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Argentine exports up by 24.4% year-on-year in january-may

Wednesday 23 June 2021
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Attached material: Argentine exports. Argentine exports increased by 24.4% year-on-year in the period January-May 2021, reaching over USD 28.31 billion, the highest value in the last eight years. The three largest partners combined (Brazil, China, and the United States) accounted for 27.7% of exports.

According to a report on export performance prepared by the Centre for International Economics (CEI in the Spanish acronym) of the Argentine Foreign Ministry headed by Felipe Solá, based on data provided by the Office of Statistics and Censuses (INDEC), exports totalled USD 6.76 billion in May, the highest value since June 2014.

In addition, according to the report, the USD 5.6 billion trade surplus of the first five months of 2021 was the result of the trade surplus with Chile (USD 872 million) and a number of Asian countries: India (USD 1.05 billion), Vietnam (USD 851 million), Indonesia (USD 747 million) and Iran (USD 710 million). The trade surplus with Egypt also stands out (USD 733 million).  The three largest partners combined (Brazil, China, and the United States) accounted for 27.7% of exports.

With regard to products, the increased sales of certain soy products stand out: flour and pellets (increased by USD 2.17 billion), oil (USD 1.49 billion) and biodiesel (USD 218 million).

Furthermore, the growth in export values of Processed Agricultural Products (PAP) was substantial, as a result of higher prices (26.7%) and quantities (17.2%). Processed Industrial Products (PIP) increased 24.9% in terms of quantities and their prices were up by 5.7%.

The report also notes that the increase in PAP exports is the result of higher sales to the Middle East, ASEAN, the European Union and India, while the increase in PIP sales is the result of exports to Mercosur, USMCA and the EU.

 

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