MercoPress. South Atlantic News Agency
Argentina reaches surplus target but exports in September plummeted 27%
Argentine exports in September experienced their largest drop since the 2009 financial crisis totalling 6.818bn dollars or 12% less than the same month a year ago, according to the latest report on the country’s foreign trade released by INDEC. Read full article
Comments
Disclaimer & comment rulesAh, “points out INDEC” so how much do we add on to the deficit in real money?
Oct 25th, 2012 - 08:22 am - Link - Report abuse 0Yes, we got an small surplus but, as imports are frozen (forbidden) so many industries are shut down or going to within the next months.
Oct 25th, 2012 - 09:48 am - Link - Report abuse 0I thought that the idea of this was to help exports...? Suplus targets are obviously met (in % terms against imports) as imports are sort of banned...but exports down? this is not good news and is the opposite of what the government expected to happen
Oct 25th, 2012 - 11:17 am - Link - Report abuse 0I want to see Think on this thread explaining how this ties in with his comment (and link) about the increase in financial direct investment in Argentina.
Oct 25th, 2012 - 11:39 am - Link - Report abuse 0Your CommentLets review, based on Indec's numbers: Imports July (19%) August (17%) September (14%)-Exports July (4%), August 17%, September (27%).
Oct 25th, 2012 - 12:20 pm - Link - Report abuse 0Certainly shows that imports are decreasing at a decreasing rate.....makes sense as they cannot totally cut off all imports. As for exports I would say they are decreasing at a increasing rate and that August was an anomoly due to the crisis drought in the USA. The surplus that they state they have will be very short lived.
The fall in exports is not great news, but it is not a disaster either. The country is still managing to run a healthy trade surplus, which is to be commended in the current global situation (if the INDEC figures are accurate).
Oct 25th, 2012 - 01:05 pm - Link - Report abuse 0Can you not correlate what exports decreasing at an increasing rate and imports decreasing at a decreasing ultimately means for a balance of trade? The surplus is short lived and than will be decreasing the “alledged” U$ reserves in the central bank.
Oct 25th, 2012 - 01:25 pm - Link - Report abuse 0How will Argentina make money when there is a trade deficit? Can you give me a breakdown of ARgentina's exports and to what countries for July, August and September?
6. They may be running a temporary surplus but they have destroyed many retail, mfg companies long term thereby increasing vacancies, unemployment and decreasing tax revenue.
Oct 25th, 2012 - 01:55 pm - Link - Report abuse 0This is a huge mistake they made for very short term solutions. Also WTO will rule in favor of the other countries and retaliation will begin next year. So for a 6-9 month surplus they destroyed 1000s of job,
Not a bright people.
@1 Of course imports of passenger cars are down. Who in argieland would have the money to buy one?
Oct 25th, 2012 - 01:57 pm - Link - Report abuse 0@6 Is it? As you yourself suggest, can figures from INDEC be trusted? Work on the basis that every figure is a lie. If it's good for argieland, halve the figures. If it's bad for argieland, double them. Good rule of thumb!
7 / 8
Oct 25th, 2012 - 02:35 pm - Link - Report abuse 0I am not condoning the CFK model. I have always maintained that Argentina would be best advised to follow the Chilean example, but that is not the path they have chosen.
Given the situation they have got themselves into, they have no alternative but to do everything to maintain that surplus. Economic collapse begins when the cash flow dries up. Until then, they can lose boats, get kicked out the IMF, annoy everyone, but remain afloat.
Seeing as the agro industry in Arg is efficient and the global demand for food is going to continue to rise, I think they are going to be able to keep their boat afloat.
10 Condorito (#)
Oct 25th, 2012 - 02:54 pm - Link - Report abuse 0Oct 25th, 2012 - 02:35 pm
There is serious talk here about nationalizing “unproductive agricultural units”. This sounds to me like Allende's agricultural reform!!!!!!!!
Simon,
Oct 25th, 2012 - 03:09 pm - Link - Report abuse 0That would put an end to the efficiency in the agro industry.
Surely that will be a step too far even for them.
12 Condorito (#)
Oct 25th, 2012 - 03:24 pm - Link - Report abuse 0Oct 25th, 2012 - 03:09 pm
Sadly NOTHING is a step too far for this pseudo government!!!!!!!!
The 'government' of AG hold a cabinet meeting.
Oct 25th, 2012 - 05:20 pm - Link - Report abuse 0TMBOA asks ‘why have these figures come out like this – it was supposed to raise exports!
A timid reply: it was the left hand President!
Left hand, left hand, what left hand?
I have no idea Madam President, I am the right hand. Don’t’ ask me what the left hand is doing!
And you think this is a joke?
