The trade surplus increased by 17% in 2021 and reached USD 14.75 billion

General view of dozens of containers in the Commercial Port of the city of Buenos Aires (Argentina), in a file photograph (EFE/Demian Alday Estévez)

Argentina’s trade balance registered a positive balance of USD 14,750 million in 2021, 17% higher than that registered in 2020, as reported this Thursday by the National Institute of Statistics and Censuses (Indec).

According to the Argentine Commercial Exchange (ICA) report, last year exports reached USD 77,934 million, 42% more than in 2020. Meanwhile, imports registered an increase of 49%, reaching 63,184 million dollars.

In December 2021, exports reached USD 6,587 million and imports, USD 6,216 million. In this sense, the commercial exchange (exports plus imports) increased 71.8%, in relation to the same month of the previous year, and reached an amount of 12,803 million dollars.

Thus, the trade balance recorded a surplus of 371 million dollars in December.

Source: Indec
Source: Indec

Exports increased 85.9% compared to the same month of 2020 (3,043 million dollars), due to an increase in prices of 26.9% and in quantities of 46.6%.

Argentina’s trade balance registered a positive balance of USD 14,750 million in 2021, 17% higher than that registered in 2020, according to Indec

In seasonally adjusted terms, exports rose 7.5%, while the trend-cycle decreased 1% compared to November 2021.

Source: Indec
Source: Indec

As indicated by the Indec, all items increased: primary products (PP), 139.1%; manufactures of agricultural origin (MOA), 113.1%; manufactures of industrial origin (MOI), 47.5%; and fuels and energy (C&E), 37.8 percent.

While imports increased 59.1% compared to the same month of the previous year (2,308 million dollars), as a result of a 31.5% rise in quantities and a 20.9% rise in prices.

In seasonally adjusted terms, imports increased 13.4% and the trend-cycle, 1.9%, compared to November 2021.

Source: Indec
Source: Indec

“All economic uses registered positive variations, except passenger motor vehicles (VA), which fell 27.8%. Capital goods (BK) increased 45.5%; intermediate goods (BI), 60.9%; fuels and lubricants (CyL), 391.7%; parts and accessories for capital goods (PyA), 43.2%; consumer goods (BC), 40.0%; and the rest, 37.1%, mainly due to the increase in goods dispatched through postal services (couriers)”, detailed the official statistics body.

“The balance of the trade balance was 371 million dollars, 735 million dollars higher than the same month of the previous year, period in which a deficit of 364 million dollars had been registered”reported the Indec.

The exports of December 2021 compared to the same month of the previous year whose values ​​determined the main differences were: meal and pellets from soybean oil extraction, with an increase of USD 544 million; wheat and meslin, excluding durum and seed wheat (USD 455 million); grain corn (USD 414 million); crude soybean oil, including degummed ($363 million); crude petroleum oils (USD 229 million); and gold for non-monetary use, crude forms of gold alloy or gold bullion (USD 104 million). On the other hand, exports of electricity and fuel oil fell, among other losses.

Regarding imported products, in this period there were increases in diesel purchases (USD 270 million); gasoline, excluding aviation (USD 95 million); vaccines for human medicine packaged for retail sale (USD 86 million); liquefied natural gas (USD 77 million); automatic machine units for data treatment or processing (USD 66 million); among other uploads.

In December, the main destinations of Argentine exports were: Brazil, the United States, India, Chile, China, Viet Nam, Peru, Indonesia, the Netherlands and Spain, in that order, which together accounted for 60.3% of total foreign sales.

Meanwhile, the ten main countries of origin of imports were: China, Brazil, the United States, Germany, Thailand, Spain, Paraguay, Mexico, India and the United Arab Emirates, which represented 69.6% of total purchases abroad.

According to INDEC, the largest surpluses in December corresponded to trade with India (USD 386 million), Chile (USD 354 million), Vietnam (USD 206 million), Peru (USD 190 million), Algeria (USD 116 million), Indonesia ($97 million), the Netherlands ($89 million), Uruguay ($80 million), Colombia ($72 million), and Morocco ($70 million).

While the most important deficits were registered with China (USD -1,160 million), Germany (USD -131 million), Thailand (USD -128 million), Brazil (USD -118 million), United Arab Emirates (USD -97 million) , Mexico (USD -82 million), Japan (USD -73 million), France (USD -56 million), Bolivia (USD -44 million) and Paraguay (USD -36 million).


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