Thursday, 20 July 2023
In the first six months of the year, exports amounted to US$ 33.5 billion and imports totalled US$ 37.9 billion. The trade balance recorded a deficit of US$ 4.4 billion.
- In the first half of 2023 exports amounted to US$ 33.5 billion and experienced a year-on-year contraction of 24.5%, accounted for by a fall of 17.9% in quantities, and 8.0% in prices.
- Imports totalled US$ 37.9 billion and decreased 8.5%, as a result of contractions of 4.8% and 3.8% in quantities and prices, respectively. This decrease is mainly explained by lower prices and imported quantities of Fuels and lubricants, and Capital goods. In turn, there was an increase in imports of Parts and accessories for capital goods, both due to higher quantities and higher prices; and of Vehicles, due to a rise in prices that exceeded the fall in quantities.
- The trade balance recorded a deficit of US$ 4.4 billion, when in the same period of 2022 a surplus of US$ 3.0 billion had been achieved.
- The largest falls in exports were in wheat (−US$ 2.9 billion); soybean flour and pellets (−US$ 1.8 billion); corn (−US$ 1.6 billion); soybean oil (−US$ 1.4 billion); and biodiesel (−US$ 1.1 billion). The main increases were in motor vehicles for the transport of goods of total weight with maximum load of less than or equal to 5 tonnes (pick ups) (US$ 325 million); natural gas in gaseous state (US$ 266 million); motor vehicles for the transport of people, with a displacement of less than or equal to 1,000 cm3 (US$ 260 million); and lithium carbonate (US$ 156 million).
- Regarding the soybean complex, the prices of flour and pellets increased by 3.7%, while those of crude oil (−28.2%), biodiesel (−10.7%) and beans (−10.9%) decreased. As for the quantities exported, increases were seen in those of beans (35.3%), and falls were recorded in those of biodiesel (−86.8%), crude oil (−39.1%) and flour and pellets (−29.7%).
- As for imports, there stand out the largest purchases of soybeans (US$ 2 billion); iron or steel pipes, used in oil and gas pipelines (US$ 207 million); and electrical energy (US$ 158 million); and the falls in gas oil (−US$ 1.3 billion); liquefied natural gas (−US$ 364 million); natural gas in gaseous state (−US$ 313 million); and vaccines (−US$ 296 million).
- The three main partners, Brazil, China and the United States, represented as a whole 33.1% of the exports and supplied 54.7% of the imports. In turn, the share of the European Union was 10.1% of shipments and 14.2% of purchases.
- The highest surpluses were obtained in trade with Chile (US$ 2.0 billion), Peru (US$ 1.3 billion), India (US$ 792 million) and Vietnam (US$ 235 million); while the largest deficits were recorded with China (−US$ 3.9 billion), Brazil (−US$ 3.9 billion), the United States (−US$ 1.8 billion), Paraguay (−US$ 1.6 billion), Germany (−US$ 1.1 billion) and Thailand (−US$ 741 million).