Argentina’s industrial exports grew in January

During January, Argentina’s manufactured exports, both of industrial origin as of agricultural origin, they increased 5.8% as a whole in the interannual comparison, according to data consigned by the National Institute of Statistics and Censuses (INDEC).

The growth of the exported value of Manufactures of Industrial Origin (MOI) stands out, due to a 12.5% ​​rise in the quantities exported, given that prices remained practically unchanged. This was mainly explained by higher sales of motor vehicles for freight transport and lithium carbonate.

Exports of Manufactures of Agricultural Origin (MOA) increased 1.0% year-on-year, as a result of a slight increase in prices (1%) that offset the reduction in quantities (0.6%). At the product level, the increases in soybean oil (7.9%) and soybean meal and pellets (0.4%) stood out, which positioned themselves as the main product exported in January with shipments of US$ 583 million.

Taking general exports, in January US$4.9 billion were exported and US$5.384 billion were imported. The trade balance was in deficit by US$ 484 million.

The effects of the drought had repercussions on external sales of primary products, pushing down the total exported in January. The year-on-year decrease in exports was 11.7% (-US$648 million), mainly explained by a drop in cereal exports, particularly wheat (−US$688 million) and corn (−US$167 million). .

The growth of the exported value of Manufactures of Industrial Origin (MOI) stands out, due to a rise of 12.5% ​​in the quantities exported

The main export markets were Brazil (15.0%), the United States (10.5%), China (8.6%), Chile (5.1%) and Peru (4.0%). The European Union was the destination of 12.4% of exports in January 2023.

Does the regulation of the crypto ecosystem arrive in Argentina?

Regarding imports, during January they grew 2.5%, driven by higher prices (3.2%). At the product level, the largest purchases of diesel stand out (grown by US$ 159 million); fuel oil (US$84 million); electric power (US$76 million); and printed circuits with electrical or electronic components for telephones (US$69 million). There were decreases in imports of automatic machines for treatment or data processing (−US$ 51 million); semi-manufactured iron, non-alloy steel (−US$44 million); and vaccines for human medicine (−US$40 million).

The main countries of origin of imports in the first month of the year were Brazil (22.2%), China (21.3%), the United States (11.8%), Germany (4.3%) and Italy ( 2.7%). The European Union was the origin of 15.9% of imports in January 2023.