Argentina Trade Balance May 2022


Argentina: Merchandise exports decelerate in May

June 29, 2022

Merchandise exports rose 20.7% over the same month last year in May (April: +35.7% year-on-year). Meanwhile, merchandise imports shot up 53.1% in annual terms in May (April: +47.3% yoy).

As a result, the merchandise trade balance shrank from the previous month, recording a USD 0.4 billion surplus in May (April 2022: USD 1.5 billion surplus; May 2021: USD 1.7 billion surplus). Lastly, the trend was stable, with the 12-month trailing merchandise trade balance recording a USD 12.3 billion surplus in May, compared to the USD 13.6 billion surplus in April.

Panelists participating in the LatinFocus Consensus Forecast expect merchandise exports to increase 0.1% in 2022 and merchandise imports to expand 3.8%, pushing the trade balance to a USD 12.2 billion surplus. For 2023, the panel expects merchandise exports to increase 4.4% and merchandise imports to grow 7.2%, with a trade surplus of USD 11.1 billion.

Author: Massimo Bassetti, Senior Economist

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Argentina Trade Balance Chart

Argentina Trade12m May 2022 0

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.

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