These are factors that explain the strong rebound in activity after the serious global crisis caused by Covid-19 in 2020 and which, according to projections by National Government officials, will lead to an increase in GDP of “9% o more “by 2021.
Regarding employment, the number of people with registered work reached 12,158 million in August, an increase of 0.5% in seasonally adjusted terms compared to the previous month (54,600 more people) and 2.8% compared to a year back (+326,900 workers).
At a year-on-year level, the expansion was 2.2% (+211,600 workers) in salaried persons and 4.9% (+115,300 workers) in the case of independent workers, which was mainly explained by the growth of 5.4 % of people registered in the monotax (+87,100 people) and 42.4% of those registered in the monotax social (+11,600 people).
In fact, in relation to February 2020 -the latest data prior to the pandemic- half of the provinces recovered their previous levels of employment and those with the greatest dynamism were Tierra del Fuego (6.3%), Misiones (3.3% ), Formosa (2.5%) and San Luis (2.2%).
Meanwhile, salaries begin to recover purchasing power after three consecutive years of decline after the average gross nominal remuneration reached $ 96,213 (+ 55.4% year-on-year) and the median gross remuneration was $ 75,231 (+55, 6% year-on-year)
According to Indec data, salaries grew above inflation in the first eight months of the year: the total Salary Index grew 3.2% per month last August, above the inflation registered in the month (2.5 % monthly).
“Now we encourage productive investment, and not financial speculation,” reaffirmed President Alberto Fernández during his visit to various industrial enterprises in the Buenos Aires suburbs in recent days.
In fact, gross domestic investment in September was 20.4% above the same month in 2020, 16.3% above 2019 and 8.4% higher than 2018 investments, while accumulating growth of 26.2% compared to 2020 in the first nine months of the year, according to data from the Orlando Ferreres Center for Economic Studies.
For Ferreres, this increase reveals that, during 2021, “investment is showing a marked recovery, both when comparing with 2020 and with the two previous years, marked by the economic recession.”
In fact, this week the President accompanied the announcement of the largest investment of the century in Argentina during the COP26 Climate Change Summit in Glasgow: US $ 8,400 million for the construction of a plant in the Rio Negro town of Sierra Grande to produce green hydrogen -which will generate more than 50,000 direct and indirect jobs- for the Australian company Fortescue.
They will not, however, be the only investments in energy: YPF will invest US $ 3,500 million in 2022, 30% more than this year (US $ 2,700 million) for the exploration and exploitation of new projects, at the same time that it announced The commitment with Shell to also invest US $ 300 million in Vaca Muerta for a processing plant of 15,000 barrels per day of oil and 2 million cubic meters of gas per day and will advance the drilling of 16 new wells in the area.
Regarding exports, in the first nine months of the year they already exceeded US $ 58,000 million, the highest value since 2013, while commercial exchange (exports plus imports) increased 51.8% in September in relation to the same month of the year. previous year, and reached an amount of US $ 13,439 million.
The trade balance registered a surplus of 1,667 million dollars. Exports increased 59.8% compared to the same month of 2020 (2,826 million
dollars), due to an increase in prices of 29.7% and in quantities of 23.3%.
Bilateral trade with Brazil -which was once again Argentina’s main trading partner- reached US $ 19,229 million in the first 10 months of the year after exports amounted to US $ 1,218 million (+ 50.5% year-on-year) and the highest monthly amount since September 2014.
Also in October, the agro-export complex sold a world record of US $ 2.4 billion, while the accumulated figure for the first 10 months of the year exceeded US $ 28.00 billion, an absolute record for the period since the beginning of this century, according to data from the CIARA and CEC export chambers.
Finally, meat exports grew 24.7% year-on-year in September and reached a value of US $ 310.4 million, a figure that represented an increase of 24.7% compared to the US $ 249 million in September 2020.
Source From: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
