Argentina exports increase 37% in November

RIO DE JANEIRO, BRAZIL – In November, Argentine exports amounted to US$6.164 billion, 37% more than in the same month of last year, while imports amounted to US$5.767 billion, with a growth of 40%.

Thus, the trade balance recorded a surplus of US$14.352 billion during the first eleven months of the year, according to the National Institute of Statistics and Censuses (Indec).

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Between January and November, exports totaled US$71.320 billion and imports US$56.968 billion, which determined that the commercial exchange (exports plus imports) increased 42.9% year-on-year with a total value of US$128.288 billion.

The agency also included the cost of freight in its analysis, which showed a substantial increase since the end of 2020. Thus, between November of this year in relation to the same month of 2020, the dollar value per ton “increased 49.4%, going from a unit value of US$74.9 per ton to US$111.9.

Meanwhile, when comparing with November 2019, “the cost of international freight increased 50.4% since in that month the price was US$74.4 per ton”.

In particular, the main destinations of Argentine exports were Brazil, India, Chile, United States, China, Vietnam, Netherlands, Peru, Algeria, and Indonesia, in that order, which together with accumulated 57.7% of total foreign sales.

The ten major countries of origin of imports were China, Brazil, the United States, Germany, Paraguay, Mexico, Spain, Thailand, the Netherlands, and India, which accounted for 67.1% of total foreign purchases.

The most substantial surpluses in November corresponded to trade with Chile, US$350 million; India US$345 million; Algeria US$153 million; Peru US$141 million; Indonesia US$120 million; Brazil US$99 million; Republic of Korea US$82 million; Vietnam US$70 million; Malaysia US$68 million and Uruguay US$62 million.