The banking sector accumulated a 46% lower gain in the first four months of 2020 than in the same period of 2019. In financial intermediation, the banks lost, and this year they are failing again. The credit part is dead, and the liability rates have the floor, so the margin is not right. The gain comes from trading and the difference in the exchange rate.
In the first five months of the year, the Port of Buenos Aires operated 1.5% more cargo than in the same period in 2019. This growth is due to the measures implemented by the Government to promote and guarantee Argentine foreign trade.
The city of Buenos Aires had a slight upturn in June that is not enough to show a recovery, given that the year-on-year comparison shows a drop of 48%. June was the twenty-fifth consecutive month with a decline in the year-on-year measurement.
The turf industry called for an urgent return to racing, without an audience and with due respect for health protocols, to ensure the survival of 80,000 jobs that depend on this activity. This “industry concentrates in five racetracks throughout the country: Palermo, San Isidro, La Plata, Tandil and Tucumán.
A report by the Agrifood Health and Quality Service (Senasa) highlighted that exports of meat, fruit and vegetables grew in the first half of the year between 14% and 20% year-on-year. Fruit exports had a jump of 22%, those of beef, poultry and pork products and by-products, increased 14% over the same period in 2019. Vegetable exports grew 15%.
Businesses in the construction sector are among those most affected by the paralysis imposed by the pandemic. So far this month, only 45% of works, both public and private, have been maintained in regular activity, and in June more than 80% of construction companies received no building contracts.
The local production of biosimilar drugs has a very high strategic value for Argentina, which is a pioneer in Latin America. Since the introduction of the first biosimilar in Argentina in 2014, the national health system has had a cumulative direct saving of $65.7 million in treatment costs. Through the substitution of high-cost biological drugs for products of equal quality, with prices between 15% and 25% lower, they allow more patients access to therapies for chronic diseases, such as cancer or autoimmune diseases. More than 35,000 patients have received such treatments, and the number is growing.
The global economic crisis and the pandemic affected the energy demand, however, generation increased by 51.1% year-on-year in April, while in the last 12 months it has accumulated growth of 105.8%. The increases by sector show the following numbers: Biogas 51.8%, biomass 14.7%, wind 172.1%, and solar 241.9%. Due to the historical descent of the Paraná and other rivers, hydraulic generation fell 5.3%.
Argentina’s agro-export chain has created a coalition that will promote a plan called “Strategy for an Inclusive, Sustainable and Federal Agro-Industrial Export Reactivation”; to increase exports from $65 to $100 billion between 2020-2030. It will generate more than 210,000 new jobs. The plan has the support of more than 40 entities, among which are Ciara-Cec, the milling industry, poultry producers and exporters, feedlots, wet milling of corn, peanuts, biofuels and the Buenos Aires Grain Exchange.
According to the report “Utilization of the installed capacity” disseminated by the INDEC, the industry worked at 46.4% in May. The data shows a slight increase concerning the historical floor registered in April, of 42%; but it also records a sharp contraction compared to the same month last year of 62%.