Thursday, April 30, 2015

India's exports to Argentina decrease by 19% in 2014

India's exports to Argentina in 2014 were 560 million dollars, down by 19%, from 696 million in 2013. This is not surprising given the difficult economic situation of Argentina which has number of restrictions on imports due to foreign exchange shortage.

India's imports increased by 32% reaching 1846 m from 1105 m in 2013. This is due to the increase in imports of soy oil by India which were 1560 million dollars in 2014. The imports of Soy oil are likely to increase in the future in view of the growing gap between demand and supply of vegetable oils in India.

The good news in 2014 was the lifting of restrictions on Indian pharmaceuticals by the Argentine government which was earlier held to ransom by the local pharma industry lobby.

The Argentine economy is expected to improve after the end of the government of President Cristina this year.

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