Argentina Trade October 2016

Argentina

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.

Panelists participating in the LatinFocus Consensus Forecast expect exports to increase 0.7% in 2016, imports to contract by 5.1% and the trade surplus to be USD 0.4 billion. For 2017, the panel expects exports to increase 6.5% and imports to expand 9.7%, with the trade balance recording a USD 1.3 billion deficit.


Author: Ricard Torné, Lead Economist

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Argentina Trade12m October 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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