The value of exports was at its highest value in the last eight years, also exceeding the amount of US $ 60,000 million for the first time in the same period. According to UNDAV, capital goods “computed an advance in interannual terms of 24.9% due to a rise of 17.6% in quantities and prices of 6.0%.”
Exports were driven by Brazil, China and The United States, the country’s largest trading partners. “Exports to the largest economy in South America increased by 52.3% in year-on-year terms and reached US $ 9.5 billion. On the other hand, external sales to China registered an increase of 18.0% and totaled US $ 5,621 million. Finally, exports to the United States expanded by 42.8% and reached US $ 4,012 million ”, they detailed.
On the other hand, the main export items registered consistent expansions. On the one hand Manufactures of agricultural origin (MOA) increased 16.5% while industrial ones grew 56.8%. In turn, primary products (PP) increased their sales abroad by 73.7% and Fuels and energy (CyE) increased 153.2%.
UNDAV Trade Surplus January October2.jpg
In the breakdown of MOIs, the advance is explained by the growth of 27.5% in quantities and 21.8% in prices. Regarding MOA, the ratio was 21% due to prices while quantities fell 4.3%. Regarding PP, the rise is due to the growth of 39.2% in prices and 24.3% in quantities. Finally, the rise in C&E is explained by the 102.6% expansion in prices and 25.0% in quantities.
For its part, Imports increased by 31.0% in October compared to the same month last year and reached US $ 5,247 million. This rise is explained “mainly by an increase in quantities of 11.1% and in prices of 17.9%. The greater economic activity and the low level registered in October 2020 due to the measures adopted by the national government in order to lower the speed of coronavirus infections are the cause of the 31.0% increase ”.
From UNDAV they explained that if imports are analyzed at a seasonally adjusted level, these “contracted by 5.5% compared to the previous month” while “the cycle trend fell by 0.8% compared to September 2021” .
UNDAV Trade Surplus January October3.jpg
In this way, in the tenth month the trade balance culminated with a surplus of US $ 1,601 million: exports closed at US $ 6,848 million and imports US $ 5,247 million.
Trade, which reflects the total balance of exports plus imports, showed an increase of 39.4% year-on-year, reaching US $ 12,095 million.
The surplus registered during the ten months of the year closed at US $ 13,940 million compared to the same period in 2020. Finally, in said period, the total exchange managed to reach US $ 116,342 million and registered an expansive jump 43.3%.
Source From: Ambito
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