Argentina: Exports record stronger contraction in October
November 24, 2015
In October, exports declined 12.8% over the same month last year, which represented a stronger contraction compared to the 6.7% drop seen in the previous month. October’s decline reflected contractions in industry and energy exports. On a monthly basis, October’s exports contracted 4.3% in seasonally-adjusted terms, which contrasted the 5.9% increase seen in the previous month.
In addition, imports in October contracted 10.4% annually, which contrasted the 0.9% increase tallied in the previous month. The trade surplus totaled USD 0.25 billion in October, marking a deterioration over the USD 0.44 billion surplus recorded in October 2014. In the 12 months up to October, the trade balance posted an accumulated surplus of USD 2.4 billion, which was down from the USD 2.6 billion surplus reached during the 12 months up to September.
Author: Dirina Mançellari, Senior Economist