Argentina: Merchandise exports accelerate in February
Merchandise exports soared 34.9% over the same month last year in February (January: +12.9% year-on-year). The print was driven by skyrocketing foreign sales of primary products and energy as well as by a strong expansion in exports of industrial goods. In terms of export markets, February’s print mainly resulted from surging overseas shipments to Chile, China, the Netherlands and the U.S. Meanwhile, merchandise imports shot up 51.7% in annual terms in February (January: +36.6% yoy).
As a result, the merchandise trade balance improved from the previous month, recording a USD 0.8 billion surplus in February (January 2022: USD 0.3 billion surplus; February 2021: USD 1.1 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 13.7 billion surplus in February, compared to the USD 14.0 billion surplus in January.