Poor performance of Argentina's industrial production during April

Thursday, June 12th 2014 - 07:01 UTC

Full article 5 comments

Despite some positive showings from the metal industry and refining overall the majority of sectors contracted

According to the Argentine Industrial Union (UIA), industrial production in the country fell 3.4% in April compared to the same month of 2013. Considering the first four months of 2014, the industry dropped 2.2% versus the same period last year.

The Industrial Activity report published by UIA also forecasts an annual retraction of 2.5%, comparing 2014 with 2013. In spite of the growth in metal production (11.7%) and oil refinement (6.4%), the majority of sectors (58%) registered a fall according to UIA.

Contractions were lead by the automobile sector (21.6%), cement (7.1), and minerals (4.1%), while industrial exports dropped 24% in April compared to 2013.

Meanwhile, agro-industrial exports were up 11%, lead by oilseed production (17.6%). Imports decreased 14%, but capital goods' imports grew 5% due to the newly train formation purchases made by the government.

Fuel imports also decreased 12% in April, while commercial energy deficit contracted 2.7% during the first four months of 2014 compared to the same period last year.

Categories: Economy, Argentina.

Tags: Argentina, Argentine Industrial Union, UIA.

Top Comments

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Troy Tempest
Nostril Argie

“There is inflation in Argentina. Due to 13 years of uninterrupted growth.”

Growth, negated by out of control inflation - record numbers of Argentines living in poverty - 11m and growing, in a population of 43m,
Jun 12th, 2014 - 02:21 pm 0
ChrisR
Wait until the figures for June come in!
Jun 12th, 2014 - 07:09 pm 0
Pete Bog
Lies! according to INDEC production has gone up in Argentina by 100%
Jun 13th, 2014 - 10:45 am 0

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