Antioquia would be the department that most benefited from the expensive dollar, why?

Antioch it could be one of the regions that benefits from the historically expensive dollar. In the trading session this Friday, the currency finished at an average of $4,395 and adjusted the third session lower after the rally registered since the end of June in which it reached a peak of $4,625.

the accounts of remittances and exports indicate that the department is part of the territories that receive the most foreign currency. Therefore, according to analysts, in the midst of the exchange rate shock, the local economy could perceive a positive effect.

It is necessary to begin by reviewing the item of exports. In 2021, Colombia reached foreign sales of US$41,223 million. And taking out the oil and its derivatives, Antioquia was the department that sold the most to international partners with shipments totaling US$6,819 million. Behind, Bogotá was located with sales of US$3,326 million.

This year, andBetween January and May, exports for US$2,885 million have been dispatched from Antioquia territory and continues to lead the table. Bogotá follows with shipments for US$1,756 million. This allows us to infer that, indeed, the flow of dollars in this department is higher compared to other regions.

By the side of the remittances —money that Colombians send from abroad— with a cut to the first quarter of this year, the country received a figure of US$2,046 million and, of that amount, Antioquia received US$680 million, second only to Cauca’s Valley, where did they arrive US$1,019 million.

Recently, Javier Díaz Molina, president of the National Association of Foreign Trade (Analdex), told EL COLOMBIANO that people who receive salaries and remittances in dollars they are part of the group of those who are benefiting from the dearth of the dollar; since they get a better return by making the change. Likewise, he pointed out that “exporters will receive more pesos for each dollar exported.”

However, the counterpart of the situation has to do with theimported goods and products, whose price will rise because they must be paid with dollars and this would have a direct impact on the final consumer. The transmission of the increase is expected to be progressive and will be felt, mainly, in household appliances, technology and food.

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