Argentina Trade

Argentina

Argentina: Exports mark smaller contraction in June, remain mired in the red

July 22, 2015

In June, exports declined 14.0% over the same month last year, which represented a smaller contraction that the 25.9% drop seen in the previous month. June’s decline reflected contractions in manufacturing and energy exports, with the latter experiencing the largest fall. On a monthly basis, June’s exports increased 15.5% in seasonally-adjusted terms, which was an improvement over the 6.1% drop seen in the previous month.

In addition, imports fell 6.7% annually in June, which was above the 15.7% decline registered in May. The drop was mainly driven by a strong decline in purchases of fuels and lubricants. The trade surplus totaled USD 0.45 billion in June, marking a deterioration over the USD 1.0 billion surplus recorded in June 2014. In the 12 months up to June, the trade balance posted an accumulated surplus of USD 4.6 billion, which was down from the USD 5.2 billion surplus reached during the 12 months up to May.

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 June 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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