Argentina Trade August 2016


Exports rebound strongly in August

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. August’s improvement reflected sharp increases in exports of primary products. On a monthly basis, exports increased 10.4% in seasonally-adjusted terms, which contrasted the 1.1% drop observed in the previous month.

Imports contracted 7.1% annually in August. This was a softer decrease than the 17.3% drop in July, which had marked a 17-month low. The trade surplus totaled USD 0.71 billion in August, marking an improvement over the USD 0.30 billion shortfall recorded in August 2015. In the 12 months up to August, the trade balance posted an accumulated deficit of USD 0.6 billion, which was an improvement over the USD 1.6 billion deficit recorded in the 12 months up to July.

Panelists participating in the LatinFocus Consensus Forecast expect exports to drop 3.4% in 2016, imports to contract by 2.7% and the trade surplus to be USD 0.6 billion. For 2017, the panel expects exports to increase 7.8% and imports to expand 9.2%, with the trade surplus narrowing to USD 0.2 billion.

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Argentina Trade Chart

Argentina Trade12m August 2016

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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