Despite the satisfaction in the Government and the Central for the strong inflow of dollars, a closely followed issue is that the rise in imports in quantities it exceeds the level of activity, due to the decision of the companies to accumulate stocks in the face of devaluation expectations. Shortly there could be measures or news on this aspect.
The volume of exports grew 19.7% year-on-year in the third quarter and reached the highest level in the last 10 years. In the first nine months of the year, exports totaled US $ 58,276 million, according to INDEC.
Dollar measurements, exports grew almost 40% in the first nine months of the year. But 70% of what is exported are goods of agricultural originTherefore, a greater presence of manufacturing and the knowledge industry is lacking. At this point, progress will be made in the coming months, mainly with the enactment of the new Hydrocarbons Law.
The truth is that the rise in international prices of farm products triggered the value of Argentine exports, according to a report by the consulting firm DNI. However, analysts doubt whether the high prices of soybeans and other key products will be repeated in 2022. In recent weeks there has been a drop in some international prices that raise a question mark. Even so, soybeans are up 22% year-on-year in October. Everybody they argue that these prices had not been seen since 2012.
In volumes, there were year-on-year increases in the third quarter in the manufactures of industrial originl (31,9%), primary products (27,9%), fuels and energy (10.8%) and manufactures of agricultural origin (6.4%), driven by the recovery of China and Brazil, and the rise in international energy prices. In the manufacturing sector, Exports rebounded due to higher global demand after last year’s paralysis amid the pandemic.
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Analysts explain that the weakness of Argentine foreign trade is that it exported the same thing a decade ago and profits always depend on prices. To increase fish exports and increase the arrival of dollars, the Government decided last week to eliminate and reduce withholdings for the export of fishing products, a measure that will impact 64% of the sector’s tariff positions and will leave 33% of products with an aliquot of 3% or 1%. Specific, The modification of the tax scheme affects export duties for skinless hake in containers of less than 1 kilogram and coastal fish, the tax of which will be abolished.
Source From: Ambito
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