Argentine imports sank 18.2% to reach US $ 5,077 million in October, according to the National Institute of Statistics and Censuses (INDEC), while exports grew 1.4% to US $ 5.354 billion. . As a result, Argentina recorded a positive trade balance of US $ 277 million in the tenth month of the year.
Based on the Radar consultancy, he pointed out that "as has historically occurred during the episodes of devaluation in Argentina, the adjustment of external accounts is related, at least in the short term, to the fall in imports as a result of the lower economic activity caused by the acceleration of inflation , exports, for different reasons, are slow to react to the new exchange rate. "
The most important surpluses in October corresponded to trade with Chile, which was US $ 221 million; Vietnam US $ 177 million, Algeria US $ 92 million, Bangladesh US $ 87 million, Peru US $ 86 million and Indonesia US $ 84 million, among others.
The most important deficits in October were recorded in China, US $ 321 million, the United States, US $ 321 million; and Brazil, $ 110 million, Indec said.
In that month, exports of primary products totaled US $ 1,114 million, a decrease of 3.2%, due to a 5.8% decrease in quantities sold, which could not be offset by a 2.8% increase. in prices.
Meanwhile, sales of agricultural manufactures (MOA) increased by 4.4% over the previous year to US $ 2,027 million, with a 3.5% increase in quantities and prices 0.9% higher than in October of the year. past
Manufacturing of Industrial Origin (MOI) totaled US $ 1,824 million, 3.4% less than in the same month of 2017, with prices 6.9% lower, although the quantities increased by 3.6%.
Meanwhile, Fuel and Energy sold US $ 389 million, with a 25.8% increase in prices and a 4% increase in values.
Meanwhile, amid the high dollar and the industrial slowdown in September, imports showed a fall in the value of all items, with 12.9% in Capital Goods, 38% in Parts and Accessories of Capital Goods , 46.9% in Vehicles, 12.8% in Consumer Goods.
"This is a sign that investment is the component of aggregate demand that has a larger decline, which undermines the economy's ability to grow in the long term," Radar said.
In addition, they indicated that the outlook "is an improvement in the external result as a result of the economic recession that the economy is going through and the consequent decrease in imports." The year would be closed with a deficit of nearly $ 4 billion. the surplus could exceed US $ 3,000 million, as a consequence of the persistence of the fall of imports and the strong increase of agricultural exports, since it will be compared with the year of the drought. "
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