In February, exports increased 5.6% compared to the same month of the previous year.
Trade balance recorded third consecutive surplus: it showed a balance of US$1,438 million
Photo: Argentine News
In February, commercial exchange Argentina was US$9,624 million, which represents an annual drop of 6.3%, however the commercial balance was US$1,438 million, and thus marked its third consecutive month with surplusreported this Tuesday, March 19, the National Institute of Statistics and Censuses of the Argentine Republic (INDEC).
Last month, furthermore, the exports They increased 5.6% compared to the same month of the previous year. In seasonally adjusted terms, an increase of 2.5% was observed, while the trend-cycle had an increase of 2.8% compared to January. Prices decreased 6.8% and quantities increased 13.5%.
The imports in February they decreased by 18.6% compared to February of the previous year. In seasonally adjusted terms, they recorded a decrease of 3.6%, while the trend-cycle decreased 3.9% compared to January. Prices and quantities decreased by 6.4% and 13.2% respectively.
Regarding the balance, in February there was a surplus of US$1,438 million, and the third month was recorded in positive territory.
“This result occurs in a context of Price reduction both in the exports as in the importsaccompanied by an increase in the volume of exported products and a decrease in the quantity of imported products,” reported INDEC.
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In February, the exports net (exports minus imports) of the main products and by-products derived from the cultivation of the soy (soybeans, excluded for sowing; crude soybean oil; flour and pellets from soybean oil extraction; and biodiesel and its mixtures, among others) recorded a surplus of US$740 million, US$32 million dollars higher than the same period of the previous year. Exports increased by US$82 million and imports by US$51 million.
In the sector automotive (vehicles for transporting people; vehicles for transporting goods; and chassis, parts and tires), the exports net had a negative balance of US$250 million. In February 2023 they had recorded a deficit of US$268 million. Sales abroad decreased by US$15 million and purchases by US$33 million, both compared to the same month of the previous year.
Source: Ambito
