursday (18.04.2024/XNUMX/XNUMX), in a context in which agricultural exports are recovering from the impact of the drought and foreign exchange restrictions.
This is the fourth positive record of the year, which is explained because in March the country completed exports for USD 6.394 million, with an increase of 11,5% year-on-year, while the imports totaled USD 4.335 million, which represented a contraction of 36,7% compared to the same month in 2023.
According to the National Institute of Statistics and Census (INDEC), the volume of trade (exports plus imports) fell by 14,7% year-on-year in March, to USD 10.730 billion.
According to official data, the increase in exports in March was mainly due to an increase in the quantities sold by 21,3%, as prices decreased by 8,0%; thus, sales by items They manifested themselves in this order: primary products (27,4%), fuels and energy (19,2%), agricultural manufactures (15,7%) and industrial manufactures (8,1%).
Imports fell due to a 32,1% drop in quantities and a 6,9% drop in prices, a behavior that responds to the recession that domestic consumption is suffering. economic use, Imports of Fuels and Lubricants (-76,6%), Intermediate Goods (-36,9%), Consumer Goods (-34,1%), Capital Goods (-31,3%), Parts and Accessories for Capital Goods (-30,7%) decreased, while Passenger Motor Vehicles increased by 13,9%.
First quarter of 2024
In the first three months of 2024, Argentina accumulated a favorable trade balance of USD 4.253 million, with exports of USD 17.322 million and imports of USD 13.070 million.
The report also states that the main destinations of Argentine sales in this quarter were: Brazil (17,4%), Chile (7,7%) and the United States (7,1%) in that order. Meanwhile, the origin of purchases was led by Brazil (23,1%), China (18,8%) and the United States (10,3%), respectively. (Argentine trade. Estimated figures for March 2024)
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