A consultant’s report ABC pointed out that Argentine exports were impacted by the decrease in sales of Electric Power and Unmilled Wheat and Rye, which fell by around 20% year-on-year in both cases
On the other hand, motor vehicles for the transport of merchandise and special uses barely showed a growth of 2.2%, while Vehicles for Passengers and Ethylene polymers in primary forms, showed significant increases of +49.2% yoy and 102.4%, respectively.
On the import side, Abeceb highlighted that purchases of parts and accessories for motor vehicles rose 25.5%, while iron and steel products and derivatives rose 21%. “Imports of Paper and Cardboard continued to show a significant increase of the order of 67%, the same as imports of polymers (+89.9%)”, the entity said.
In 2021, the balance had resulted in a surplus of US$66 million, with exports close to US$12 billion, the highest since 2014.
Looking ahead to 2022, the consultant estimates a deficit close to US$1 billions due to the low expected growth of the Brazilian economy, a lower trade flow due to an international context marked by rate hikes in the US and supply bottlenecks, and uncertainty both in Brazil (in an election year) and in Argentina (mainly due to the debt with the IMF).
Source: Ambito
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