Argentina Trade April 2016

Argentina

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.

Panelists participating in the LatinFocus Consensus Forecast expect exports to drop 13.1% in 2016, imports to contract by 9.7% and the trade surplus to be 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 Trade12m April 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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