Argentina May trade balance surplus over USD 356 million

According to the National Institute of Statistics and Census (Indec), the trade balance in Argentina registered a new surplus in May, closing at US$ 356 million.

Exports totaled US$ 8.2 billion in the month, while imports amounted to US$ 7.8 billion, a new high for Argentina. Even from 2011 to 2013, when exchange rate peaks were recorded, imports did not reach the May 2022 level.

Only 9.2 percent of imports are consumer goods, while the remaining 70 percent are inputs, capital goods, components, and parts for manufacturing.

The remaining 20% of the trade balance in Argentina corresponds to fuels and lubricants, whose imports to Argentina in May doubled in value compared to April, totaling US$ 1.601 billion, 20.3% of the country’s total imports.

Also outstanding in the Argentine trade balance was the consolidation of exports of primary and agro-industrial goods, which together account for two-thirds of total exports.

Source:Valor Econômico

To read the full original article, please go to: https://valor.globo.com/mundo/noticia/2022/06/22/balanca-comercial-argentina-tem-superavit-de-us-356-mi-em-maio-com-recorde-de-importacoes.ghtml

Sharing is caring!