July trade marked a deficit of US$ 437 millionwhich contrasts with the positive result of US$ 1,536 million recorded in the same month last year, reported the National Institute of Statistics and Censuses (Indec).
During the seventh month of the year, purchases of manufactured fuels and lubricants were particularly distinguished, which reflected the greatest variation and increase in absolute values of all sub-items (1,368 million dollars), explained by a rise of 111.3% in product prices and 50.8% in quantities.
The INDEC also reported that if the prices of the same month of the previous year had prevailed, the trade balance would have shown a surplus of US$ 425 million.
Based on the results reported by the official agency, in July, exports totaled US$ 7,732 million with an interannual increase of 7.2%; while imports amounted to US$ 8,210 million, with an increase of 43.7%.
In this way, in the first seven months of the year, the trade exchange showed an accumulated surplus of US$ 2,540 million, below the US$ 8,310 million of January-July 2021.
The negative result in the trade balance for July was the second in a row, after the red of 115 million dollars registered in June.
Between January and May, the trade balance was positive for the country, with a peak of 1,444 million dollars in March.
This was due to the fact that the increase in the average price index for exports was 13.4%, while the value of imported products increased 27.8%.
In this frame, the country recorded a loss in the terms of trade of US$ 767 million, the agency specified.
It also reported that during July, the unit value of international freight was US$ 117.8 per ton, 54.2% higher than the same period in 2021 and 42.9% higher than that of July 2020.
The result of exports, which amounted to US$7,773 million, 7.2% more than the same month in 2021, was due to a 13.4% increase in prices, since quantities fell 5.6%.
Although all the exported items registered increases in their turnover, only one, that of manufactures of industrial origin (MOI), also increased its quantities sold by 0.6%.
In this framework, MOI sales totaled US$ 1,956 million with an inter-annual increase of 3.6%; fuels and energy (C&E), US$ 414 million and an increase of 7.8%; primary products (PP), US$ 2,468 million and 4.6%; and manufactures of agricultural origin (MOA), reached US$ 2,935 million 12.1%.
Regarding imports, Capital Goods totaled US$ 943 million with an increase of 23.3%; the Intermediates US$ 2,719 million and 33.1%; Fuels and Lubricants US$ 2,281 million and an increase of 217%; Parts and Accessories US$1,301 and 31%; Consumer Goods US$ 715 with an increase of 17%, and Vehicles US$ 200 million and 41%.
The exchange with the Mercosur countries showed a negative balance of US$ 226 million in July.
Within the region, exports totaled US$ 1,554 million, 24.2% higher than in July 2021, mainly due to an increase in sales of manufactures of industrial origin.
74.3% of the bloc’s exports went to Brazil; 14.3% to Paraguay; and 9.3% to Uruguay.
In July, trade with Mercosur represented 20% of total exports and 21.7% of imports, reported Indec.