According to an AFAC report, imports in the sector were US $ 10,584 million, while exports were for US $ 1,284 million.
The AutoPartes commercial balance presented a deficit of US $ 9.3 billion during the year 2024, which was equivalent to a balance reduction of 5.0% compared to the same period of 2023. “It should be noted that this imbalance was one of the highest of the last 20 years, after the 2023 deficit,” said the Association of Argentine Component Factories (AFAC).
The exports, meanwhile, fell 1.2%closing the period analyzed at US $ 1,284 million. Autopartes imports were reduced by 4.5%, reaching US $ 10,584 million in 2024. When analyzing the production of vehicles, it was observed that during the January-December period, 2024, 540,126 units were manufactured, 15.1% less compared to 2023. This value was accompanied by the fall recorded in auto parts imports.
“The automotive industry in Argentina generates a currency saving for US $ 12,302 million a year. In 2024 the sector as a whole presented a consolidated commercial deficit of US $ 4,681 million. This balance was composed of a commercial auto -part deficit of US $ 9.3 billion in 2024, and a commercial surplus of vehicles of US $ S4.619 million that partially compensated Autopartes negative. AFAC In your report.
“The drop in exports and the still high level of imports are the result of the serious competitiveness problems they face. There is an urgent need to converge to simpler tax schemes with less weight on production, a modernization in labor schemes and an improvement in the competitiveness ‘doors outside’ of the companies,” added the entity.
AFAC also suggested to begin the discussions “tending to ensure that the agreement with Brazil conveys the stipulated times for the automotive value chain in the agreement with the European Union.”
Argentina’s main business partners in the sector were Brazilwith a commercial deficit of US $ 2,469 million, the block of the European Unionwith a negative balance of US $ 1,721 million, Japan with US $ 1,260 million of deficit balance. They follow him Thailand and China.
The main items marketed were “transmissions” (deficit of US $ 1,917 million), “motor components” (US $ 1,411 million deficit) and “electric” (US $ 1,412 million deficit).
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.
