Due to the impact of energy imports, a trade deficit of US $ 437 million was recorded in July

In July 2022, exports reached 7,773 million dollarswith year-over-year growth of 7.2% and imports increased by 43.7%, driven by greater energy purchases to achieve 8.21 billion dollars. This resulted in external accounts ending up in the red for the second consecutive month, this time with a trade deficit of $ 437 million.

The increase in purchases from abroad is explained by the increase in prices, which increased by 13.4%, while the quantities exported decreased by 5.6%.

For its part, the jump in imports was the consequence of a 27.8% increase in prices and 12.4% in imported quantities.

Within imports, the growth of Fuels and Lubricants stands out, with an advance of 217.7% on an annual basis.

This increase in energy imports explains why the July balance was reversed, which in the same month of 2021 had closed with a surplus of US $ 1,536 million.

In the first seven months of 2022 the trade balance was 2,540 million dollars, against 8,310 million dollarss in the same period of 2021.

News in development