Argentina: Exports rise to pre-crisis peak in May
June 23, 2011
In May, exports rose 23.7% over the same month the year before, which was above the 12.0% expansion observed in April and marked the 14th consecutive month of double-digit growth in exports. With the May reading, exports rose to pre-crisis levels. In May, the moving 3-month sum of exports reached USD 21.3 billion, matching the September 2008 peak. A month-on-month comparison corroborates the year-on-year result, as exports expanded 7.4% on a seasonally-adjusted basis, which contrasted the 1.9% drop recorded in April. Meanwhile, imports grew 39.1% annually in May, up from the 37.8% expansion registered in April. As a consequence of booming exports, the trade surplus widened from USD 1.3 billion in April to USD 1.7 billion in May.
Author: Armando Ciccarelli, Head of Data Solutions