Argentina: Merchandise exports decrease in August
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.