Argentine imports grew 18.2 percent to $ 5.077 million in October, according to the National Institute of Statistics and Census (INDEC), while exports rose 1.4 percent to $ 5.354 billion. In this way, Argentina reported a positive balance of USD 277 million in the tenth month.
From Radar Consulting, "as historically happens during Argentina's devaluing episodes, the adjustment of external accounts is linked, at least in the short run, to falling imports as a result of lower economic activity caused by accelerating inflation, exports, for various reasons, react slowly to the new exchange rate. "
The most significant surpluses registered in October corresponded to trade with Chile, which was USD 221 million; Vietnam, $ 177 million, Algeria $ 92 million, Bangladesh $ 87 million, Peru $ 86 million, and Indonesia $ 84 million, among others.
The most significant deficits registered in October were recorded with China, USD 321 million, the United States, USD 321 million; and Brazil $ 110 million, Indec said.
This month, exports of primary products totaled US $ 1,114 million, down 3.2%, due to a 5.8% decrease in the quantities sold, which could not be offset by a 2.8% increase. in prices.
At the same time, sales of agricultural products (EAA) increased by 4.4% compared to the previous year, reaching USD 2 027 million, with an increase of 3.5% in quantities and 0.9% than in October last year.
Industrial Production (MIP) amounted to USD 1,824 million, 3.4% less than in the same month of 2017, down by 6.9%, despite the fact that the quantities increased by 3.6% .
Meanwhile, Fuel and Energy sold $ 389 million, with a 25.8% increase in prices and a 4% increase in the amount.
Meanwhile, in the middle of the rise in the dollar and the slowdown in the industrial sector in September, imports recorded a decrease in the volume of all articles, with 12.9% in capital goods, 38% in capital goods and accessories, 46, 9% in motor vehicles, 12.8% in consumer goods.
"This is a sign that the investment is the component of aggregate demand that is downgrading, which compromises the long-term growth potential of the economy," Radar stressed.
In addition, they indicated that the prospect "is an improvement in external outcomes as a result of the economic recession that the economy is going through and a steady decline in imports." The year will end with a deficit of nearly $ 4,000 million. the surplus could exceed $ 3,000 million due to the persistence of falling imports and a strong increase in agricultural exports as it will be compared to the drought year. "
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