The commercial exchange increased 34.6%, in relation to the same month of the previous year, and reached a record level of US$16,096 million.
“In a scenario of shortage of foreign exchange, the data of the balance of trade balance for May is relevant. In terms of exports, marked a stagnation compared to April. From US$8,337 million, it was reduced to US$8,226 million,” said Nadin Argañaraz.
On the side of the importsadded the economist “the situation marked strong growth. The exit from the most negative phase of the pandemic and Russia’s invasion of Ukraine led to a rise in prices, mainly of raw materials and energy.”
Exports had their main destination in Brazil (12.8%), the United States (7.4%), and Chile and India (6.2%). For its part, imports came from China (21.6%), Brazil (19.1%), and the United States (11.2%).
The balance of the trade balance was US$356 million, US$1,316 million dollars lower than in the same month of the previous year, a period in which a surplus of US$1,672 million had been recorded.
As for the exports, rose 20.7% compared to the same month in 2021, about US$1,413 million. This was “due to a 22% increase in prices, as quantities fell 1%,” Indec said.
In seasonally adjusted terms, exports fell 6.3% and the trend-cycle grew 0.7% compared to April 2022.
All items recorded increases: fuels and energy (+33.7%); manufactures of agricultural origin (+29.4%); manufactures of industrial origin (+17.6%) and primary products (+8.6%).
On Monday, the vice president Cristina Fernandez de Kirchner made a harsh analysis of the “ultrainflationary process” and urged Alberto Fernández to “use the pen” to stop the “festival of imports“.
In this context, The INDEC reported that imports increased 53.1% compared to the same month of the previous year, about US$2,729 million. It happened “as a result of a 23.5% rise in prices and 23.6% in quantities,” the entity specified.
In seasonally adjusted terms, imports grew 1.1% and the trend-cycle, 1.4% compared to April 2022.
All economic uses registered positive variations: fuels and lubricants (+226.7%); capital goods (+40.0%); parts and accessories for capital goods (+36.9%); intermediate goods (+36.0%); passenger motor vehicles (+24.8%); rest, 23.5%, mainly due to the increase in goods dispatched through postal services (couriers); and consumer goods (+23.3%).
Source: Ambito
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