The production of industrial SMEs grew 13% in March compared to the same month of 2020. The increase was foreseeable because it corresponds to a month of sharp decline; in March 2020, production had dropped 28.3% year-on-year at the beginning of the restrictive measures. Likewise, production is still 19.5% below pre-pandemic levels (March 2019).
Globant, the Argentine unicorn that offers global technology services, announced that it would generate 2,500 jobs this year in the country, as part of an expansion process it will carry out in the 12 cities where it is present to strengthen the national industry. Globant has more than 16,250 professionals and is present in 18 countries working for companies such as Google, Rockwell Automation, Electronic Arts and Santander.
Economic activity fell 2.6% in February on a year-on-year basis, while compared to January, the decline was 1%, thus cutting a streak of nine consecutive months of growth. It was reported yesterday by INDEC, which highlighted that the Monthly Estimator of Economic Activity (EMAE) accumulated in the first two months of the year a decline of 2.4%.
Argentina's commercial exchange recorded a surplus of $400 million in March, representing a 67% drop concerning the same period last year. The result is the result of exports for $5.72 billion and imports for $5.32 billion. Sales grew 30.5% in the interannual comparison, while imports jumped 68.7% in the same period.
The May position of the oilseed gained $13.23 in just one day to reach $563.37 per ton. Almost all commodities had a good day. Soybean oil, which reached its highest since 2008, climbed to $1,378.31 per ton, while soybean meal -the main local export by-product- was $465.17 per ton.
The Total Basic Food Basket (CBT) cost, which determines the poverty line, rose 5% in March, above general inflation. The second-highest increase in the last 12 months, behind October 2020, was 5.7%. March headline inflation accelerated to 4.8%, the highest monthly figure since September 2019.
Sancor Seguros presented yesterday Sancor Seguros Ventures, a new corporate venture capital fund that will invest in startups in the early stages of development in three sectors: insurance tech, fintech and health tech. The fund is a new corporate venture capital vehicle that will have $10 million to be invested in tickets of up to $500,000 among a portfolio of 12 startups, mainly in Latin America and covering global needs.