-
Temwa Chawinga makes NWSL history; K.C. Current forward gets 20th goal of the season, scores vs. all 13 teams - 8 mins ago
-
‘Much-loved’ Glasgow spa therapist killed in M6 crash - 11 mins ago
-
Caesars Sportsbook Promo Code NEWSWK1000: Georgia-Texas $1,000 Bet Offer - 22 mins ago
-
Ten-Man AC Milan Hold On To Squeeze Past Udinese - 25 mins ago
-
Tavia Da Costa: Vigil held for toddler - 29 mins ago
-
Lakers News: How Many Points Did Bronny James Score in First LA Start vs Warriors? - 39 mins ago
-
Shedeur Sanders hits Drelon Miller on a shovel pass for a TD, extending Colorado's lead over Arizona - 41 mins ago
-
United Rugby Championship: Glasgow snatch late bonus points in Sharks loss - 45 mins ago
-
In El Paso, paying tribute to victims of anti-Latino hatred - 54 mins ago
-
ESPN BET Promo Code NEWSWEEK: $1,000 Bet Reset for Georgia vs. Texas - 55 mins ago
Argentina records historic foreign trade surplus — MercoPress
Argentina records historic foreign trade surplus
Friday, June 21st 2024 – 23:04 UTC
Argentina recorded a historic foreign trade exchange surplus of US$ 2.656 billion in May, Argentina’s Trade Exchange (ICA) reported Thursday in Buenos Aires. The new figures surpassed the previous record of US$ 2.543 billion from May 2009. So far in 2024, Argentina has accumulated a balance of + US$ 8.8 billion.
After the devaluation of the peso in December, President Javier Milei’s administration has kept a positive balance on the trade front since taking office, in addition to a surplus in public expenditures.
Last month, exports totaled US$ 7.622 billion (+21.7 % year-on-year), while the devaluation resulted in imports plummeting by 32.8% to US$ 4.966 billion.
Despite a rebound in imports, a positive outcome is still projected for 2024. According to the latest Relevamiento de Expectativas de Mercado (REM) of the Argentine Central Bank, exports are expected to end the year at around US$ 77.904 billion, while imports are expected to reach US$ 61.517 billion, for a surplus of around US$ 16.400 billion, driven among other items by agricultural exports now that last year’s severe drought has been overcome.
After a May 2023 deficit of US$1,124 million as a result of the drought, exports grew by 21.7% year-on-year until the end of the year while imports fell by 32.8% interannually.
In this scenario, Economy Minister Luis Toto Caputo told agro-exporters that the blend dollar would remain until December, allowing a liquidation of 20% of these revenues in the financial market.
Analysts have warned about the need to monitor the cash base flows of export liquidation, given the fall experienced since May, even with the improvement observed for agricultural flows as the growing trend of exports in quantities will continue, mainly driven by the primary and energy sectors.
Regarding imports, the experts foresee that they will remain low although recovering in line with a peso appreciating against the US dollar.
Source link