Argentina: Merchandise exports continue to grow strongly in September
October 22, 2021
Merchandise exports soared 59.8% over the same month last year in September, following August’s 63.5% jump. The print again reflected a low base effect and was driven by skyrocketing foreign sales of energy and primary products as well as by strong expansions in exports of industrial and agricultural goods. In terms of export markets, May’s print mainly resulted from surging overseas shipments to Brazil, Chile, China, India and the U.S. Meanwhile, merchandise imports climbed 42.6% in annual terms in September (August: +64.0% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.7 billion surplus in September (August 2021: USD 2.3 billion surplus; September 2020: USD 0.6 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 13.0 billion surplus in September, compared to the USD 11.9 billion surplus in August.