Monday, 23 October 2023
In the first nine months of the year, exports totalled US$ 51.2 billion and imports US$ 58.2 billion. The trade balance displayed a deficit of US$ 7.0 billion.
- Between January and September 2023, exports totalled US$ 51.2 billion, implying a year-on-year contraction of 23.9%, which is explained by a 16.0% drop in quantities and 9.4% in prices.
- Imports totalled US$ 58.2 billion and shrank by 10.1% in year-on-year terms, as a result of a drop of 6.5% and 3.8% in prices and quantities, respectively. This is mainly due to lower prices and imported quantities of Fuels and lubricants. On the other hand, the imports of Parts and accessories for capital goods increased, owing to higher quantities and price rises. In the case of Motor vehicles, the increase in prices failed to compensate for the fall in quantities.
- The trade balance registered a deficit of US$ 7.0 billion, due to a greater contraction in exports than in imports, when in the first nine months of 2022 a surplus of US$ 2.6 billion had been reached.
- The most significant falls in exports occurred in products such as: wheat (they decreased US$ 3.2 billion), soybean flour and pellets (−US$ 2.6 billion), corn (−US$ 2.4 billion), crude soybean oil (−US$ 2.3 billion) and biodiesel (−US$ 1.1 billion); while the largest increases were observed in motor vehicles for the transport of goods (US$ 313 million), soybean oil, excluded crude, (US$ 250 million), motor vehicles for the transport of persons and displacement equal or lower than 1,000 cm3 (US$ 245 million), natural gas in gaseous state (US$ 175 million) and lithium carbonate (US$ 143 million).
- In relation to the soybean complex, the prices of flour and pellets increased by 2.5%, while those of crude oil (−29.3%), biodiesel (−17.9%) and beans (−9.2%) decreased. As for the quantities exported, falls were recorded in those of biodiesel (−74.5%), beans (−54.3 %), flour and pellets (−30.6%), and crude oil (−21.7%).
- Regarding imports, the largest purchases of soybeans (US$ 2.9 billion) and iron or steel pipes used in oil and gas pipelines (US$ 209 million) stand out; while those of gas oil (−US$ 2.3 billion), liquefied natural gas (−US$ 767 million), natural gas in gaseous state (−US$ 684 million); and fuel oil (−US$ 435 million) decreased.
- The three main partners, Brazil, China and the United States, represented as a whole 33.2% of the exports and supplied 55.4% of the imports. In turn, the share of the European Union was 10.4% of shipments and 14.1% in purchases.
- The highest surpluses were obtained in trade with Chile (US$ 3.1 billion), Peru (US$ 1.7 billion), India (US$ 884 million) and Uruguay US$ 868 million); while the largest deficits were recorded with China (−US$ 7.0 billion), Brazil (−US$ 5.2 billion), the United States (−US$ 2.9 billion), Paraguay (−US$ 2.2 billion), Germany (−US$ 1.6 billion) and Thailand (−US$ 1.2 billion).