Argentina's trade balance has experienced a significant deterioration in recent months, mainly due to a negative shift in the merchandise balance. In this sense, the balance turned into a deficit of $39 million, in contrast to the surplus of $651 million recorded in the previous six months. This change has been attributed to a notable increase in import payments, which have risen by 110% of the accrued amount.
Regarding imports, the demand for foreign currency concentrated in the automotive industry stands out, as well as the pressure generated by the end of the quota scheme, the liberalization of imports through couriers, and the elimination of the PAIS tax. Inveq points out that the new administration, under the direction of Luis Caputo, has prioritized normalizing the economic flow, although there are still aspects to be improved.
Despite efforts to regularize the situation, the total debt for imports has reached $57.3 billion by the end of September 2024, remaining at similar values to those of December 2023. In terms of goods, an initial growth was observed followed by declines in subsequent periods, while services have experienced a slight increase.
The trade opening measures implemented by the Government have affected the Central Bank's balance, which has shown a deficit of $57.3 billion by the end of September 2024. Despite efforts to reduce the debt, challenges in economic management still persist, leading to a negative balance in the current account and an unfavorable situation in terms of imports and exports.
Amid this scenario, an increase in the courier sector has been observed, with significant growth in the volume of operations. This increase is projected to continue in the coming months, with the arrival of a large quantity of products from China. While measures have been implemented to promote the early entry of dollars and alleviate pressure on the country's reserves, challenges in the economic sector require attention.
