Argentina: Exports remain buoyant in April
May 23, 2011
In April, exports rose 11.8% over the same month the year before, which was below the 33.7% expansion observed in March. Despite the strong moderation, the reading marked the 14th consecutive month of double-digit growth. With the April expansion, exports continue to gradually ascend to pre-crisis levels. In April, the moving 3-month sum of exports reached USD 18.7 billion, which was still below the peak of USD 21.3 billion observed in September 2008, but well above the USD 11.9 billion trough recorded in February 2009. A month-on-month comparison does not corroborate the year-on-year result, as exports contracted 2.0% on a seasonally-adjusted basis, which contrasted the 1.6% increase recorded in March. Meanwhile, imports grew 37.8% annually in April, up from the 28.1% expansion registered in March. Finally, the trade surplus almost doubled, widening from USD 667 million in March to USD 1.3 billion in April.
Author: Armando Ciccarelli, Head of Data Solutions