An INDEC report reflected that last year the country’s exchange terms worsened. Without this worsening, the commercial surplus would have been even higher.
In 2024 the price of Argentine exports fell more than imports. Although the country had a record commercial surplus in nominal terms, the balance had been US $ 1,550 million if the prices of 2023 had been maintained.
According to an INDEC report published Tuesday, Foreign sales prices suffered an annual contraction of 5.8%, while in the case of purchases the decline was 4%. “In 2024, the balance of the trade balance was overravery at US $18,899 million. However, if the prices of the same period of the previous year had prevailed, the surplus would have been US $21,246 million,” they explained from the Official Institute of Public Statistics.
In the 2004-2024 period, the index of the terms of the exchange (which measures the pricing and imports ratio only in 2005 was below the 2004 base year, and In 2012 it reached the maximum of the annual series.
The 2024 data was not only lower than that of 2023, but also than 2022 and 2021. However, it was higher than the 2014-2019 period.
The effect of the terms of the exchange is a hypothetical calculation that quantifies the profits or losses in the commercial exchange that would take place if, in a given period, the prices of exports and imports of a year chosen as a reference prevail.
In the fourth quarter of 2024 they improved the terms of exchange
Although in 2024 the prices of exports and imports showed a descending trend throughout the year, in the fourth quarter the terms of exchange improved 0.9% in interannual terms, thanks to the fact that the price of imports fell 3, 6%, more than the verified decrease for exports (-2.7%).
Throughout 2024, the export price index reflected the variability of its main components: primary products (PP), manufactures of agricultural origin (MOA) and fuels and energy (CYE) recorded descents in at least three quarters of the year. In contrast, from the second quarter, manufactures of industrial origin (MOI) showed positive variations, partially moderating the general fall of the index.
Source: Ambito
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