LOLs
Condi, I do agree they are in a pickle and the export revenue is all they have left. Remember the countries that she has banned imports from have not yet retaliated. WTO should rule in a bit then watch that $1B/mo surplus vanish.
Oct 25th, 2012 - 05:38 pm - Link - Report abuse 0Yanqui, I agree that should happen in theory, but WTO disputes can drag on for years. Before any harmful rulings can be made they might just loosen import restrictions just enough to satisfy the WTO.
Oct 25th, 2012 - 06:07 pm - Link - Report abuse 0Add to that, that most Arg exports are commodities (i.e. not in competition with blocks like the EU) even with retaliation they should still find markets for their exports.
They're probably just going to limp on.
16. I think with so many countries complaining the WTO will rule rather quickly. The USA can always refuse to let them use the U$ as a trade vehicle which would make the soy worthless. Just ask Iran with their oil.
Oct 25th, 2012 - 06:32 pm - Link - Report abuse 0#10 Why not swallow some pride, say I fucked up let me back in the world because this ride is not stopping by me?
Oct 25th, 2012 - 07:13 pm - Link - Report abuse 0Simon, they just nationalized the cargo railway to see if it is running efficently. Surprise.
Condi I agree with Yankee that the shear number of complaints is not going to allow this to fester very long. This years RG was saved by extraordinary soy prices because of the US drought. They can't expect droughts in the US year after years. Prices near doubled due to the drought and expected to reset back the the 900 range next year. That coupled with the funhus of Argentina's wheat.....agri will be an uphill battle to save argentina..... a nationa of farmers?
@ 7 and 8 Isolde earning overtime $$$
Oct 25th, 2012 - 09:04 pm - Link - Report abuse 0Shut up! Get tired of your stupid comments!
#19 then don't read them asslips suzzie.....we really thought la campora killed you off....damnit !
Oct 25th, 2012 - 09:19 pm - Link - Report abuse 0“in September enjoyed a surplus of 911 million dollars”
Oct 29th, 2012 - 07:13 pm - Link - Report abuse 0What a coincidence!
#10 Nice to hear your honest assesment from the other side, rather than the foaming at the mouth catastrophism of some others. A measured political opponent rather than an out and out hater perhaps...
#11 Sounds good to me, go go Cristina =)
#15 “Condi” Your Queen? =)
#18 “Condi” Your's too? =)
A surplus of near 2 billion in July.....just over a billion in August.....under a billion in September.......no trend line analysis , or scatter graphs needed to she this trend.
Oct 29th, 2012 - 09:27 pm - Link - Report abuse 0Ah but you didn't answer my question about “Condi” =) Any surplus is a good thing to have, ask David Cameron! I imagine the financial attacks on the Argentine economy are responsible for the surplus getting smaller, they don't want thee threat of a good example...
Oct 30th, 2012 - 12:09 am - Link - Report abuse 0You love kirchner so much. What do you think about the talk in Argentina that asslips is canceling Argentine passports at the start of the new year> A rumor.....perhaps, and if it is true.....what is your impression of freedom there BK? When you see it you will believe it....right?
Oct 30th, 2012 - 12:51 am - Link - Report abuse 0Sounds like a tall tale to me
Oct 30th, 2012 - 01:17 pm - Link - Report abuse 0Not to the people in Argentina
Oct 30th, 2012 - 06:36 pm - Link - Report abuse 0#26 We'll see. Cristina will only do what she needs to for the common good, even if she has to be tough, the masses will support her protection of their interests even if the rich do not. Anyway, you've still not denied my question about Condi, your Queen...
Oct 31st, 2012 - 12:47 am - Link - Report abuse 0Of course taking their freedom is for the good. Who the fuck is condi?
Oct 31st, 2012 - 10:33 am - Link - Report abuse 0#28 She won't take the people's freedom, though she may have to restrict the dollar privileges of the rich
Oct 31st, 2012 - 12:04 pm - Link - Report abuse 0“Who the fuck is condi?”
Ask your hero Dubya!
You really assert a lot of assumtions about me. At least your pointless statements make me chuckle........you must be the blog's Jester?
Oct 31st, 2012 - 03:24 pm - Link - Report abuse 0As for queens...or kings for that matter....as an America, do you not know that we tossed that concept out on it's ass 225 years ago? The UK's history is ingrained with it and that's great for them, but not for Americans.
Now for my real two questions: What the fuck does Condelissa Rice have to do with this article? Or did you mean Condorito? Changing Condi's? Stay focused....pick one.....Rice or Condorito? I assume that is a male else the name would read: Condorita
So when are you making the pilgrimage to the “Socialist Mecca”, la casa rosada?
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