Argentina Trade May 2016


Argentina: Exports rebound in May

June 23, 2016

In May, exports expanded 2.7% over the same month last year, which contrasted the 8.4% decrease observed in the previous month and marked a three-month high. May’s improvement broadly reflected an expansion in agricultural exports. On a monthly basis, exports expanded 3.6% in seasonally-adjusted terms, which contrasted the 7.3% decrease observed in the previous month.

Imports in May contracted 1.8% annually, which was a softer decrease compared to the 10.7% drop seen in April. The trade surplus totaled USD 0.44 billion in May, marking an improvement over the USD 0.21 billion surplus recorded in May 2014. In the 12 months up to May, the trade balance posted an accumulated deficit of USD 1.8 billion, which was an improvement over the USD 2.1 billion deficit recorded in the 12 months up to April.

Panelists participating in the LatinFocus Consensus Forecast expect exports to drop 3.1% in 2016, imports to contract by 3.2% and the trade surplus to be USD 0.7 billion. For 2017, the panel expects exports to increase 7.8% and imports to expand 8.5%, with the trade surplus narrowing to USD 0.4 billion.

Author:, Senior Economist

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Argentina Trade Chart

Argentina Trade12m May 2016 1

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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