Argentina Trade


Argentina: Exports contract more in August

September 22, 2015

In August, exports declined 16.0% over the same month last year, which represented a steeper contraction compared to the 12.3% drop seen in the previous month. August’s decline reflected contractions in manufacturing and energy exports. On a monthly basis, August’s exports dropped 4.2% in seasonally-adjusted terms, which came in below the 1.4% drop seen in July.

In addition, imports in August fell 2.6% annually, which was above the 3.7% decline registered in July. The drop was mainly driven by a strong decline in purchases of fuels and lubricants. The trade surplus totaled USD 0.05 billion in August, marking a deterioration over the USD 0.96 billion surplus recorded in August 2014. In the 12 months up to August, the trade balance posted an accumulated surplus of USD 3.0 billion, which was down from the USD 3.9 billion surplus reached during the 12 months up to July.

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 August 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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