Argentina: Merchandise exports continue to grow strongly in October
Merchandise exports increased 46.5% over the same month last year in October, following September’s 60.1% jump. The print again reflected a low base effect and was driven by skyrocketing foreign sales of energy and primary products as well as by strong expansions in exports of industrial and agricultural goods. In terms of export markets, October’s print mainly resulted from surging overseas shipments to Brazil, Chile, China, India, the Netherlands, South Korea and the U.S. Meanwhile, merchandise imports climbed 31.0% in annual terms in October (September: +42.6% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.6 billion surplus in October (September 2021: USD 1.7 billion surplus; September 2020: USD 0.7 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 14.0 billion surplus in October, compared to the USD 13.0 billion surplus in September.