Argentina: The trade surplus slowed down in January to less than $800 million.
Argentina: The trade surplus slowed down in January to less than $800 million.
It was due to a recovery in exports and a sharp decline in purchases from abroad.
Argentina’s trade balance in January resulted in a surplus of $797 million, reversing the $443 deficit from the same month last year, due to a recovery in exports and a sharp decline in purchases from abroad, reported the National Institute of Statistics and Censuses (INDEC) on Tuesday.
Exports increased by 9.6% year-on-year to reach $5.398 billion, while imports fell by 14.3% to total $4.601 billion, according to the agency.
The official dollar rate – excluding taxes – closed on Tuesday, February 20th, at $823.36 for buying and $882.45 for selling. Meanwhile, the cash dollar at Banco Nación rose by 50 cents and ended at $816 for buying and $856 for selling. On the other hand, the Central Bank (BCRA) concluded the session with a net positive balance of $140 million.
Thus, for the month so far, it added $1.659 billion to its coffers. In this context, the monetary authority’s reserves increased by $235 million to $27.092 billion.
The Contado con Liquidación (CCL) dollar reaches $1,140.69. Thus, the spread of this exchange rate with the official rate stands at 36.3%.
The number 2 of the International Monetary Fund (IMF), Gita Gopinath, will travel to Argentina this week ‘to meet with government officials and others to learn about Argentina’s difficult economic and social challenges, as well as its vast potential.’
This was detailed by the spokesperson for the organization, Julie Kozack. Gopinath will travel to Brazil to participate in the meeting of finance ministers and foreign ministers as part of the Group of Twenty G20 and will also pass through Buenos Aires to closely follow the agreement with the government of Javier Milei amid an increase in social conflict while the Executive highlights the fulfillment of fiscal and financial results.
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