The exports they totaled 7,773 million dollars, with a year-on-year advance of only 7.2%, explained by increases in prices (13.4%) and decreases in the quantities sold to the world (-5.6%).
On the other hand, imports totaled 8,210 million dollars, which represented an increase of 43.7%, driven by an advance in prices of 27.8%, and an increase in imported quantities of 12.4%.
Within imports, the growth of Fuels and Lubricants stood out: +217.7% year-on-year.
Indeed, the trade balance was in deficit, compared to a surplus of US$1,536 million. A gap of US$1,973 million.
In the first seven months of 2022, the trade balance was US$2.54 billion, well below the US$8.31 billion registered in the same period in 2021.
“If the prices had been the same as in the same period in 2021, the trade balance would have been US$2.41 billion. That is, the improvement in prices had a net effect of US$130 million”estimated the economist Nadin Argañaraz.
Source: Ambito
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