MercoPress. South Atlantic News Agency
As Argentine economy picks up, imports soar and trade surplus is down
Argentina's trade surplus narrowed by 19% in June from the same month a year ago, falling short of market expectations as brisk economic growth fuelled demand for imports, according to official data released last week. Read full article
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Disclaimer & comment rulesThank you India :)
Jul 28th, 2010 - 03:36 am - Link - Report abuse 0too bad we couldn't get China on board, but with soy demand going through the roof maybe next year we can lock in better prices, who knows they can always change their minds, this would be a bad sign since the cattle industry in both Barazil and Argentina are losing ground to the soy fields, We have to wait and see what happens to the Brazil's soy king fiasco.
“While the investigation focused on activities in the state of Mato Grosso, which is located in the southern Amazon and is one of the most deforested regions largely due to clearing land for expanding soya farms, it touched numerous others, including São Paulo, Paraná, Rio Grande do Sul, Espirito Santo, Minas Gerais and Distrito Federal.”
http://news.mongabay.com/2010/0708-neme_operation_jurupari.html
in any case I am sure none of this will affect the contractual agreement with China and the soy inport from Brazil, or will it ?
Some pearls of this article in apparition order:
Jul 28th, 2010 - 05:05 am - Link - Report abuse 0brisk economic growth........
Exports rose 22% while imports surged by 40%, driven by increased demand for fertilizer, iron-ore and car parts.........
Imports are starting to recover as the economy is peaking.......
Cristina Kirchner announced another Central Bank record of reserves, and confirmed her administration’s policy of cutting government debt.........
International reserves of the Argentine Central Bank reached 51.008 billion.....
Let's see. Imports, for which you have to pay, go up. Exports, for which you get paid, go down. Really sound economics, South American-style!
Jul 28th, 2010 - 01:24 pm - Link - Report abuse 0harrier - You have it exactly correct!
Jul 28th, 2010 - 01:31 pm - Link - Report abuse 0I think what really matters at the end of the day is the cashflow, and according to this report,
Jul 28th, 2010 - 07:02 pm - Link - Report abuse 0“Today we have 51.008 billion US dollars in reserves and we broke another one of our own records. It fills us with pride. We are going to be able to pay the Boden 12, which will not be swapped but paid for, because the plan is to continue to get out of debt. This is a good path”
all this data is relative, export rose 22% could mean it rose from 1.000.000$ to 1.220.000$, and the inport rose 40% can mean it rose from 100$ to 140$, in any case since there is no point of reference, what I get from this report is that we have 40% greater purchasing power to import and that this purchasing power is backed by an increase in export income. #3 is turning macro economics into a grade 4th math quiz and #4 his little class mate helping along.
Idiot avergas:
Jul 28th, 2010 - 07:55 pm - Link - Report abuse 0this would be a bad sign since the cattle industry in both Barazil and Argentina are losing ground to the soy fields, We have to wait and see what happens to the Brazil's soy king fiasco.
Bull. first of all it's Brazil. according to HSBC bank study (for who I work)..Brazil has plenty of land (more than argentina) for further growth in soy without losing any land for cattle that is the biggest in the world. Brazil's soy king fiasco? Do they have a king or you just envy them by calling them a king because they do simply better business than your silly nation. I suspect the last one, because we both know they are doing better than the argies, when it comes to business. Oh by the way, they are on track for another record..Laugh. Third, Brazil isn't that highly depend on exports on soy or other commodities like iron, coffee, sugar, poultry, as many people like to think. It's the third most industrialized nation in the Americas, and none of the south american nations comes even close to them. You read that idiot avergas how silly your nation really is today 2010? . Your GDP+Chile's GDP is less the GDP of the state of Sao Paulo. LAUGH.
good on you argentina, keep up the good work, and soon you will be able to buy a new rowing boat,
Jul 28th, 2010 - 10:32 pm - Link - Report abuse 0Wasn't it avargas who said that Argentina had everything it wanted or needed in Argentina? What are they importing for?
Jul 29th, 2010 - 10:47 am - Link - Report abuse 0proberbly because they cant read
Jul 29th, 2010 - 08:01 pm - Link - Report abuse 0Friday 30/07/10
Jul 31st, 2010 - 10:04 am - Link - Report abuse 0International reserves of the Argentine Central Bank broke a new record today: 51.076 billion....
Nowhere near Britain's reserves. Poor poverty-stricken Argentina.
Jul 31st, 2010 - 02:36 pm - Link - Report abuse 0Commenting for this story is now closed.
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