Argentina Trade


Argentina: Exports contract more in May

June 23, 2015

In May, exports declined 25.9% over the same month last year, which was a significant deterioration over the 19.2% drop seen in the previous month. May’s decline reflected contractions in all of the sub-components that comprise the index, with energy exports posting the largest fall. On a monthly basis, May’s exports decreased 4.2% in seasonally-adjusted terms, which was an improvement over the 8.4% drop seen in the previous month.

In addition, imports fell 15.7% annually in May, which was below the 12.0% decline registered in the previous month. The drop was mainly driven by strong declines in purchases of automotive vehicles and fuels. The trade surplus totaled USD 0.4 billion in May, marking a deterioration over the USD 1.3 billion surplus recorded in May 2014. In the 12 months up to May, the trade balance posted an accumulated surplus of USD 5.2 billion, which was down from the USD 6.1 billion surplus reached during the 12 months up to April.

LatinFocus Consensus Forecast panelists expect exports to drop 7.6% in 2015 and they see imports contracting 5.3%, thus pushing the trade surplus to USD 4.7 billion. For 2016, the panel expects exports to increase 7.4% and imports to expand 8.6%, with the trade surplus narrowing to USD 4.3 billion.

Author:, Senior Economist

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Argentina Trade Chart

Argentina Trade12m May 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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