In October economic activity continued on a path of recovery, after the collapse of March and April, as it threaded its sixth consecutive monthly rise: according to the INDEC, the Monthly Economic Activity Estimator recorded a 1.9% increase over September. It showed a contraction of 7.4% in year-on-year terms and thus accumulated a fall of 11.3% during the first ten months of the year.
The external debt's stock reached $272,854 million, at nominal value, in Q3 of 2020, it means a reduction of $3.96 billion concerning the same period in 2019 but an increase of $454 million compared to the second quarter of this year, according to data from the INDEC.
According to the Argentine Meat Exporters, argentine beef exports totalled 825,000 tons from January to November, a year-on-year increase of 10%, although revenues fell by 8% due to the international fall prices.
The soybean price closed at $463.4 per ton on the Chicago market. The Buenos Aires Grain Exchange announced that the 2020/21 cycle's local soybean area could be less than the 17.2 million hectares it estimated weeks ago due to the drought. According to the most conservative projections, the total 2021 crop, including soybeans, corn and wheat, would contribute over $31 billion in foreign exchange, if prices continue to rise, the entire campaign could be revalued by up to $39 billion.
According to private estimates, the poverty rate in Argentina will reach a peak of 43% by the third quarter of the year. At the end of Q3, the population's lowest sector had an income 17 times lower than that of the highest-income group.