Argentine Logged Record Exports of $40 billion in 2005

Argentina experienced a trade surplus of $11.3 billion in 2005, higher than expected, but 6.46 percent below 2004 reported the Institute of Statistics and Census.

Exports tabbed a record $40.01 billion, 16 percent higher than in 2004, and mainly boosted by volume (15 percent) than prices (1 percent). The automobile industry with overseas sales of $2.9 billion, 41 percent increase, was by far the most dynamic with shipments going mostly to Brazil, Mexico and Chile.

Second was agriculture (cereals, oil, seeds) with $2.43 billion, a 33 percent spike, and then metals and manufactured goods $2.3 billion, up a whopping 35 percent from 2004.

Overall industrial manufacturing exports expanded 25 percent in 2005 over the previous year, followed by agriculture, up 10 percent; primary products 16 percent and fuel and energy 13 percent.

Imports increased 28 percent, reaching $28.7 billion, with fuel and lubricants expanding 54 percent, followed by capital goods 33 percent, mainly cellular phones, transport and cargo vehicles, sea tankers and computers. Capital goods accessories jumped 32 percent and consumer goods, including automobiles, 27 percent.

The 2004 trade surplus was $12.1 billion. Forecasts for 2006 vary between $9.7 billion, according to the basic figures of the national budget, and the more optimistic estimate of the Argentine Central Bank with $11.5 billion.