Argentina: Exports decline at fast pace in January
February 25, 2015
In January, exports declined 17.9% over the same month of last year, which was an even stronger decline than the 13.2% drop tallied in December. January’s result reflected strong contractions in almost all of the sub-components that comprise the index, with energy exports posting the largest drop. The only category that grew was that of exports of primary products.
On a monthly basis, exports increased 6.9% in seasonally-adjusted terms in January, which contrasted the 13.8% fall observed in the previous month and marked the strongest result in seven months.
Imports fell 18.8% annually in January, which was well below the 12.8% decline registered in December. The drop was mainly driven by strong declines in purchases of automotive vehicles and fuels. The trade surplus totaled USD 73 million in January, marking an improvement over the USD 35 million recorded in January 2014. In the 12 months up to January, the trade balance posted an accumulated surplus of USD 6.7 billion, which was virtually in line with the surplus recorded during the 12 months up to December.
Author: Cecilia Simkievich, Economist