Argentina Trade Balance August 2022

Argentina

Argentina: Merchandise exports decrease in August

September 22, 2022

Merchandise exports declined 6.9% in annual terms in August, contrasting July’s 7.6% increase. August’s result marked the worst drop since December 2020. Meanwhile, merchandise imports soared 36.2% on an annual basis in August (July: +45.0% yoy), marking the weakest reading since March 2022.

As a result, the merchandise trade balance improved from the previous month, recording a USD 0.3 billion deficit in August (July 2022: USD 0.5 billion deficit; August 2021: USD 2.3 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 6.3 billion surplus in August, compared to the USD 8.9 billion surplus in July.

Panelists participating in the LatinFocus Consensus Forecast expect merchandise exports to increase 0.1% in 2022 and merchandise imports to expand 3.8%, pushing the trade balance to a USD 12.2 billion surplus. For 2023, the panel expects merchandise exports to increase 4.4% and merchandise imports to grow 7.2%, with a trade surplus of USD 11.1 billion.


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