28 January 2004

MADRID – Spanish exports to Argentina rose to EUR 294.6 million (USD 371.2m) during the first three quarters of 2003, an increase of 18 percent compared to the same period the previous year, business leaders said Wednesday.

The data, released Wednesday, confirmed an end to the negative trend of Spanish exports to Argentina that began in 2001 — when sales fell 21 percent — and which continued through the following year when exports dropped nearly 60 percent.

Meanwhile, Argentina’s exports to Spain between January and October of 2003 was EUR1.1 billion ($1.4)bn, a fall of 4.2 percent from the same period a year earlier, when sales to Spain increased by 14 percent after a rise of 8.0 percent in 2001.

By sectors, Spain’s main exports to Argentina recorded during the first three quarters of 2003 were cars EUR 59 million(USD 74.4m), boilers and machinery EUR35.4 million (USD 44.7m) and organic chemical products EUR 21.58 million (USD 27.2m).

Spain’s purchases from Argentina were mainly prepared foods for animals EUR 365 million (USD 459.9m) and fish and shellfish EUR 324 million (USD 409m).

Spanish investments in Argentina fell during the first semester of 2003 to EUR 380.8 million (USD 474.9m), a drop of 60 percent from the same period in 2002.

[Copyright EFE with Expatica]

Subject: Spanish news