25 mayo, 2024

Germany, fourth trading partner of Argentina and with balance in its favor.

President Mauricio Macri will receive German Chancellor Angela Merkel on his first official visit to the country on Thursday to re-launch bilateral relations and advance the transfer of the pro-tempore presidency of the G-20 To Argentina from 2018.

The German leader will arrive at noon at the Casa Rosada, where she will be received with all honors in charge of the Gral San Martin Regiment of Grenadiers a Caballo, a presidential escort unit, to hold a meeting with the head of state and then Make a joint statement to the media in the White Hall.

According to data provided by the Argentine Chamber of Commerce and Services (CAC), bilateral trade between the two countries was US $ 4.325 million in 2016, which represented 3.8% of Argentine foreign trade. Germany ranked as the fourth trading partner of our country last year, behind Brazil, China and the United States.

On the Argentine exports side, exports to Germany totaled U.S. $ 1272 million in 2016. This represented a decrease of 5% over the previous year. The main item exported was «Live animals and products of the animal kingdom» with a share of 26% of the total exported to Germany in 2016. «Products of the food, beverage and tobacco industries» and «Mineral products», represented 19% and 14% respectively.

On the other hand, Argentine imports from Germany were US $ 3,053 million in 2016, being 2.5% lower than those registered in 2015. The heading of imports was «Machinery and apparatus, electrical equipment and parts» with 37%. In second place was located «Products of the chemical industries» with 26%, and «Material of transport» completed the podium with 15% of the imports from Germany in 2016.

In this way, the bilateral trade balance with Germany showed a deficit for our country of US $ 1.781 billion during 2016, 0.5% less than the previous period.

During the first four months of 2017, Argentine exports to Germany amounted to US $ 348 million, 24.9% lower than those of the same period of 2016. Meanwhile, Argentine imports from Germany amounted to US $ 955 million during the first quarter of 2017, an increase of 0.1% compared to 2016. In this way, the trade deficit for the first four months of the year increased by 23.6% to reach US $ 608 million.

On the other hand, Germany is the tenth origin of Foreign Direct Investment (FDI) in our country, with a stock of u$s 2,315 million, according to the latest information available.

Official relations between Germany and Argentina began in 1857 and have a deep foundation in economics, culture and, at the same time, similar criteria in many global and multilateral issues.

 

The German economy is based on small and medium-sized enterprises, characterized by their high degree of innovation, which provide 70% of jobs.

In addition, according to data from the Argentine Chamber of Commerce, the European country is the world leader in exports of motor vehicles, machinery, chemicals and pharmaceuticals.

 

Merkel arrives in the country at a time when Argentine exports to Germany fell almost 25%.

German Chancellor Angela Merkel will meet tomorrow with President Mauricio Macri as part of his official visit to the country, at a time when Argentinas exports to the European nation have plummeted.

Germany became Argentinas fourth trading partner during 2016, with bilateral trade amounting to US $ 4.325 billion, which represented 3.8% of national foreign trade.

This was reported on Tuesday by the Argentine Chamber of Commerce and Services (CAC), which warned that in the first quarter of the year, domestic exports to Germany fell 24.9%.

In this context, Macri will receive Merkel this Thursday, with whom she will begin to discuss the transfer of the Pro Tempore Presidency of the Group of 20 (G20) to Argentina in 2018, as well as discuss bilateral trade issues.

LaCAC said in a press release that «Germany ranked as the fourth largest trading partner of our country in 2016, behind Brazil, China and the United States» and added that «the share of bilateral trade in total foreign trade Argentina was 3.8%. »

 

The entity warned, in this regard, that «during the first four months of 2017 Argentine exports to Germany were 348 million dollars, 24.9% lower than those of the same period of 2016.»

«Meanwhile, Argentine imports from Germany amounted to 955 million dollars during the first four months of 2017, an increase of 0.1% compared to 2016,» the CAC said in its press report.

«In this way the trade deficit of the first four months of the year increased 23.6% and reached 608 million dollars,» warned the entity.

Meanwhile, Germany is the tenth origin of Foreign Direct Investment (FDI) in Argentina, with a stock of US $ 2,315 million, according to the latest available information – 2015.

The United States leads that payroll, with US $ 19.8 billion; Ahead of Spain, with US $ 13,145 million; Holland, with US $ 8,523 million; Brazil, with US $ 5,253 million, and Chile, with US $ 4.065 million.

 

 

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