Argentina shows signs of recovery in foreign trade, says economist
RIO DE JANEIRO, BRAZIL – Argentina is beginning to show signs of recovery in foreign trade after registering a favorable balance in January, an economist has said.
The growth in both exports and imports is “very good news that indicates a rebound in foreign trade,” said Julia Segoviano, an economist from the financial consultancy group Labour Capital and Growth.
“The January result was good, especially since we returned to a trade surplus after losing it last December. In fact, this surplus was over 1 billion U.S. dollars, the highest since September (2020),” she said.
According to Argentina’s National Institute of Statistics and Censuses, in January, the country’s sales abroad totaled US$4.91 billion with growth in shipments of soy products as well as electricity, while imports amounted to US$3.84 billion and increases were registered in acquisition of transportation vehicles and iron products.
China, a major commercial partner of the South American country, is “an economy of great weight,” which could be significant to Argentina’s trade recovery, according to the economist, who highlighted the importance of strengthening the two countries’ trade ties.
“An increase in Chinese demand in general, due to its importance within the volume of world trade, improves the terms of trade for Argentina,” she said.
“It would be good if the exchange with China is further strengthened,” said Segoviano.
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