September 24, 2020

Argentine exports lost 6% of their value during 2019



The value of Argentine exports decreased 6% during the year 2019 and reached 65,115 million dollars, due to the fact that exported quantities increased 12.7%, according to data published Thursday by the National Institute of Statistics and Census ( Indec).

On the other hand, the volume of exports grew 5.4% compared to 2018, due to the sale of more products at a lower price.

Argentina closed the year with a trade surplus of 15,990 million dollars, since the rise in exports was added to the collapse of imports, whose volume fell 25% to 49,152 million dollars.

The economic crisis experienced by the country, exchange restrictions and the devaluation of the peso make it difficult to buy goods abroad while making the purchase of Argentine products more attractive.

THE FIELD SHOOTS ITS EXPORTS

Primary products (33.2%), manufactures of agricultural origin (14.3%) and fuels and energy (12.7%) were the fastest growing exports, while industrial manufactures fell 4, 5 %.

Regarding specific products, the great year of oilseeds and fruits stands out, whose sales abroad shot up 164.9%, followed by meats and their preparations (28.4%) and oils (27.4%) .

If we look at prices, the meat was the great beneficiary and exported with a price increase of 13.3%, motivated by the needs of China after a swine flu plague that made it urgently go to the market.

On the other hand, the seeds and oleaginous fruits suffered a decrease of 14% in their price, compared to a 7.4% drop in fats and oils and 2.9% in cereals.

MOTOR IMPORTS SLIDE

Import prices fell 5.4%, although Indec points out that they fell less than the prices of Argentine exports and the index of terms of trade, which measures the relationship between the two values, fell 0.7%.

The sector that experienced a major drop in imports was the automotive sector: less than half of the passenger vehicles that arrived in the country in 2018 (-56%) were imported, while 31.9% were imported in fuels and lubricants less.

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