According to the recent INDEC report, Rioja exports reached 77,451,536 dollars, which represents an increase of 42.4% compared to the same period of the previous year.
18:40 | Friday June 28, 2024 | La Rioja, Argentina | Fenix Multiplatform
The province of La Rioja has experienced notable growth in its trade exchange during the period up to May 2024. According to the recent INDEC report, Rioja exports reached 77,451,536 dollars, which represents an increase of 42.4% compared to the same period of the previous year. This significant increase has also been reflected in the trade balance, which recorded a surplus of $48,523,371.
Exports on the rise
The month of May 2024 saw a 28.8% increase in provincial exports, reaching $17,677,169. This growth was driven by higher income derived from products such as paper, cardboard and olive products. In cumulative terms through May 2024, exports showed robust growth of 42.4%.
Brazil, Chile and the United States are consolidated as the main trading partners of La Rioja, showing positive variations in their imports of Rioja products. Brazil leads with imports valued at $26,480,278, followed by Chile with $18,375,431 and the United States with $8,985,038.
Breakdown by Products
On the other hand, manufacturing of industrial origin, which represents 34.4% of exports, also showed an increase of 14.1%, with tetra pack packaging (paper and cardboard) and pharmaceutical products as the main contributors.
Imports on the decline
Contrary to exports, La Rioja’s imports showed a downward trend. In May 2024, imports totaled $5,138,154, representing a drop of 33.7% compared to May of the previous year. In the accumulated period until May 2024, imports reached $28,928,164, a decrease of 14.5%.
Intermediate goods, mainly paper, cardboard and aluminium, accounted for 98.4% of total imports. The main sources of imports were Brazil, China and Norway, although with notable variations, especially a 60.3% drop in imports from China and a 305% increase from Norway.
Conclusion
The report on La Rioja’s trade exchange as of May 2024 highlights sustained growth in exports, especially in agricultural and industrial products. Despite the reduction in imports, the trade surplus and the diversification of export destinations position La Rioja as a province with robust and expanding foreign trade.
