Argentina: Exports rebound in March
April 25, 2017
In March, exports in Argentina expanded 2.3% from the same month last year, which contrasted February’s 6.3% drop. Exports grew on the back of higher prices, despite a reduction in overall export volumes. As for the different product categories, exports of industrial, agricultural and energy products all expanded at double-digit rates, while exports of primary products contracted by almost a fifth. On a monthly basis, exports grew 4.5% in seasonally adjusted terms in March, strongly contrasting the revised 9.6% fall in February (previously reported: -9.8% year-on-year) and marking the highest reading in four months.
Imports jumped 16.4% annually in March, contrasting February’s 2.4% drop. The trade balance therefore worsened from a USD 274 million shortfall in March 2016 to a USD 941 million deficit in March 2017. In the 12 months up to March, the trade balance posted an accumulated surplus of USD 1.4 billion, which was a deterioration from the USD 2.0 billion surplus recorded in the 12 months till February.