The different official strategies and incentives so that Argentinos will unleash their dollars accumulated in recent years, not only via bleaching, but also They hit the deficit balance of the exchange balance of the services sector last year.
Thus, according to official data, external operations linked to the services recorded a deficit of US $ 526 million last December, very similar to the previous month but substantially higher than one year ago -when the change of government and devaluation collapsed trips abroad. In this way, the annual balance shows a negative balance of US $ 4,875 million, which implies a Improvement of 21% year -on -year. It is a level similar to that of 2021, after the strong fall as a result of the pandemic.
What the Central Bank data (BCRA) show is how Deatesoring collaborated with the official wishes to accumulate, or at least maintain, international reservesas well as the dollars entered by foreign tourists to the exchange market via financial dollars. Is that it is unavoidable how The Argentines resident resorted to the dollars treasured to face the payments of expenses abroad, For purchases with credit cards or by tourism, in order not to affect the stock of BCRA reservations.
Services Sector: What happened last December?
On the one hand, the BCRA exchange balance services registered a U $ S526 million deficitwhich results Incomparable with December 2023, which was only US $20 millionbecause there they applied and implemented a series of measures that precisely affect the comparison.
The result of December 2024 is explained by the net expenses for travel, tickets and other card payments for US $ 567 million, of other services by U $ S161 million and freight and insurance for US $127 million.
Red was not greater thanks to the maintenance of the good flow of net income for professional and technical business services that contributed U $ 328 million. In relation to this result, the BCRA highlights that around 60% of trips for travel, tickets and other card payments are directly canceled by customers with their own funds in foreign currency, which reduces the deficit impact of these consumptions on the change market and international reserves.
According to the BCRA methodology, the travel, tickets and other card payments records the turns that are made abroad to cancel balances with international card issuing companies, both consumption that are made by trips abroad and non -face -to -face purchases to abroad suppliers; And reciprocally, the income also includes non -face -to -face purchases that make the use of cards, Argentine suppliers, who qualify as non -residents.
Another issue that affects interannual statistics and comparisons, and also explains the behavior of economic agents is that, like what happens with goods exports, up to 20% of service exports charges can be admitted to the country Through the Stock Market within the framework of the Export Increase Program (PIE), so this portion of the income does not appear in the exchange statistics of the BCRA because any record is made in the informative regime of change operations (RIOC) , except those charges that enter and are deposited in local accounts in foreign currency for subsequent liquidation in the stock market, which are registered as exchange operations, without net effect on the change market.
In addition, on December 22, the validity of the country tax was ended, which was 7.5% for imports of goods, for the payment of freight and transport services for import or export operations of goods, profits of profits and dividends and repatriation of investments of non -residents, and the same for the 30% rate for ticket purchases and currency for treasurement and travel and ticket expenses. In turn, in mid -December, the BCRA established that, As of January 1, 2025, the maximum currency that service exporters can enter without obligation to liquidate them per calendar year increased.
On the other hand, in the performance of the income, the incentive put by the BCRA so that foreign tourists and their local suppliers, since November 2022, could liquidate currencies for the income of funds with non -resident cards for charges for charges for charges for charges Tourism and passenger transport services not for the official market but for informal or financial. In addition, the ARCA extended almost at the end of December that travel and passage expenses operations have a 30% perception of income tax or personal goods, as appropriate.
Sector Services: What happened in 2024?
All this combo of regulations explains, in large part, the annual results. Let’s see. In the annual accumulated of the revenues and gross expenses of services by concept and its comparison with the same period of the previous year arises that The improvement of the 2024 of the Services account was, mainly, the result of the increase in the gross income of travel, tickets and other payments with business, professionals and technical cards and servicesalthough it should not be avoided that the establishment since December 2023 of the regulations that allow to liquidate up to 20% of the exports of services in the stock market prevents an accurate comparison of these flows.
Anyway, the annual numbers show that, on the side of the gross income that increased by 17% year -on -year Au $ S856 million, the 56% increase via trips, tickets and payments with cards au $ 2,808 million, while those of professional and technical services grew by 6% au $ 5,768 million and those of freight and insurance fell 12% au $ 280 million.
While, on the side of the gross expenses, which added US $ 1331 million practically the same level of a year ago, Only freight and insurance accused a decrease of 34% au $ 1,377 million since both professional and technical services and trips, tickets and expenses with card experienced a rise of 19% and 1% respectively, au $ s3.857 million YU $ S8.496 million.
“On the other hand, the operations for primary income represented a net exit of US $ 523 million in December, explained by net interest payments for US $ 508 million and net expenditures of profits, dividends and other income abroad for US $ S15 million. In addition, the Government and the BCRA made gross interest cancellations for US $ 196 million (159 million turned to international organizations – exchanged the FMI- and 37 million for other concepts) ”, The BCRA reported. On the other hand, the gross cancellations of the private sector amounted to Au $ 384 million and the secondary income operations represented a net discharge of US $ 26 million.
Source: Ambito
I’m a recent graduate of the University of Missouri with a degree in journalism. I started working as a news reporter for 24 Hours World about two years ago, and I’ve been writing articles ever since. My main focus is automotive news, but I’ve also written about politics, lifestyle, and entertainment.
