Argentina: Exports contract further in October
November 24, 2016
In October, exports contracted 6.3% from the same month last year, which followed the 2.8% decrease in September. October’s deterioration reflected sharp decreases in exports of primary products, and fuel and energy. On a monthly basis, exports decreased a softer 3.6% in seasonally-adjusted terms compared to the 7.7% decline in September.
Imports contracted at the softest pace in five months in October, declining 2.1% annually, which followed the 15.2% drop in September. The trade balance shifted to a USD 0.11 billion deficit in October from the USD 0.10 billion surplus in October 2015. In the 12 months up to October, the trade balance posted an accumulated surplus of USD 0.1 billion, which was a deterioration from the USD 0.3 billion deficit recorded in the 12 months up to September.