The 2024 exchange balance closed with a positive balance of US $ 10,901 million, reflecting a strong contribution from the agricultural and agro -industrial sector, which represented 86% of the net currencies generated in the country.
According to a report by the Datamiazzo consultant, agricultural exports totaled US $30,487 million in the year, consolidating the field as the main engine of dollars.
David Miazzo, economist and director of the firm, stressed that the remaining 14%came from other sectors such as mining (9%), the computer industry (3%) and the energy (2%). In turn, most other activities operated with a net currency demand, which was especially evidenced in December, when the current account recorded a deficit of US $ 952 million.
The positive performance in the first part of the year was driven by the drop in imports, in a context of lower consumption and economic slowdown. To this was added the recovery of the agro -export sector, which left behind the impact of the drought of 2023, which had generated estimated losses at US $20,000 million.
Agricultural recovery Not only favored currency incomebut also contributed to the turn in the energy sector, which went from a deficit to a surplus. However, in the final stretch of the year, the external balance was affected by the appreciation of the exchange rate, which increased exports and chealed imports measured in pesos.
Field: What to expect for agriculture this year
Facing 2025, imports are expected to remain on the rise due to commercial liberalization and improvement in economic activity. Meanwhile, the contribution of agriculture could lose relative participation if the energy exports of Vaca Muerta continue expanding. However, the countryside for the field is uncertain, since international prices do not accompany and production remains stable.
The report also details that other sectors were great currency demanders. The automotive industry required US $ 3318 million, tourism and hotel US $ 1031 million, transport US $1418 million and trade in $ 3027 million. In addition, there was a demand for US $ 5031 million in other activities without specification YU $ S9748 million in the manufacturing industry.
Miazzo stressed that current account measurement considers not only the trade of goods, but also the flows of services, income and transfers. This explains why the energy surplus that arises from the commercial balance is greater than that reflected in the current account, since the first only counts exports and imports of goods.
Thus, 2024 closed with a positive balance in the current account thanks to the reactivation of agriculture and the adjustment in imports. However, the trend of the last quarter poses challenges for the sustainability of the surplus in next year.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
