Argentina Trade

Argentina

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.

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 April 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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