Total volume exported increased 8.6% in May of 2024

In May of 2024, the total volume exported of goods increased 8.6%, compared to the same month of 2023, according to the technical report Evolution of Exports and Imports prepared by the National Institute of Statistics and Informatics (INEI). This result was explained by the greater shipments of traditional (10.7%) and non-traditional (2.9%) products.

The positive result of the exported volume of traditional products (10.7%) was based by the greater shipments of minerals (7.9%), such as gold (39.2%), lead (99.1%), tin (20.3%), iron (163.9%) and refined silver (12.0%). Similar behavior registered the shipments of oil and natural gas (16.2%) reflected in the shipments of natural gas (38.3%) and crude oil (89.9%), as well as the fishing products that increased in 600.5% by the shipments of fishmeal (1,071.7%) and fish oil (27.1%).

In the period January-May of 2024, the total volume of FOB export showed a variation of 2.1% compared to the same period of the last year, due the growth of the commercial transactions of traditional products in 5.0%, driven by the favorable behavior of metals such as gold, lead, tin, iron and refined silver, as well as coffee.

Nevertheless, the non-traditional exports decreased in 4.6% associated with the lower shipments of fishing, non-metallic mining, metal-mechanic, textile and agriculture products.

The INEI informed that during May of 2024 the export volume of non-traditional products grew 2.9%, compared with the same month of the last year, driven by the agricultural (5.2%), textile (20.9%), chemical (16.6%), metal-mechanic (13.3%) and iron and steel industries (6.5%) sectors.

During the month under study, were reported greater shipments of raw cacao (379.9%), baked goods, with added sugar (20.2%) and paprika (19.1%). Also, it increased the shipments of cotton T-shirts (35.0%) and knit shirts of synthetic fibre (63.0%).

Likewise, it increased the transactions of polymer plates of polypropylene (76.5%), zinc oxide (26.0%) and sulfuric acid (16.8%) in the chemical sector. In the increase of exports of the metal-mechanic sector outstood the sale of core drilling machines, self-propelled (353.6%) machines and oil power generators, of alternating current, higher power than 375 kVA (205.3%).

In the iron and Steel sector reported a greater commercialization of refined copper wire (39.8%).

The volume imported slightly grew in 0.1%, due to the greater purchases of raw materials and intermediate products (3.9%), and capital goods and construction materials (0.2%).

Likewise, from January to May of 2024, the volume imported positively changed by 5.5% compared to the same period of the last year, due to the greater income of raw materials and intermediate products for the industry (8.6%), non-durable consumption goods (8.8%), and capital goods for the industry (4.5%).

During May of the year 2024, the volume imported of raw material and intermediate products registered a progress of 3.9%. This result was based in the greater shipments of raw materials and intermediate products for agriculture (47.2%), as well as for the industry (9.4%).

The growth in the imports of raw materials and intermediate products for agriculture explained by the greater demand of oil-cakes and solid waste of the extraction of soybean oil (5.8%) and preparations used for feeding of animals (24.4%), among the main ones.

In addition, outstood the purchase of hard wheat other than for sowing (51.6%), polypropylene in primary forms (83.1%), hard yellow corn (61.8%), soybean crude oil (199.8%), as well as other resins (20.1%) in the raw materials and intermediate products for the industry.

On the other hand, fuels, lubricants and allied products decreased in 11.2% due to the effect of the lower purchase of foreign products, such as crude oil (-30.2%) and gasoline lead tetra-ethylene free for automobile with higher octane or equal to 90 but lower than 95 (-61.2%).

The INEI informed that the imported volume of capital goods and construction materials slightly increased in 0.2%, due mainly to the positive result of the construction materials (18.5%). It outstood the unalloyed iron or steel bars without indentations or ribs (282.3%), tubes and hollow sections of square or rectangular section (54.3%); as well as iron or steel sheets, bars, profiles, tubes and similar products for construction (137.2%).

The imports of capital goods for agriculture increased in 6.2%. Among the products most demanded were the cleaning machines or classification of fruits (229.1%), as well as troughs and automatic feeders (616.6%).

On the hand, it decreased the imported volumes of capital goods for the industry (-1.0%) and transportation equipment (-3.4%). Among the goods for the industry were reduced the purchases of machines for data processing of inferior or equal weight to 10 kg (-17.9%), telecommunications devices by carrier current or digital telecommunications (-2.4%), as well as parts of devices for reception, conversion and transmission or regeneration of voice, image or others (-9.1%). Similar behaviors reported transportation equipment, in particular the pick-up trucks assembled (-21.6%) and trucks for cargo transportation (-39.2%).

In 8.1% reduced the purchase of consumption goods

The import of consumer durables decreased by 8.1%, due to the contraction in purchases of goods of consumer durable goods (-17.9%), in special the car assembly (-28.4%), televisions (-27.5%), automobiles with piston engine of free range 4x4 (-23.7%), combined refrigerator and freezer with separated superior doors (-12.7%) and plastic manufactures (-4.3%).

Nevertheless, it increased the shipments of non-durable consumer goods (0.1%), such as medicines for human use (0.1%), other footwear (12.6%) and beauty, make-up and skin care preparations (2.9%). In the other hand, the purchase of milk and concentrated cream in powder, granulated or solid (-29.3%), as well as coats and similar articles of synthetic or artificial fiber (-4.3%), among others.