Argentina: Exports accelerate in September
October 22, 2013
In September, exports expanded 3.0% over the same month last year and reached USD 7.0 billion. The reading contrasted the 12.9% drop recorded in the same month last year. A month-on-month comparison paints a negative picture compared to the annual figures; exports contracted 2.0% on a seasonally-adjusted basis in September. The contraction was an improvement over August's 5.3% drop, but marked the second consecutive contraction.
Meanwhile, imports grew 4.1% annually in September (September 2012: -14.3% year-on-year). As imports outpaced exports, the trade surplus narrowed to USD 849 million, down from USD 888 million in the same month last year.
LatinFocus Consensus Forecast panelists expect that exports will expand 9.0% in 2013, pushing them to a record of USD 88.5 billion. For 2014, the panel expects exports to grow 3.7%.
Author: Armando Ciccarelli, Head of Data Solutions