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Exports this second quarter reached a record 9,515 million dollars, the highest figure in one quarter, which compared to that of the same period last year, represents a 32.9% rise. The increase was basically in oil exports, a result of an improvement in the international prices(37.7%), and of an increase in external sales different from oil(37.3%), mostly in chemicals, iron and steel, plastics, aluminum, motor vehicles, food and drinks.

Imports this quarter were 3,928 million U$, an 88.7% increase compared to the same quarter last year, which reflects the registered growth in economic activity. This rate of imports, 7,168 million U$ for the first semester, projects a final yearly balance over the 10,341 million U$ figure of 2003.

As a consequence of the favorable 23.1% behavior in the economy for this year’s first semester, the other macroeconomic variables have improved accordingly. The results of this last quarter derived from a 224 million U$ surplus in the balance of trade; international reserves were at 23,132 million U$, of which 704 million U$ belong to the Macroeconomic Stabilization Fund (FEM).

Published in Quantum No 29