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Exports were record during the first half of the year

Exports were record during the first half of the year

The other milestone was marked by the quantities exported, whose growth during the second quarter of the year represents the highest record in that period since 2013, the Government reported.

agriculture

Export prices are at maximum levels. In the first six months of this year, exports were driven by shipments of agricultural commodities, mainly soybean complex and corn, and, to a lesser extent, by shipments of wheat, beef and sunflower.

Export quantities of wheat and corn reached unprecedented volumes, while the volume of soybean meal ranked as the second highest only behind that of January-June 2021.

There is also a positive dynamics in exports of pharmaceutical productswith a year-on-year growth of 27% year-on-year and more than 50% compared to 2019. The first six months of 2022 exports of pharmaceutical products mark the highest level of exports in the last 12 years.

INDUSTRIES

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Industry

Exports grew at a faster rate than production, which continued to operate at levels higher than pre-pandemic levels. As a result, the export/production ratio reached 57% in the first half of this year, more than 7 points above the 2018 level.

Meanwhile, the export quantities of industrial manufactures showed a good performance (6.6%), as well as fuels and energy (19.5%).

provinces

On the other hand, it stands out that almost all provinces increased their exports and all regions of the country increased their shipments abroad in the first half of the year.

External sales of manufactures of industrial origin (MOI) reached US$11,088 million, the highest value since 2013, with an increase in exported quantities of more than 6% compared to the first half of 2021.

imports

Imports of goods totaled US$ 41,284 million during January-June, which also constitutes the highest historical value for the first semester.

They were driven by the strong increase in the prices of fuels and fertilizers and by the quantities of capital goods and their parts, reflecting both the effects of the international context and the internal dynamics of an expansion of production and investment.

Imports of fuels and lubricants together with those of intermediate goods (among them fertilizers) accumulate a year-on-year growth of 190% and 32%, respectively; with prices that in recent months more than doubled the levels of the previous year.

Together they accounted for almost two thirds of the total increase in imports in the first half of the year. As a result, the accumulated trade surplus for the first semester was US$ 3,093 million.

Source: Ambito

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