Argentina: Trade surplus narrows further
April 23, 2013
In March, exports contracted 3.7% over the same month last year, which marked a smaller drop than the 4.3% fall tallied in February. As a result, in the 12 months up to March, exports declined 5.2% over the corresponding period last year (February: -4.9% year-on-year).
Meanwhile, imports increased 5.0% annually in March (February: +9.8% yoy). As a result, imports contracted 6.3% in the 12 months up to March, which was up from the 7.2% drop seen in February.
Finally, the trade balance registered a surplus of USD 510 million in March, which prompted the 12-month moving sum of the trade balance to fall to USD 11.2 billion from USD 11.7 billion in February.
LatinFocus Consensus Forecast panellists expect that exports will expand 9.0% in 2013, pushing them to a record of USD 88.5 billion. For 2014, the panel expects exports to grow 3.7%.
Author: Armando Ciccarelli, Head of Data Solutions