Argentina: Merchandise exports plunge in September
October 23, 2020
Merchandise exports tumbled 18.0% in annual terms in September, following August’s 11.3% slump. The print reflected contractions in all of the four major categories, with exports of primary products and of fuels and energy collapsing the most. In terms of export markets, September’s print mainly resulted from tumbling overseas shipments to Brazil, China and the U.S. outweighing higher exports to Chile and India.
Merchandise imports rebounded and expanded 3.1% in annual terms in September (August: -20.4% yoy). The uptick reflected rising purchases of intermediate and consumer goods as well as of equipment for capital goods.
Meanwhile, the trade surplus came in at USD 0.6 billion in September from August’s USD 1.4 billion (September 2019: USD 1.7 billion surplus). Lastly, the 12-month rolling trade balance declined from August’s USD 19.2 billion surplus to a USD 18.1 billion surplus in September (September 2019: USD 12.2 billion surplus).