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Córdoba, Argentina

The exports of Córdoba reached US$ 2,567 million during the first four-month period of 2017

15/06/2017

The exports of Córdoba reached US$ 2,567 million during the first four-month period of 2017

The exports of Córdoba reached US$ 2,567 million during the first four-month period of 2017, representing 15% of the exports of the country. The figure meant an increase of 1% compared to the same period in 2016. This is explained by the increase of the Agricultural Manufactures (MOA), which represented 54% of the total exports with a variation of 6%. What is more, the Primary Products (PP) and the Industrial Manufactures (MOI) showed a decrease of 5% and 4% respectively.

The shipments were from the province to 142 foreign destinations in this period, where the main 20 destinations concentrated 78% of the exported value. The three main recipient countries were Brazil, Vietnam and China, with a participation of 12%, 10% and 5% respectively.

Regarding the Primary Products (PP), the first four-month period, 63% of the exports were cereals. The main destinations were Algeria, China, Brazil and Vietnam, which concentrated 45% of the exports of this sector.

The exports of Agricultural Manufactures (MOA) are concentrated mainly in residues and waste from the food industry (57%). With an increase of 20%, this accounts for the development of the sector in this period. This sector stands out for its greater diversification with respect to destinations. Vietnam is the first one with a participation of 13%. It is followed by Indonesia and India with 8%, and the Netherlands and the United Kingdom with 6%.

The Industrial Manufactures (MOI)  are very important in Brazil with 47% of the value of the provincial shipments, followed by the United States and Germany, which represent 70% of exports of this kind of products from the province. The concentration can also be seen in the products where the transport material represents 58% of exports.

The sustainability of this positive performance in the exports of the province of Córdoba, Argentina and Latin America during the rest of the year (after the 1.6% drop in 2016) is conditioned by the exogenous factors to the region, as the Inter-American Development Bank (BID) indicates in its last report of "Trade Trend Estimates: Latin America and the Caribbean.”

The U.S. Department of Agriculture (USDA) foresees record levels of production of corn and soybean worldwide along with a greater stock-consumption relationship of wheat (the highest one in the last fifteen years), which would promote a relatively steady tendency in the prices of the agricultural markets, even in a context of greater global demand induced by the development of China and the United States.

The uncertainty related to the political and economic situation of Brazil has significantly influenced in the development of trade due to its relevance for the reactivation of the intra-regional trade. In this sense, after the important downturn of the Brazilian economy in the last two years, the expected recovery for 2017 is very limited according to the World Bank that is an entity that foresees a growth of 0.3% in the real GDP for 2017.

In this context, the policy development that tends to improve competitiveness is very important as long as it promotes the manufacture of high-value-added products by diversifying the exports. As a result, this means an opportunity for the region and for Córdoba in particular, in a global context that has become more difficult and uncertain.

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