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Argentina Trade Balance January 2022

Argentina: Merchandise exports growth plunges in January

Merchandise exports rose 12.9% over the same month last year in January, following December’s 85.9% surge. The print was driven by skyrocketing foreign sales of primary products as well as by strong expansions in exports of energy and industrial goods. In terms of export markets, January’s print mainly resulted from surging overseas shipments to Chile, China, Germany and Indonesia. Meanwhile, merchandise imports climbed 36.6% in annual terms in January (December: +59.1% yoy).

As a result, the merchandise trade balance narrowed from the previous month, recording a USD 0.3 billion surplus in January (December 2021: USD 0.4 billion surplus; January 2021: USD 1.1 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 14.0 billion surplus in January, compared to the USD 14.8 billion surplus in December.

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