Argentina: Exports remain buoyant in March
April 25, 2011
In March, exports rose 33.7% over the same month the year before, which was in line with the 33.2% expansion observed in February. The reading marked the 13th consecutive month of double-digit growth. The March expansion corroborates the healthy state of the external sector, with exports gradually ascending to pre-crisis levels. In March, the moving 3-month sum of exports reached USD 17.1 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 March 2009. A month-on-month comparison corroborates the positive year-on-year result, as exports expanded 3.9% on a seasonally-adjusted basis, which more than doubled the 1.8% increase recorded in February. Meanwhile, imports grew 28.1% annually in March, slowing from the 38.9% expansion recorded in February. As a consequence, the trade surplus widened from USD 608 million in February to USD 667 million in March.
Author: Armando Ciccarelli, Head of Data Solutions