Argentina Trade Balance


Exports expand at strongest pace in more than a year

In April, exports expanded 12.7% over the same month last year, which contrasted the 3.7% fall tallied in March and marked the largest rise since December 2011. The improvement reflects stronger soy and corn exports, as production of the two commodities rebounded this year after a drought negatively affected harvests in 2012.

As a result, in the 12 months up to April, exports declined 3.8% over the corresponding period last year, which, nevertheless, marks an improvement compared to the 5.3% drop recorded in March.

Meanwhile, imports rose a whopping 32.0% in April (March: +5.0% year-on-year), which represents the largest increase since August 2011. As a result, in the 12 months up to April, imports stepped up to a 3.7% contraction, up from the 6.8% drop seen in the 12 months up March.

Finally, the trade balance registered a surplus of USD 1.2 billion in April, which drove the 12-month moving sum of the trade balance to USD 10.5 billion, down from USD 11.2 billion in March.

LatinFocus Consensus Forecast panellists expect that exports will expand 9.0% in 2013, pushing them to a record of USD 88.5 billion. For 2014, the panel expects exports to grow 3.7%.

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Argentina Trade Balance Chart

Argentina Trade12m April 2013

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