Argentina Trade February 2016

Argentina

Argentina: Exports accelerated in February

April 9, 2016

In February, exports expanded 6.7% over the same month last year, which was significantly above the 1.3% increase observed in the previous month and marked the best result since June 2013. February’s increase reflected expansions in agricultural exports. On a monthly basis, February’s exports expanded 1.6% in seasonally-adjusted terms, which was well below the 27.4% increase seen in January.

Imports in February expanded 0.7% annually, which contrasted the 3.8% decrease tallied in the previous month. The trade deficit totaled USD 0.10 billion in February, marking an improvement over the USD 0.13 billion deficit recorded in February 2014. In the 12 months up to February, the trade balance posted an accumulated deficit of USD 2.6 billion, which was up from the USD 2.8 billion deficit reached during the 12 months up to January.

Panelists participating in the LatinFocus Consensus Forecast expect exports to drop 13.1% in 2016 and they see imports contracting 9.7%, thus pushing the trade surplus to USD 3.6 billion. For 2017, the panel expects exports to increase 4.9% and imports to expand 5.6%, with the trade surplus narrowing to USD 3.3 billion.


Author:, Senior Economist

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Argentina Trade Chart


Argentina Trade12m February 2016

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.


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