In February, the price of houses per square metre in the Federal Capital and Greater Buenos Aires fell by 5.8% compared to the same month last year, while that of flats followed the same downward trajectory by 6.5%, according to a survey conducted by the University of San Andrés.
China's gift (valued at more than $5 million) underpins the military link; donating non-lethal equipment guarantees that the gesture will not have geopolitical implications. The Chinese mobile hospital will become part of the Argentine Army Health Service. The second hospital of Chinese origin that the force has received, the previous one, was donated in 2017. It includes 13 container-modules with their respective transport trucks, an innovative capacity that allows them to move where assistance is needed.
The manufacturing industry chained its third consecutive annual improvement as in January 2021; it recorded a 4.4% growth compared to the same month of 2020. The excellent start to the year drove by a 31.5% annual increase in non-metallic minerals, caused by good activity in the construction sector.
Construction activity began the year with a substantial jump, showing a 23.3% year-on-year growth, according to the INDEC (National Institute of Statistics and Censuses) on Thursday. It is the third consecutive year-on-year increase after 26 months of decline. The Synthetic Indicator of Construction Activity (ISAC) increased 4.4% monthly in the measurement without seasonality. Thus, the ISAC registers a rise that places it at a level 28% higher than the pre-covid level of February 2020.
The International Monetary Fund (IMF) will enable the Special Drawing Rights (SDR), with which there will be extra money that the financial organisation will transfer to the countries that have their contribution up to date. Argentina is one of them; it assumes that between $3.3 and $3.5 billion extra money will arrive from the IMF in the coming weeks, without the need for adjustment applications or any relation to the Extended Facilities agreement that the government is negotiating with the Fund. The money represents the country's 0.7 per cent quota share of its total contributions as an active member of the IMF.
State-owned oil company YPF reported Thursday that in 2020 it had a net loss of $1.09 billion but that in the last quarter of the year, it was able to cut the loss by more than $540 million from the accumulated decline up to September. As a result of a more significant normalisation of economic activity, and after the debt swap, the company plans to invest $2.7 billion in 2021.
Honda Motor de Argentina announced yesterday that it invested u$s5 million to produce a new motorbike model. This amount is in addition to the $15 million that the company has spent over the last two years on its production lines and parts' localisation process.
With the update of the Internal Taxes' taxable base arranged this week by the AFIP, the automakers are preparing to adjust the price lists of the 0 km that will apply from Monday. The first carmaker to change prices is Toyota. It increased the wholesale value of some models by 11% but only passed on 5% to the public. The other brands are defining their strategy.
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 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.