Argentine Exports Hit Highest Level Since 2012

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.

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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”.

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Annual Exports

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.

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