The problem for the BCRA’s objective of accumulating reserves is that exports grew at a slower pace, at 23% year-on-year. They entered foreign currency for US$8,023 million, which allowed the monetary entity to maintain a goods exchange surplus of US$1,852 million.
President Alberto Fernández acknowledged last week during a visit to the Nissan plant in Córdoba that there are problems meeting the demand for foreign currency.
“Be reassured that it is in our heads as a central concern that Argentine production does not stop due to the lack of dollars,” Fernández stressed. when leading an act together with Governor Juan Schiaretti. The head of state came out in response to businessmen in the sector who warned this week that they are at risk of stopping production due to a lack of imported auto parts.
In this framework, the head of state pointed out that “the great secret for growth to be sustained is to have the financing of adequate dollars so that the parts that are needed for the production of the car or of many auto parts manufacturers can be imported.”
Strictly speaking, About fifty auto parts companies had claimed that they could not bring parts and pieces to the country to love components in the country, and that it is assumed that they will not be able to supply their customers.
From the perspective of officials from the Economy and the BCRA, imports are at record levels.
In relation to February, the income of dollars from sales abroad grew 43.39%, while imports rose below, 31.6%, although
From the point of view of the operations declared before the Customs, which are those that reflect the form of the Argentine Commercial Exchange (ICA) of the National Institute of Statistics and Censuses (INDEC), in March, sales abroad totaled US$7,352 million, with a year-on-year increase of 28.5%, while purchases totaled US$7,073 million, with a rise of 33%. The surplus was only $279 million.
If BCRA data is compared with INDEC data, it can be inferred that en March, exporters rushed settlements of dollars for US$671 million, while importers anticipated purchases for US$902 million
The increase in the numbers of Argentine foreign trade is due to the improvement in activity, but which is combined with a global price increase. Although farm products are generating more foreign exchange, mainly due to the price effect, the cost of inputs and energy for productive activity is rising more.
Source: Ambito
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