Argentina: Exports plummet in April
May 22, 2015
In April, exports declined 19.2% over the same month last year, which was a significant deterioration over the 4.1% drop seen in the previous month. April’s drop reflected contractions in all of the sub-components that comprise the index, with energy exports posting the largest fall. On a monthly basis, April’s exports decreased 7.8% in seasonally-adjusted terms, which contrasted the 9.9% increase recorded in the previous month.
In addition, imports fell 12.0% annually in April, which was well below the 3.7% 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 0.3 billion in April, marking a deterioration over the USD 0.8 billion surplus recorded in April 2014. In the 12 months up to April, the trade balance posted an accumulated surplus of USD 6.1 billion, which was down from the USD 6.7 billion surplus reached during the 12 months up to March.
Author: Dirina Mançellari, Senior Economist