Argentina: Exports moderate in November
December 21, 2011
In November, exports rose 17.2% over the same month the year before which was below the 27.9% expansion in October but nonetheless marked the 20th consecutive month of double-digit growth. A month-on-month comparison, however, pointed to a bleaker result compared to the annual figures, as exports contracted 6.0% on a seasonally adjusted basis, contrasting the 0.2% expansion recorded in October and, in fact, marking the largest drop since February 2010. Imports, meanwhile, grew 11.9% annually in November, down from the 27.4% expansion registered in October. As a result of the moderation in exports, the trade surplus narrowed from USD 1.2 billion in October to USD 0.7 billion in November.
Author: Armando Ciccarelli, Head of Data Solutions