Imports down but trade deficit remains high | News instantly from LAVOZ.com.ar

Despite the collapse of the dollar in June, the deficit of the Argentine Trade Exchange reached $ 5,101 million in the first half of the year and almost doubled compared to the same period in 2017.

L & # 3939; National Institute of Statistics and Censuses (INDEC) reported that last month, the trade balance of the trade balance was $ 382 million, which represents a sharp decline of about 70% compared to May.

Even the measure from one year to the next shows that the red decreased by almost 50% (in June of the year, it was 750 million dollars). "The change in the June 2018 trade balance compared to June 2017 was the result of a lower import decline than the decline in exports," they told the state statistics agency.

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"Recent devaluation events show a similar trend, with imports tending to fall due to the exchange rate jump, while exports do not react upward, "said a report from the consulting firm Radar.

Devaluation led to a 15% contraction in imports between May and June. when they went from 6.447 to 5.458 million dollars.

"Prices rose 4.7% and quantities contracted by 11.7%," detailed the report of the National Statistics Agency

. Imports of capital goods fell by 16.9%, intermediate goods rose by 4.1%, fuels and lubricants fell by 6.2%, parts and accessories for capital goods fell by 6.2%, equipment fell 10.3%, consumer goods fell 8.8% and pbadenger vehicles 15%. "

Stock Exchange

With the June figures, the trade indicator has been in deficit for 18 months and nearly doubles levels recorded In the first half of last year, the deficit was $ 2,616 billion

but the June level was the lowest in the year and, although the red remains, badysts have calculated that the current dollar price could maintain the trend of leveling the end of the year

INDEC pointed out that the inter-annual variation in imports was 7.5 percent and was also "the result of a drop in imports greater than the fall of the "Imports."

It was stated that the greatest drag was felt when overseas purchases of motor vehicles, tractors and other vehicles. In this sector, $ 201 million was imported less, accounting for 45.5% of the total decline in imports.

"The only significant increase in imports was soya excluded for sowing (an increase of $ 148 million)," Indec.

The report also reflected drought in the agricultural sector: exported $ 290 million less soybeans excluded for planting, which was the largest drop in foreign sales in June [19659002] "The sum of net exports (exports minus imports) of the four main products derived from the cultivation of soybeans (oil, biodiesel, flour and pellets, and soya, excluded for sowing) recorded, last June, compared to 2017, a down $ 469 million, representing a loss of income equivalent to more than 122.7% of the June trade deficit, "he explained. Indec.

Major trading partners continued to be Brazil, China and the United States, respectively. The three countries are at the top of the ranking of exports and imports.

"Exports to Brazil reached $ 979 million and imports from Brazil $ 1,372 million" to then calculate the trade balance with Brazil. the neighboring country "was deficit of 393 million dollars."

The situation with Brazil requires a separate chapter in the calculations because it is subject to the scenario of political uncertainty facing this country and that could begin to be defined after the presidential elections

In Regarding sales of Argentine products in Brazil, China and the United States, the Indec index announced that they reached $ 1.663 billion in June. The volume accounted for 32.8% of total exports

Dollar

Facilities for tourism

Yesterday was another day of decline for the dollar: at the end of the day was gone at $ 28.03 (down 10 cents from Tuesday). It was the second consecutive loss in the week.

Tourism. In order to encourage the arrival of tourism, the government has arranged for foreign citizens who have permission to enter the United States. and most countries in Europe will no longer have to present consular visas to visit Argentina.

* Corresponsalía Buenos Aires