Argentina Trade


Argentina: Exports contract less in July

August 24, 2015

In July, exports declined 12.3% over the same month last year, which represented a smaller contraction compared to the 14.0% drop seen in the previous month. July’s decline reflected contractions in manufacturing and energy exports. On a monthly basis, July’s exports dropped 0.4% in seasonally-adjusted terms, which contrasted markedly the 16.8% increase observed in June.

In addition, imports fell 3.7% annually in July, which was above the 6.7% decline registered in June. The drop was mainly driven by a strong decline in purchases of fuels and lubricants. The trade surplus totaled USD 0.21 billion in July, marking a deterioration over the USD 0.82 billion surplus recorded in July 2014. In the 12 months up to June, the trade balance posted an accumulated surplus of USD 3.9 billion, which was down from the USD 4.6 billion surplus reached during the 12 months up to June.

LatinFocus Consensus Forecast panelists expect exports to drop 13.1% in 2015 and they see imports contracting 9.7%, thus pushing the trade surplus to USD 3.6 billion. For 2016, 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 July 2015

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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