The production of the automotive industry in the province of Buenos Aires registered in January the best performance of the “last five years” according to the survey of economic activity, highlighted the Minister of Treasury and Finance of Buenos Aires, Pablo López.
The Buenos Aires official highlighted the rebound in economic activity driven by sectors with strong traction over other industrial items, based on the advance of the results of the Monthly Estimator of the Activity of the Province of Buenos Aires (EMAPBA).
López, through his Twitter account, highlighted that “the province’s automotive industry began 2022 with an encouraging performance,” noting that vehicle production “went through the best January in 5 years.”
“This is a key sector to continue recovering the productive network and employment in Buenos Aires, which continues to consolidate,” said the minister in his post, which highlights that in January, 14,952 units were produced in the automotive terminals located in the province compared to 14,622 last year.
After a 2021 marked by a clear productive rebound, the beginning of the year for the automotive industry is promising.
The Province needs to consolidate a profile of sustained and persistent growth, fundamentally in those activities with more and better linkages.
– Pablo J. López (@PabloJ_LopezOK) March 9, 2022
But vehicle production in the first month of the year was also higher than that of January 2020 when 12,437 units left the terminals, compared to 2019 when 9,861 were manufactured and 2018 with 12,466 vehicles.
In this sense, López reviewed that in January, “The total production of the sector grew 2.3% compared to 2021, a period in which signs of economic recovery were already seen” and automobiles stood out, which grew 18% compared to 2018″, for which he assured that “the production of Buenos Aires is driving the national path”.
As part of this path, in 2020, automotive production at the national level registered an increase of 69%, while exports also had a strong increase and closed the year with an increase of 88% compared to 2020.
The minister also explained that “in line with the growth of the (automotive) sector, the aggregate production of fuels had in 2021 its best year since records are kept. In the annual accumulated, the province exceeded last year the 14.4 million cubic meters of diesel and naphtha produced”.
In another section of the presentation, he pointed out: “the economic activity of the Province, measured by the EMAPBA (Monthly Estimator of the Activity of the Province of Buenos Aires), already surpassed pre-pandemic levels and the dynamism of the manufacturing industry stands out, a sector in which the automotive branch has a considerable participation.”
“After a 2021 marked by a clear productive rebound, the beginning of the year for the automotive industry is promising. The province needs to consolidate a sustained and persistent growth profile, fundamentally in those activities with more and better linkages”, he concluded.
