Brazil gold exports

Argentina: Mining increases exports by 24.1% year-on-year

Aug, 31, 2023 Posted by Gabriel Malheiros

Week 202335

In July of last year, Argentina‘s mining industry exports reached $377 million, marking a year-on-year increase of 24.1%.

These figures come from a report by the Ministry of Mines that highlights the growth trend that characterized the first seven months of the year, accumulating external sales from a sector responsible for generating $2.321 billion.

These numbers have a significant impact on Argentina’s export context, as mineral product exports contributed 6.8% of the country’s total exports in July and 6% for the year-to-date. It’s important to emphasize that the accumulated total for 2023 is an impressive 11.7% above the average level recorded between 2010 and 2022 during the same period.

This performance is based on the fact that mining exports reached their highest point since 2012 in the first seven months of the year, recording revenues of $2.419 billion during this specific period.

Breaking down the July data, it is observed that out of the exported amount, $290 million corresponded to metallic minerals, indicating a surprising increase of 47.5%. This category of products represented 76.9% of the total mining exports for the month, where gold played a crucial role by contributing $234 million (equivalent to 62% of the total exported), while silver added up to $52 million (constituting 14% of the total exported). The remaining $4 million (1% of the total) primarily came from other metallic minerals such as zinc.

Source: Ámbito

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