Buenos Aires — Argentine exports increased by 37% year-on-year in November, their highest level since 2012, Argentine news agency Télam said, quoting the country’s investment and foreign trade agency AAICI.
With total foreign trade of $6.16 billion in November, the automotive sector put in its best performance in eight years, while agricultural products registered record export volumes during the month.
Car and commercial vehicle exports totaled 32,513 units, the highest volume since November 2014.
- Main markets: Brazil was the largest recipient of Argentine exports, with 19.6% of the total, while the other main export markets are Chile, India, the U.S. and China, which together with Brazil accounted for 45% of the total.
- Imports: Purchases from abroad totaled $5.76 million, giving Argentina a trade surplus of $397 million during November, and of $14.3 billion during the year.
Argentina’s Foreign Minister Santiago Cafiero said: “the outstanding growth in exports is a clear sign of the economic recovery across various sectors in Argentina. For the country to grow it is necessary for exports to increase”.
Exports during the first 11 months of the year totaled $71.3 billion, a 38.9% increase over the same period of last year, and a 19.4% increase over the first 11 months of 2019.
- Agricultural Component: The exports of agricultural products in November totaled $2.45 billion, while the export of raw materials totaled $1.32 billion, the second-highest figure on record, with the highest figure having been recorded in November 2019.