Argentina: Exports contract in April
May 23, 2016
In April, exports contracted 7.7% over the same month last year, which contrasted the 0.9% increase seen in March and marked the lowest reading in four months. April’s deceleration broadly reflected a contraction in industrial exports. On a monthly basis, exports contracted 6.6% in seasonally-adjusted terms, which followed the 2.7% decrease observed in the previous month.
Imports in April contracted 10.7% annually, which was below the 6.6% decrease seen in March and marked the steepest decrease since May 2015. The trade surplus totaled USD 0.33 billion in April, marking an improvement over the USD 0.20 billion surplus recorded in April 2014. In the 12 months up to April, the trade balance posted an accumulated deficit of USD 2.0 billion, which was an improvement over the USD 2.2 billion deficit in the 12 months up to March.
Author: Dirina Mançellari, Senior Economist