MercoPress. South Atlantic News Agency

Argentine SME exports grow 17.3% in 2024

When measured in dollars, sales grew despite an average contraction in prizes

Argentina's Chamber of Medium-sized Enterprises (CAME) released a report this weekend showing an interannual growth in exports of 17.3% measured in US dollars, with total sales amounting to US$ 10.032 billion, which represented 12.5% of the country's shipments. In addition, if measured in volume, SMEs exported 8.5 million tons, a 25.1% increase from 2023. However, CAME noted that the average price per ton fell by 6.3%.

Of the 9,269 Argentine companies involved in foreign sales last year, 6,428 (or 69.3% of them) were SMEs, CAME also underlined. According to the guild, 49.9% of SME exports in dollars consisted of 4.3 million tons of unprocessed food, yielding revenues worth around US$ 5 billion.

“Industrializing products at source would not only generate higher income but also promote job creation and strengthen the international competitiveness of SMEs,” CAME highlighted.

Tobacco and derivatives recorded the largest year-on-year drop in exported dollars, with a 37.5% decrease. In contrast, Miscellaneous manufactured items grew 1,206.5% from the previous year.

In terms of volume, petroleum and fuels led growth with an 84% increase, while Tobacco and derivatives also suffered the largest contraction, with a 36.3% drop.

South American destinations accounted for 33.1% of SME exports, with Brazil topping the list with 14.1% of total shipments, which represented a yoy growth of 20.2%. Europe represented 24.1% of total sales, a 16.4% improvement from 2023.

CAME also underscored that 86.9% of SME exports were sold to 30 countries out of a possible total of more than 198. “Generating added value in exported products and diversifying destinations are essential steps to strengthen the local economy, reduce dependence on international price fluctuations, and move towards a more sustainable industry,” the report noted.