Argentina Trade Balance June 2022


Argentina: Merchandise exports growth broadly stable in June

July 21, 2022

Merchandise exports rose 20.3% over the same month last year in June (May: +21.2% year-on-year). Meanwhile, merchandise imports shot up 44.6% in annual terms in June (May: +53.4% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.1 billion deficit in June (May 2022: USD 0.4 billion surplus; June 2021: USD 1.1 billion surplus). Lastly, the trend weakened, with the 12-month trailing merchandise trade balance recording a USD 11.1 billion surplus in June, compared to the USD 12.3 billion surplus in May.

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.

Author: Massimo Bassetti, Senior Economist

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