Argentina: Exports advance in October
November 21, 2013
In October, exports expanded 5.6% over the same month last year and reached USD 7.3 billion. The reading contrasted the 8.3% drop recorded in the same month last year. A month-on-month comparison corroborates the positive picture reported by the annual figures. Exports rose 3.4% on a seasonally-adjusted basis in October, which contrasted September's 1.8% drop and marked the first increase after two consecutive periods of contraction.
Meanwhile, imports grew 3.9% annually in October (October 2012: +0.2% year-on-year). As a result of the rebound in exports, the trade surplus widened to USD 710 million, up from USD 567 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