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.
Author: Dirina Mançellari, Senior Economist