The trade balance of the energy sector in 2022 closed with the deficit that was forecast at the beginning of the year and despite the fact that revenues were high, the bulky imports of fuel and gas dealt a severe blow to the official accounts. Total products were imported for more than 12,000 million dollars.
The trade balance, which refers to the difference between purchases and sales abroad of the entire 2022 exceeded 4.4 billion dollars. This is indicated by the latest report of the Argentine Commercial Exchange (ICA) prepared by the National Institute of Statistics and Censuses (Indec).
exports
As the report states, In 2022, a total of 8,398 million dollars was exported, which means an increase of 58.9%., or 3,114 million dollars. This is explained because in the year there was a strong jump of 109.3% (2,019 million dollars) in sales of crude oil, which totaled 3,867 million dollars.
- US$ 8.398
- million were the revenues recorded from the export of energy products.
They were also driven, to a lesser extent, by the export of fuels, which totaled 2,573 million dollars, which is equivalent to an increase of 65%. once morest hand, Sales of petroleum gas, other gaseous hydrocarbons and electricity fell by 11.3%, compared to 2021.
If we analyze only December, it can be seen that exports of the segment amounted to 674 million dollars, which is equivalent to a jump of 7.5% over 2021. The increase originated as a result of a 2.3% increase in prices and another 18.7% increase in quantities. The greatest increase was registered in fuels, which was 85 million dollars.
imports
Imports of energy products throughout 2022 were 12,868 million dollars. The increase registered compared to 2021 was 120.2%, which is equivalent to some 7,025 million dollars of difference between one year and another.
- US$ 12.868
- million was what the State allocated to purchases of energy products during 2022.
As analyzed by INDEC, the increase of more than 120% was due to higher purchases of diesel (diesel), liquefied natural gas (LNG), gas in a gaseous state, gasoline excluded from aviation and also fuel oil.
To take into account, in December the import trend continued to slow down (the same had been seen in November) and in total purchases were made for a total of 435 million dollars, a drop of 38.6% year-on-year. This drop is explained by a drop in quantities of 55.5% year-on-year, since prices rose 37.5%.
Finally, official data from INDEC shows that the trade balance of the sector during 2022 closed at regarding 4,470 million dollars. 2021 had also closed with a negative balance, although it was 559 million dollars.
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