report on trade on goods with the european unioneceur.cancilleria.gov.ar/userfiles/sep...
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Report on trade on goods with the European Union
Third Quarter 2015
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Summary
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Bilateral Trade
• Exchanges reached US$ 13.9 bi in the first nine month of 2015, that is 20,3% less than in the same periodof 2014.
• Argentine exports (FOB) amounted to US$ 6,22 bi, a fall of 8% in comparison with January-September 2014. Imports from EU dropped by 12% to US$ 7,75 bi.
• Performance of Argentinian sales was hindered by falling commodity prices. Reduced imports of fuels (-461 millions of US$), and a weaker demand of machinery (-183 millions of US$) explained poorperformance of european flows to our country.
Bilateral trade performancein U$S millions
Source: Mission of Argentina to the EU on DNCEI database
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Resumen Ejecutivo
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Argentinian exports
Fall of commodity prices, in particular soybean and copper negatively impacted trade values. Sales ofsoybean meal dropped from 2.9 US$ bi to 2.5 US$ bi. Copper exports fell from 484 to only 243 US$millions. On the silver side, sales of utility vehicles jumped from 18 to 135 US$ millions, albeit stillbelow 2012 figures. Processed peanuts (+45 US$ millions) and olive oil (+43 US$ millions) exports alsoshowed a strong performance .
Agriculture based manufactures accounted for 66% of argentinian exports, folloed by raw materials(21%). Industrial goods accounted for just 13%.
Soybean meal accounted for 47% of total exports to the EU. Beef represented 4,3% and copperanother 3,9%.
Imports from Europe
Overall negative performance of EU28 exports to Argentina is explained by changes in sales of fuels,consumer goods and vehicles. Imports of capital goods, parts and accessories and inputs alsodecreased, but beneffited from a much less volatile demand.
Most relevant items imported were diesel engines for vehicles (166 US$ millions), Liquified Gas (165US$ millions) y Gas oil (162 US$ millions).
Summary
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Resumen Ejecutivo
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• From 2011 onwards exports to EU market dropped significantly.
• The anti dumping measure againts argentinian and indonesian biodiesel stablished in January 2013and weaker commodity prices explain more than 2/3 of fall of our exports. Supply side problems(beef), climatic events (fruits) and competitiviness related limitations (transport equipment) had alsoan important role in the poor performance of our exports.
Performance of Argentinian exports to EU 28January 2011 to September 2015, in US$ millions
Source: Mission of Argentina to the EU on DNCEI database
Chemicals
Fisheries
Fruits
Meat
Transport Equipment
Minerals
Vegetable Oils
Soybean meal
Biodiesel
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EXPORTS TO THE EU 28 US$ Millions
Exports to the EU 28 : Trends by sector
Source: Mission of Argentina to the EU on DNCEI database
PAPs Manufactured Raw materials Fuels/Energy
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Millions of US$
Processed agricultural products
Soybean meal Fats& Oils OthersMeats
Source: Mission of Argentina to the EU on DNCEI database
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Industrial goods
Millions of US$
ChemicalsBiodiesel Transport equipment Others
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Trade was totally interrupted after Commission decision to put in place a definitive anti dumping measure inJanuary 2013. The same year Argentina request a panel under the WTO Dispute Settlement Understanding. Thefinal report on the case (DS 473) is still pending.
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Exports in U$ millions and tons.
Biodiesel
Source: Mission of Argentina to the EU on DNCEI database
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Raw materials
Millions of US$
Source: Mission of Argentina to the EU on DNCEI database
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SINTESIS: CONTRIBUCION NETA AL DESEMPEÑO DE LAS EXPORTACIONES:
US$ millions 2014/2015 nine months
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Net impact on exports performance, selected groups of products
Source: Mission of Argentina to the EU on DNCEI database
Transport Equipment
Cereals
Chemicals
Seeds
Fruits
Fisheries
Food
Meat
Minerals
Meals
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10 PRINCIPALES PRODUCTOS EXPORTADOS DE ENERO A MARZO:
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Code Name US$ thousands FOB %
23040010 Soybean meal 2.599.350 41,7
02013000 Fresh or chilled deboned bovine meat 269.838 4,3
26030090 Copper 243.880 3,9
03061710 Frozen shrimps and prawns 239.389 3,8
20081100 Processed or canned peanuts 191.463 3,1
23025000 Bran, sharps and other residues from leguminous plants 135.544 2,2
87042190 Utiliy vehicles, diesel engines 135.197 2,2
22042100 Wine 125.834 2,0
08055000 Lemmons 121.931 2,0
12024200 Unprocessed Peanuts 100.506 1,6
Ten products 4.162.933 66,8
TOTAL 6.231.651 100,0
Ten most important goods exported from January to September 2015. Ranked byexport value in US$ thousands FOB
Source: Mission of Argentina to the EU on DNCEI database
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Imports from EU28: trends by sector
Source: Mission of Argentina to the EU on DNCEI database
Millions of US$
Capital GoodsParts and accessoriesFuels
Intermediate goodsConsumers goodsVehicles
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Intermediate goods
Source: Mission of Argentina to the EU on DNCEI database
Millions of US$
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Capital goods
Source: Mission of Argentina to the EU on DNCEI database
Millions of US$
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Consumers goods
Consumers goods Vehicles
Source: Mission of Argentina to the EU on DNCEI database
Millions of US$
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Code NameThousand of US$
CIF %1 84082020 Diesel engines for motor vehicles 166.154 2,12 27111100 Liquified natural gas 165.962 2,13 27101921 Gas oil 162.137 2,1
4 30021039 Blood fractions and inmunological products 149.945 1,9
5 88024090 Jet planes 147.633 1,9
6 87082999 Parts and accessories for motor vehicles 145.872 1,97 84119900 Parts for gas turbines 125.168 1,68 30049069 Medicaments for retail sale 101.017 1,3
9 87089990 Parts and accessories for motor vehicules not included in otherclasses
87.429 1,1
10 30043929 Medicaments with hormones for retail sale 65.683 0,8
Ten Products 1.317.000 17,0
TOTAL 7.760.781 100,0
Ten most relevant imported products, ranked by value in US$ thousands.January-september 2015
Source: Mission of Argentina to the EU on DNCEI database
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Trade and Economics Sector/ november 2015José María Arbilla/Ramiro Velloso/Eduardo Salvador