Volume imported of raw material and intermediate products grew 2.5% in March of 2024

During March of 2024, the volume imported of raw material and intermediate products increased in 2.5%, compared to the same month of the last year, before the greater demand of fuels, lubricants and allied products (21.2%). This was informed by the National Institute of Statistics and Informatics (INEI) in the technical report Evolution of Exports and Imports.

It was registered a greater domestic consumption of crude oil (29.9%), diesel B5 (55.5%) and jet fuels such as kerosene for reactors and turbines (86.7%).

Meanwhile, it was observed a lower volume imported of raw materials and intermediate products for agriculture (-26.0%), before the lower transactions of oil cakes and solid waste of soybean oil (-47.1%) and ammonium sulphate (-14.0%).

In addition, the imports of raw materials and intermediate products for the industry contracted in 3.2% mainly due to the lower purchase of hard yellow corn (-25.3%), polyethene of high density (-4.4%), laminated or hot-extruded steel rods (-46.4%) and polyethene of low density (-11.9%).

The INEI informed that the import of consumption goods was higher in 3.6% compared with March of the year 2023, driven by the greater purchases of non-durable goods (7.3%). The purchase of medicines for human use (7.6%), besides of other footwear (98.0%), coats, overcoats and similar articles of synthetic or artificial fibers (7.4%) and shampoos (45.2%).

On the other hand, the volume imported of consumer durable goods decreased (-1.8%) and registered five months in a row of unfavorable behavior. Among the products with lower demand were: automobiles (-19.9%), televisions (-19.6%), motorcycles (-24.4%), among others.

During the month under study, the volume imported of capital goods and construction materials decreased in 8.7%, explained by the lower purchases of the heading of capital goods for industry (-13.3%) associated to the setback in the commerce of smart phones (-24.1%), machines for data processing of weight lower or equal to 10 Kg (-26.1%), parts of machines to classify, grind, earth and stone or solid mineral tierra (-15.6%).

Likewise, the purchase of capital goods for agriculture decreased in 14.1% due to the lower acquisition of crawler tractor of power greater than 37 kW and lower than or equal to 75 kW (-20.0%), as well as those of power greater than 75 kW and lower than or equal to 130 kW (-65.9%).

Nevertheless, the import of construction materials increased in 3.6%, due to the greater purchase of iron or non-alloy steel bar with indentations and ribs (116.1%), tubes and welded hollow sections of square or rectangular section (214.2%), as well as construction and its parts of iron and steel casting (85.0%).

At the same time, the import of transportation equipment slightly increased in 0.1% due to the greater requirement of dumper trucks for using out of the road network (327.4%) and buses (149.4%).

During March of 2024, the imports decreased in 0.7% compared to the same month of the last year. On the other hand, during the first quarter of 2024, the volume imported grew in 5.1%, due to the income of capital goods for industry (4.4%), raw materials and intermediate products for industry (7.3%), fuels, lubricants and allied products combustibles (3.8%), and non-durable consumption goods (10.0%).

The INEI informed that during March of 2024, the total export volume of goods decreased 7.4%, compared with the same month of 2023, due to the lower shipments of traditional (-6.2%) and non-traditional (-10.4%) products.

The export volume of traditional products decreased in 6.2%, compared to the same month of the last year. This result was based in the lower shipments of minerals (-2.3%), oil and natural gas (-18.8%) and fishing products (-57.2%). Among the mining products that showed an unfavorable behavior were: copper (-10.1%) and iron (-21.8%). Nevertheless, the export of gold (28.5%), zinc (8.0%), lead (4.1%) and molybdenum (27.1%) increased.

In addition, the exports of oil and gas decreased in 18.8% as a result of the lower volumes shipped of oil derivates (-8.8%) and of natural gas (-33.4%). Among the fishing traditional products that showed the same trend were the flour (-56.1%) and fish oil (-66.0%).

During the month under study, the volume exported of non-traditional products contracted in 10.4%, compared to the same month of the last year; due to negative evolution of fishing, metal-mechanic, textile, agriculture and non-metallic mining sectors.

In the downward behavior in the volumes exported of the fishing sector (-54.8%) influenced the lower sales of mussels, scallops, frozen (-72.4%), whole frozen shrimps (-56.5%) and livers and roes (-55.5%).

The shipments of metal-mechanic sector registered a negative variation of 30.0%, due to the retreat in the volume exported of machine parts for classifying, grinding, earth and solid mineral (-24.7%) and electric accumulators (-8.5%).

The textile sector decreased in 14.3%, based in the lower demand of cotton T-shirts (-0.9%), cotton knit shirts (-51.2%), as well as T-shirts and other textile material shirts (-30.9%).

Finally, the volumes exported of agricultural sector decreased in 2.3%, explained by the lower sale of mangos and mangosteens (-23.8%), fresh grapes (-58.5%) and fresh fruits (-11.3%).