The rise in exports and the movement of the domestic market were the factors that made this improvement possible when comparing 2021 against 2022. “Industrial activity is at a turning point after the strong recovery during 2021,” highlighted the report of the UIA.
They also stressed that with the effects of the war between Russia and Ukraine, on various economic variables, there was an acceleration of prices and inflation, “which generated tensions in the supply chains.”
There were also increases in the Chemical Substances and Products industry (+6.2%)with improvements in most items within the sector, with a 10% increase in sales of pharmaceutical products to the domestic market, as reported by the Industrial Chamber of Argentine Pharmaceutical Laboratories (Cilfa).
Food and drinks registered a rise of 3%, with increases in items related to social consumption such as chocolates and also spirits, non-alcoholic beverages, wines and coffee, but with decreases in others such as the grinding of oilseeds, as well as tea, rice and Fishing.
A similar situation in the production of Basic Metals, which registered a rise of 2.5%, although uneven within the sector, with an improvement in aluminum and a drop in steel.
Some sectors registered year-on-year falls, as is the case of Oil Refining (-1.6%) and Electronics (-18.5%). “The outlook for the rest of the year continues to show some elements of uncertainty, both in terms of costs and inflation, financing and difficulties around currencies”, in addition to the international situation, whose outlook “has deteriorated over the course of of the months,” said the UIA.
Source: Ambito
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