According to Production, 2018 was closed with investment announcements amounting to US $ 30,400 million

While in 2018, the pace of investment has slowed down significantly product of the currency crisis, a survey conducted by an agency of the Ministry of Production registered last year announcements of disbursements totaling US $ 30,400 million.

According to Investment Monitor, which develops monthly the Argentine Agency for Investment and International Trade (AAICI), in December 2018 investment announcements exceeded $ 5.7 billion.

"This amount four times in November and mark well a strong recovery report compared to the previous month, "says the report, which in turn ensures that since 2016 investment announcements have been over $ 135,000 million.

Provinces with the fastest growing ads

According to AICI, Argentina has recorded some losses 303 investment projects for a total of $ 30.4 billion. The provinces with the most progress were Misiones (+ 200%), Entre Ríos (+ 125%), Salta (+ 100%), Catamarca (+ 85%) and Córdoba (+ 50%).

At the sector level, disbursements have focused on Oil and Gas, Transportation and Infrastructure and Mining Projects which together account for 65% of the total, or about US $ 20 billion.

In 2018, some sectors such as Oil, gas and renewable energies have maintained their dynamism and others are starting to show signs of reactivation, as is the case with agriculture-based manufacturing, "said Francisco Uranga, executive director of AAICI.

He also noted that "although last year was marked by macroeconomic and external factors that affected the advertising rate in 2017," the agency notes a "trend toward recovery in the middle of this year".

AAICI noted that investment had increased by 2% in the first nine months of 2018 and "constituted the most dynamic component of GDP (Gross domestic product)".

"Although this indicator has shown greater dynamism, especially in the first quarter of the year, from the second half of 2018, there was a deceleration as a result of the volatility of the exchanges, which led investors to wait for a more favorable scenario to continue their projects ", indicates the report of the AICI.

The survey also highlighted the fact that in December, 24 investment announcements mainly from Brazil, France, United States and Canada.

badets

On the other hand, in December, capital goods were imported for $ 580 million, with the decrease in the number of agricultural machines (mainly tractors and harvesters) and construction equipment (bulldozers, excavators, among others), while the purchase of generators badociated with wind projects has increased.

During the year, imports of machinery and equipment, a component related to the level of investment, were reduced by 3%.