In January, exports contracted 7.7% over the same month last year and fell to USD 5.2 billion. The reading contrasted the 0.7% expansion recorded in the same month last year and represented the fourth consecutive drop in exports. The reading was underpinned by a 58.0% drop in grain exports, as farmers hoarded grains and soybeans to hedge against the devaluation of the peso that occurred at the end of the month. That said, a month-on-month comparison paints a more positive picture than the one reported in the annual figures. Exports expanded 6.5% on a seasonally-adjusted basis in January, which represented a partial recovery from the 16.7% drop recorded in December. Imports dropped 3.5% annually in January (January 2012: +0.5% year-on-year). Amid the continued deterioration in exports, the trade surplus narrowed to USD 35 million, which was just a fraction of the USD 280 million recorded in January 2013 and marked the smallest surplus since March 2001. LatinFocus Consensus Forecast panelists expect that exports will expand 1.6% in 2014, pushing them to USD 85.5 billion. For 2015, the panel expects exports to grow 2.8%.
Argentina Trade Balance
Trade surplus narrows to 13-year low as farmers shut down grain exports
February 21, 2014
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Argentina Trade Balance Chart
Argentina Economic News
October 4, 2016
At its weekly meeting on 4 October, the Central Bank of the Argentine Republic (BCRA) decided to keep the 35-day Lebac interest rate unchanged at 26.75%, matching the previous week’s decision.
September 30, 2016
In August, industrial production contracted 5.7% over the same month of the previous year, according to the latest data released by the National Statistical Institute (INDEC).
September 28, 2016
In August, exports expanded 12.0% over the same month last year, which contrasted the 10.8% decrease seen in July and marked the highest reading since May 2013.
September 28, 2016
In July, the monthly indicator for economic activity (EMAE, Estimador Mensual de Actividad Económica) declined 5.9% year-on-year, which was below the 4.7% fall in June and represented the steepest contraction since July 2009.
September 26, 2016
In August, consumer prices in the greater Buenos Aires capital area increased 0.2% over the previous month, according to recent data published by the National Statistics Institute (INDEC).