2023 is “a year to forget” also for foreign trade. THE the drought reduced the volume of exports and the lack of foreign currency affected imports. Lower international export prices, which fell more than the drop in import prices, also had consequences. The result was a larger trade deficit.
The INDEC numbers show that, Between January and December the trade balance recorded a deficit of 6,926 million dollars. “If 2022 prices had prevailed, the deficit would have been $4,299 million. Based on this assumption, and since the import price index (-5.8%) recorded a smaller decline than the export price index (-9.7%), the country recorded a trade loss of US$3,052 million,” according to the Report.
Between January and December, Exports amounted to 67,686 million dollars, a decrease of 24.5%. THE imports they came US$ 73,714 million, a decrease of 9.6%.
The Report explains that, in the twelve months of 2023, net exports of the main products derived from the cultivation of soy and its by-products reached the value of 7,882 million dollars. US$, 13,903 million less (-63.8%) compared to those recorded in the same period of the previous year. Exports amounted to 13,518 million dollars, with a decrease on an interannual basis of 44.0% (-10,605 million dollars), following a decrease in quantities and prices, respectively of 36.3% and 12 ,2%.
As regards prices, the prices of crude soybean oil, including degummed ones, decreased (-28.3%); biodiesel and its mixtures (-19.9%); soybeans, even crushed, excluded for sowing (-8.5%); and refined soybean oil (-18.3%). On the contrary, the prices of flour and pellets resulting from the extraction of soybean oil increased (2.0%).
Trade with China recorded a negative balance of 9,224 million dollars “and was the largest”. Exports reached 5,272 million dollars, a decrease of 34.2% (-2,743 million dollars) compared to 2022. Imports amounted to 14,497 million dollars and decreased by 3,019 million dollars (-17 ,2%). Trade with China represented 7.9% of Argentine exports and 19.7% of total imports.
With Mercosur the stock exchange recorded a deficit of 6,763 million dollars. “It was the second most important after China. Exports amount to 15,091 million dollars; They decreased by $670 million compared to 2022. Imports were $21,854 million, an increase of $2,590 million (13.4%).
The Report highlights that Brazil’s participation stood out within the bloc, with 11,874 million dollars, which absorbs 78.7% of exports to the region (17.8% of the total exported) and provides 79.4 % of imports from Mercosur (23.5% of total imports).
The automotive sector recorded a deficit of 3,370 million dollars, following the deficit recorded in auto parts (-8,588 million dollars), partially offset by the surplus presented by the groups of vehicles for the transport of goods (4,280 million dollars) and of vehicles for transport, transport of people (938 million dollars)
SN
Source: Clarin
