Argentina: Exports post fourth consecutive contraction
December 21, 2012
In November, exports contracted 2.0% over the same month the previous year, marking the fourth consecutive monthly fall. The contraction, nonetheless, represents an improvement over the 7.6% drop tallied in October. As a result of the monthly reading, in the 12 months up to November, exports declined 1.9% over the same period the previous year (October: -1.0% year-on-year).
Imports, meanwhile, dropped 6.4% annually in November, which contrasted October's 0.1% rise. As a result of the November drop, the moving 12-month sum of imports dropped 5.9% in annual terms (October: -4.5% yoy).
The trade balance registered a surplus of USD 634 million in November. As a result, the 12-month moving sum of the trade balance rose from a USD 12.2 billion surplus in October to a USD 12.5 billion surplus.
Author: Armando Ciccarelli, Head of Data Solutions