Argentina: Exports rebound strongly in August
September 28, 2016
In August, exports expanded 12.0% over the same month last year, which contrasted the 10.8% decrease seen in July and marked the highest reading since May 2013. August’s improvement reflected sharp increases in exports of primary products. On a monthly basis, exports increased 10.4% in seasonally-adjusted terms, which contrasted the 1.1% drop observed in the previous month.
Imports contracted 7.1% annually in August. This was a softer decrease than the 17.3% drop in July, which had marked a 17-month low. The trade surplus totaled USD 0.71 billion in August, marking an improvement over the USD 0.30 billion shortfall recorded in August 2015. In the 12 months up to August, the trade balance posted an accumulated deficit of USD 0.6 billion, which was an improvement over the USD 1.6 billion deficit recorded in the 12 months up to July.
Author: Dirina Mançellari, Senior Economist