Exports from regional economies reached US$8,777 million, the highest amount since 2023

According to a private report, the month of October reflected a strong increase in exports of regional economies of 29.3% in dollars and 23.4% in tons,which represents an interannual increase of US1,990.3 million in the total exported and 1.3 million tons in the volume sold. With this increase, regional exports reached US$8,777 million exported in the period November 2023-October 2024. having imported US$914 million, which gives a trade surplus of US$7,863 million.

The report belongs to the Monitor of Exports of Regional Economies (MEER) prepared by the Argentine Confederation of Medium Enterprises (CAME).

“The sector thus demonstrates great recovery power, after having suffered three consecutive droughts and early frosts that affected production levels. In addition, during the analyzed period there was high volatility in international prices, as well as the opening of new markets. to place the various products and by-products of the regional economies,” CAME reported.

Which were the complexes with the greatest growth in dollars?

• Sugar complex: During the period November 2023-October 2024, the sugar complex registered a growth of 629.8%, reaching US$322.6 million exported. The main export destinations of this complex were the United States (US$191.1 million), Chile (US$90.6 million) and Canada (US$21.9 million); That is, these 3 countries concentrated 94.1% of the complex’s operations.
• Cotton complex: The second complex with the greatest growth was cotton, reaching US$198.4 million and an increase of 159.2%. The main destinations of this complex were Pakistan (US$75.3 million), Vietnam (US$51.3 million) and China (US$24.1 million), concentrating 75.9% of the operations.
• Sugar complex: The complex with the greatest growth in volume is the sugar industry, having reached 456,115 tons exported and representing 411.4% more than in the previous period compared (November 2022 – October 2023). The price/ton ratio increased 42.7%, establishing an average price of US$707.2. Unlike what happened in the 2022-2023 period, the increase in both dollars and tons is due to the good weather year, which translated into greater supply, with the surpluses having to be exported.
• Cotton complex: The second complex with the greatest growth in volume is cotton, which exported a total of 162,582 tons during the period November 2023 to October 2024, which represents an increase of 151.5% compared to the same period of the previous year (2022- 2023). The average price per ton of this complex was USD 1,220.3, presenting an increase in the export price of 3.1%.

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Regional analysis

Buenos Aires + CABA is the main exporting region of the country, representing 50.8% of the total exported in dollars by the regional economies. In the period analyzed, Buenos Aires and CABA had export revenues of US$4,459.3 million, which represents a year-on-year increase of 32.9% in exported dollars. The most representative complex in its exports was pig and goathaving sold US$433.4 million, that is, 9.7% of the total exported by the region.

Center: The region comprised of the provinces of Córdoba, Entre Ríos and Santa Fe exported US$1,701.8 million, 19.4% of the country’s foreign sales. Córdoba, with US$804.8 million, was the province that exported the most. Compared to the same period last year, the region’s international trade marked an increase of 33.1%.

Analysis by destination

Europe is the main destination of exported products, having been the destination of 32.6% of regional sales abroad, the European continent is located, to which a total of US$2,858.8 million was exported. Compared to the previous period, this number represents an increase of 24.9% in exported dollars.

The main trading partner on this continent was the Netherlands, with a total export of US$619.9 million. Regional exports to Europe were dominated by sales of the peanut complex, which, having sold for US$1,068.3 million, represented 37.4% of sales to the continent.