According to data from the Central Bank, in the first half of this year, the sale of dollars for import grew 29% compared to the same period last year, for a total of US$35,372 million. The majority is explained by purchases from the energy sector. Although if the different sectors are analyzed, there were some that were able to access more foreign currency than the average, that is, they were winners in the fight for the scarce banknotes that the monetary entity has been managing.
Out of a total of 28 items of economic activity, there were only 9 that bought above 29%, 11 somewhat less than the average, although more than last year, 1 equal to the average, 5 less than in 2021 and 2 remained the same.. Of course, not everything can be explained by the restrictions that the monetary authority has been imposing. Probably some have worked less.
However, official data shows who is who on stage, especially after Between January and June, more than a thousand companies filed amparo claims before the Justice to be able to access the Single Free Exchange Market to buy foreign currency.
From the Government and the Central Bank it is emphasized that this year the level of imports is going to be a recordsomething that is true, but operations declared before Customs are mentioned, which are those reported by INDEC.
Restrictions to buy dollars
The restrictions imposed by the entity force companies to postpone part or all of the payments from a threshold of US$250,000. Up to that limit, access is free, as long as it does not exceed 5% of last year’s imports (15% for SMEs) or 70% compared to 2020. If it exceeds, they have to finance the payment within 180 days. There is a segment of the tariff universe that is linked to products that have Non-Automatic Licenses, which are equivalent to 17% of the total, which necessarily have to defer payments to six months.
There are companies in some sectors that as a whole are well above the average. In the case of Electricity, US$2,178 million were sold, with an increase of 185%% year-on-year, and in the case of Gas, US$105 million with a 176% increase. In Oil, sales of US$4,573 million were recorded, indicating a 117% increase compared to 2021.
In the first half of this year, the sale of dollars for imports grew 29%
Although the Gastronomy sector is not relevant in terms of quantities, since bought US$11 million, this represented an increase of 83.3% compared to last year.
Companies in the textile and leather sector were also above average. They had purchases of foreign currency for US$926 million, 40% more than in the first half of 2021. The paper industry registers purchases of dollars for US$710 million, with an improvement of 31.5% more than last year. And companies from the non-financial private sector registered imports for US$1,719 million, with an increase of 72%.
With much less relevance over the total, for the transportation category, US$154 million were sold, which marked a rise of 31.6% and for the sector of financial and foreign exchange entities US$78 million, with an increase of 290%. The computer industry, with US$101 million, increased its purchases by 29%.
Among those who were able to buy more than in 2021 but below average were: the field with 11.3% (US$197 million); food and beverages 13.6% (US$1,242 million); commerce, 28.5% (US$3,333 million), communications 8% (US$215 million) and entertainment 26% (US$19 million).
On the other hand, the chemical industry bought 18% more for US$5,249 million, which makes it another great foreign exchange earner. In machinery and equipment, 23% more was sold, for US$3,252 million, while in common metals 13.1% for US$1,955 million; mining, 16% for US$218 million, other industrial items, 28% for US$1,312 million and non-metallic minerals, linked to construction, 19.7% for US$43 million.
Among those that imported less is the construction sector, with 15.4% (US$97 million); water, 350% (US$2 million), the public sector 9.6% (US$385 million) and tourism and insurance with a decrease of 50% and 1 million dollars each.
From the Government and the Central Bank it is highlighted that this year the level of imports is going to be a record
Those that remained the same as in 2021 were Oilseeds and Cereals, with US$2.11 billion, and the automotive industrywhich this year had problems obtaining imported parts, with a total purchase of US$4,971 million.
At Customs, against protection
At Customs, the new administrator Guillermo Mitchell took literally the complaint made last month by Vice President Cristina Fernández, who denounced that there is an import festival.
In this sense, the official charged against more than a thousand importers by sending inspections to companies on site to control even the condition in which the workers are employed.
But so far, only one irregular maneuver could be discovered with Chinese masks triangulated in the United States for only 5 million dollars.
The traffic light of the BCRA
Among importers, they became widespread complaints against a Central Bank terminal that is in every bank that operates in foreign trade.
In it, the company that requests access to the Single Free Exchange Market must enter the data of its operation, and the system reports Red, Yellow or Green.
In the case of red, the company cannot buy, in yellow it has to make some corrections to its data and in green, it has free access. The companies complained that despite having their import declarations approved by Customs and the Secretary of Industry, the system frequently gave them red.