Argentina Trade Balance


Exports post new record high

In August, exports rose 29.6% over the same month last year, which was above the 22.3% expansion in July and marked the 17th consecutive month of double-digit growth. The August print confirmed the strength of the external sector. In August, the moving 3-month sum of exports reached USD 23.5 billion, which was above the USD 23.3 billion recorded in the previous month and marked a record high. A month-on-month comparison corroborated the positive annual result, as exports expanded 6.9% on a seasonally adjusted basis, which contrasted the 2.7% drop recorded in July. Meanwhile, imports grew 42.9% annually in August, up from the 29.7% expansion registered in July. As imports outpaced exports, the trade surplus narrowed from USD 672 million in July to USD 639 million in August, marking the lowest surplus since February.

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