Argentina’s 2020 trade volume was US$ 97.24 billion, 14.9 percent down from the previous year, but with a trade surplus of US$ 12.528 billion, the INDEC statistics bureau reported on Tuesday. December weighed in with the only trade deficit of the year, US$ 364 million from exports of US$ 3.544 billion and imports of US$ … Read more
The International Monetary Fund has trimmed its 2021 growth forecast for Argentina, predicting the economy will grow by 4.5 percent this year. Previously, the multilateral lender had estimated growth of 4.9 percent this year, but the challenges of the Covid-19 pandemic and the fiscal constraints facing the country persuaded IMF officials to lower their forecast. … Read more
Soybean meal exports from Argentina, the world’s largest supplier of the cattle feed, are recovering strongly after labour strikes decimated soybean processing in December. So far this month until Wednesday, 2.16 million metric tons of flour have been shipped from the main ports, according to data from the Argentine shipping agency Alpemar. That figure exceeds … Read more
Economic activity contracted 3.7 percent in November 2020 year-on-year, the INDEC national statistics bureau revealed Tuesday. The data means that activity slumped by 10.6 percent in the first 11 months of 2020, when compared to 2019, mainly as a result of the coronavirus pandemic. However, activity did rise 1.4 percent in November from the previous … Read more
Argentina’s fiscal deficit skyrocketed last year to its highest since at least 1993, as the pandemic forced the government to increase social spending. The primary deficit, which excludes interest payments, rose to 6.5 percent of gross domestic product in 2020 from 0.4 percent a year earlier, the government said on Wednesday. With debt payments included, … Read more