Argentine trade exchange - January-October 2022

Wednesday, 23 November 2022

In the first ten months of the year, exports totalled US$ 75.1 billion and imports US$ 70.7 billion, both values represent record levels for that period.


• Exports amounted to US$ 75.1 billion between January and October 2022, and exceeded by almost US$ 5.0 billion the maximum previous value for the same period of 2011 and by more than US$ 10.0 billion the value recorded in January-October 2021. They accumulate a 15.3% year-on-year increase, which is explained by a rise in prices (17.6%), while quantities decreased (−1.9%).

• Imports reached US$ 70.7 billion (growth of 38.2%), driven by higher prices and quantities of Fuels and lubricants, higher prices of Intermediate goods and higher quantities of Capital goods and their parts.

• The trade balance achieved a surplus at US$ 4.4 billion, US$ 9.6 billion less than the positive result of January-October 2021, resulting from the greater pace of growth of imports than exports.

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• The three main trade partners, Brazil, China and the United States, absorbed as a whole 30.8% of the exports and supplied 53.6% of the imports in January-October 2022. In turn, the European Union concentrated 12.3% of shipments and 13.5% of purchases.

• The largest surpluses in trade were registered with Chile (US$ 3.5 billion), India (US$ 2.1 billion), the Netherlands (US$ 2.1 billion), Peru (US$ 1.7 billion) and Vietnam (US$ 1.7 billion).

• The highest deficits were seen with China (US$ 8.0 billion), United States (US$ 3.4 billion), Brazil (US$ 3.3 billion), Germany (US$ 1.6 billion) and Bolivia (US$ 1.6 billion).

• Highlights include increases in crude oil exports (US$ 1.8 billion), wheat (US$ 1.7 billion) and frozen bovine meat, boneless (US$ 0.7 billion). The largest drop corresponds to soybean oil (−US$ 0.3 billion).

• It is worth highlighting the increases in the prices of all the products of the soybean complex: oil, 33.6%; biodiesel, 18.6%; beans, 14.0%; and flour, 11.0%. In relation to the quantities exported, those of oil (−29.2%), beans (−13.8%), biodiesel (−13.1%) and flours and pellets (−12.7%) decreased.

• Regarding imports, there stand out the highest purchases of diesel oil (US$ 2.9 billion), liquefied natural gas (US$ 1.5 billion), gaseous natural gas (US$ 0.7 billion), gasoline, excluding that for aviation (US$ 0.6 billion), and fuel oil (US$ 0.5 billion), while those of vaccines (−US$ 0.3 billion) and soybeans (−US$ 0.3 billion) decreased.

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