January trade balance recorded $1.07 bn surplus

The trade balance recorded a surplus of $1.068 billion in January due to exports of $4.91 billion and imports of $3.84 billion. The first month's data seem to indicate a general improvement in the country's foreign trade conditions. Strictly speaking, the higher export earnings were the result of the increase in the price of soybeans averaging $500/tonne. In terms of quantities, there was a fall in shipments abroad.

Economic activity rose 1.3% in the first month of the year

Economic activity in January recorded year-on-year growth of 1.3%, according to estimates by the Orlando Ferreres Centre for Economic Studies. Half of the impetus for growth in the first month of the year came from industrial activity; the manufacturing sector is the engine of economic recovery after the financial collapse of 2020 caused by the covid-19 pandemic.

Cresud sold meat processing plant in La Pampa for $10 mn

As part of a strategic plan to obtain liquidity to finance new investment projects, Cresud completed the sale of 100% of the shares of Sociedad Anónima Carnes Pampeanas. For this operation, the agro-industrial firm belonging to the group led by Eduardo Elsztain obtained $10 million. The procedure will profit 620 million pesos ($6.9 mn) to its balance sheet.