Argentina lowers Port of Buenos Aires tariffsOct, 16, 2019 Posted by Sylvia Schandert
The General Administration of the Ports of Argentina (AGP) has announced a 15% reduction in Port of Buenos Aires tariffs until the end of the year, to cope with the rise of the dollar and the devaluation of the peso.
Thus, the values for occupancy of real estate or locations will be settled with a remuneration of 15% over the dollar price registered by the National Bank, according to Clarín.
This is because most services related to port activity and foreign trade are quoted in dollars.
Between May 2018 and August 2019, the increase in dollar in relation to the peso was over 122%, while the Consumer Price Index increased by 71.6%. The Wholesale Price Index increased by 71.4% between May 2018 and last July.
The AGP states that these variations significantly affect the services provided, so this measure was implemented to alleviate any economic and social impacts.
The government also approved a US$760m investment last May to modernize the Port of Buenos Aires and double its cargo capacity. In total, the investment in the project is estimated at US$1.37bn and will take 50 years to complete.
The following graphs, made from Datamar’s DataLiner data, show exports and imports by the Port of Buenos Aires by terminal:
Graph source: DataLiner/Datamar
Source: Portal Portuário
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