2024-01-23 03:15:00
Energy imports during 2023 registered a significant drop in dollars higher than 38% year-on-year, which was close to US$5 billion dollars. The consolidation of the oil industry, added to a drop in international prices, They left the sector at the door of surpluswhich presents a solid scenario for this year.
At the general level, A total of 7,924 million dollars was allocated for imports energy, which means a year-on-year reduction of 38.4% (US$ 4,994 million). In 2022 the expense was 12,868 million dollars not only due to a high level of purchases, but mainly due to a complex international price scenario.
The data is official and comes from the latest Argentine Commercial Exchange (ICA) report from the National Institute of Statistics and Censuses (Indec).
According to data extracted from the official document, the dollars generated by exports included in the Fuels and Energy (C&E) category They were 7,878 million dollars, in 2023. In year-on-year terms it means a drop of 7.4% And in the same period last year the accumulated amount was 8,509 million dollars.
- 7.878
- million dollars were energy exports, during 2023.
In this way, the official information from Indec shows that the accumulated trade balance of last year showed a negative balance of 46 million dollarsvery close to the trade surplus. The accumulated figure for 2022 closed with a large deficit of 4,359 million dollars.
Despite the deficit, this means that last year there was less spending in dollars of 4,313 million dollars. The data show that the sector, Due to some successes and an international scenario with less uncertainty, it achieved a 180-degree turn last year regarding the direction in which it was going in 2022.
Energy balance: December, fourth month with a surplus
If only the data for December are analyzed, the difference in dollars between exports and imports showed a surplus of regarding 371 million dollars. This is the fourth consecutive month of the year in which the result is positive, since the upward trend has been maintained since September.
According to Indec records, exports in the CyE category were for a total of 686 million dollars. It means a drop of 12.7% year-on-year, which is equivalent regarding 100 million dollars.
- 371
- million dollars is the surplus that was recorded in December 2023.
The value of CyE exports fell by 2.7% in prices and 9.8% in quantities. The only sub-item that did not register a drop was crude oil, which jumped 30.4%.
Regarding imports, In December there were purchases abroad for a total of 315 million dollars, a year-on-year drop of 27.6%. In the same month last year, spending was 435 million dollars (-US$120 million).
As detailed, the reduction was due to a 29.5% drop in prices, since quantities increased by 5.8%.
Energy balance: the impact of the sector at the national level
At a general level, exports in the country during December were 5,273 million dollars, while imports were 4,255 million dollars. Which translates into a trade surplus of regarding 1,018 million dollars.
The country’s total exports fell 13.8% that month, equivalent to regarding 846 million dollars, compared to the same month in 2022. As for imports, the report shows a contraction of 15.2% year-on-year, which meant lower purchases of 762 million dollars.
As we mentioned earlier in this article, energy exports were reduced by regarding 100 million dollars, which means 11.8% of the 846 million general drop for the month. While imports from the sector contracted regarding 120 million dollars, 15.7% of the reduction of 762 million in December.
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