Gross value added of agricultural crops in Argentina fell by 37% year-on-year

Argentina

Sustainability & Environmental Impact

Market & Price Trends

Published Oct 18, 2023

Tridge summary

Argentina's agricultural production has been severely affected by a devastating drought, resulting in a significant drop in the Gross Added Value (GVA) of agri-food chains. This has had a negative impact on the country's Gross Domestic Product (GDP), which recorded a drop of 1.86% in the first half of 2023, mainly attributed to the effects of the drought on the agricultural sector. The primary production sector, particularly agricultural crops, has been the most affected, with a decrease of 37% compared to the previous year.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Argentina faces a severe setback in the first half of the year due to the devastating drought that has affected agricultural production. According to data from the National Institute of Statistics and Censuses (INDEC) surveyed by the Rosario Stock Exchange (BCR), the Gross Added Value (GVA) of agri-food chains has experienced a significant drop, which has had a negative impact on the Gross Domestic Product (GDP) of the country. In the first half of 2023, the GVA of agri-food chains plummeted by 14% compared to the same period of the previous year. This decrease is the steepest since 2009 for that period, demonstrating the magnitude of the drought's impact on the country's economy. Argentine GDP in the first six months of 2023 recorded a drop of 1.86%, and this decrease is attributed practically entirely to the effects of the drought that has devastated the agricultural sector. The other sectors of the economy experienced growth of 1.8% in the same period, underscoring the ...

Source: Chacra Magazine