A report from the Economic Commission for Latin America and the Caribbean (ECLAC) projects a 1% growth in regional services imports in 2024, a figure that relates to low economic activity. Despite the recovery in exports of goods and services, there is a highlighted need to diversify and add knowledge to them.
On the other hand, a 4% increase in the volume of imports is expected alongside a 2% decrease in prices, resulting in an estimated 2% increase in their value. In contrast, a 12% increase in the value of regional services exports is projected for 2024, driven especially by tourism and digital services.
According to ECLAC, Argentina will close 2024 with a trade surplus in goods of 24.845 billion dollars, mainly due to growth in agricultural exports after overcoming the drought of 2023. A 21% increase in Argentine goods exports is projected, reaching 80.8 billion dollars this year. Conversely, a 20% decrease in imports is expected, totaling 55.981 billion dollars.
Regarding goods exports, it is anticipated that South America, especially Brazil, Argentina, Chile, and Peru, will record the largest trade surpluses. Argentina and Uruguay stand out for the increase in agricultural exports, with increases ranging from 70% to 100%. In contrast, the largest decreases in imports are projected to occur in Argentina, Bolivia, Ecuador, and Panama.
For Argentina, a trade surplus in goods of 24.845 billion dollars is expected, marking a significant improvement compared to the previous year. In services, the country presents a deficit of 2.706 billion dollars, with exports of 17.076 billion and imports of 19.782 billion. At the regional level, a 4% growth in foreign trade of goods is forecasted for 2024, with added challenges due to geopolitical tensions and global protectionism.
