Argentina: Exports recover in July
August 22, 2012
In July, exports rose 1.1% over the same month last year, contrasting the 10.3% drop seen in June and ending a streak of three consecutive negative readings. A month-on-month comparison corroborates the improvement suggested by the annual figures, as exports expanded a seasonally adjusted 7.7%, contrasting June's 1.4% drop and marking the strongest pick-up since August 2011. Imports, meanwhile, fell 4.2% annually in July, which was up from June's 11.6% decrease but marked nonetheless a sixth consecutive month of contracting imports. The figure reflects the lasting impact of government measures aimed at curbing import growth. As a result, the trade balance recorded a surplus of USD 1.0 billion in July, which was above the USD 657 million surplus seen in the same month last year.
Author: Armando Ciccarelli, Head of Data Solutions