Argentina: Merchandise exports decelerate in March
April 22, 2022
Merchandise exports rose 28.5% over the same month last year in March (February: +35.1% year-on-year). The print was driven by skyrocketing foreign sales of primary products and energy as well as by a strong expansion in exports of industrial goods. In terms of export markets, March’s print mainly resulted from surging overseas shipments to Brazil, Chile, China, the Netherlands and the U.S. Meanwhile, merchandise imports shot up 33.0% in annual terms in March (February: +51.7% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.3 billion surplus in March (February 2022: USD 0.8 billion surplus; March 2021: USD 0.4 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 13.6 billion surplus in March, compared to the USD 13.7 billion surplus in February.