Agribusiness was a pole of the generation of dollars in the country during the first four months, monopolizing almost 70% of the total income in terms of foreign exchange, exceeding 12 billion dollars. Total agro-industrial exports rose by 1.5%, with a surplus of $104 million with record shipments of corn and wheat.
Last month’s net result was one of the worst, probably more harmful than the one recorded during the hyperinflation of mid-1989. The deficit reached an equivalent of $3.6 billion at the primary level, and $4.4 billion was the deficit at the financial level. It is a rate of more than 10% of GDP.
Industry plummeted almost 31% year-on-year in April. The first four months of 2020 saw a drop of 11.5% compared to the same period in 2019. Industrial activity recorded a 30.6% year-on-year drop in April, the lowest level of production since February 2003.
Among Latin American countries, the historical average of remittances was $280 per month, and this figure maintained until 2019. With the pandemic crisis now the standard in the country is below $100 per month.
Mercado Libre was ranked 37th in a Financial Times ranking, which also includes companies such as Apple and Alphabet. Sales traffic of the Mercado Libre platform increased by 76% in April.