Food prices rose 1.3% in the first days of April, after having registered a rise of around 4% in March. It adds to a weekly rate of increase of approximately 1.1% in an almost persistent manner in the last six weeks.
Government projects exports of $70 bn in 2021
The rise in international commodity prices has led to a reconfiguration of the analysis, and now the government anticipates foreign sales of $70 billion in 2021, an increase of 30% year-on-year. They also expect that the upturn will continue during 2022.
Sancor Seguros invested $2 million in an agrotech
Agree is an Argentine agrotech that seeks to streamline and empower the agri-food community. The Argentine company, founded in 2017, is dedicated to providing technology solutions to accelerate the digital transformation of agribusiness and received a $2 million contribution from Sancor Seguros as the closing of its Series A investment round.
Foreign currency income from the soybean complex will exceed $20 bn this year
Exports of the soybean complex will exceed $20 billion for the first time this year, a new record, according to a report by the Rosario Stock Exchange. The entity estimated that foreign sales of flour, oil and beans would be around $20.42 billion.
Public debt grew 14.2% in 2020 concerning GDP and approached 103.7%
During the last year, the level of public debt increased concerning the Gross Domestic Product. The Argentine State experienced a 14.2% year-on-year increase in public debt to GDP. The ratio reached its highest level since 2004 and reached 103.7%.
The use of electronic money in all its variants grew by 9.1%
One year after the coronavirus pandemic outbreak, Argentines are already in the habit of using their money digitally through the multiple channel options made available by the financial system. The use of electronic money increased 43% in the number of transactions adjusted for inflation, while the use of all channels as a whole increased by 9.1% compared to a year earlier.
The industry grew by 1.6%
Industrial production recorded a 1.6% increase in February compared to the same period in 2020 and completed a positive streak of four consecutive months. The manufacturing sector is already operating 3% above pre-pandemic levels.
Construction improved 22.7% year-over-year
The recovery in construction continued at a steady pace in February, when it recorded its third consecutive increase of over 20% year-on-year. The Synthetic Indicator of Construction Activity (ISAC) increased 22.7% year-on-year, according to the INDEC, thus registering its fourth consecutive increase after twenty-six months of decline.
Due to low yields, soybean harvest estimated at 43 million tons
The results at harvest are below expected yields and even below historical averages. The production projection was adjusted to 43 million tons, one million tons less than the last publication and two million tons less than expected. Compared to the previous season, the decline is even more pronounced. In the 2019/20 cycle, Argentina produced 49 million tons, 12% more.
The tax burden increased in 2020 and reached 32%
Statistics support the feeling that more and more taxes are paid in Argentina. Tax pressure (the percentage of tax collection over GDP), rose from 28.8% in 2019 to 32% in 2020, according to official data that take into account the Nation, provinces and municipalities.
