Argentina Trade June 2016


Argentina: Exports swing to contraction in June

July 26, 2016

In June, exports dropped 13.0% over the same month last year, which contrasted the 2.7% increase observed in the previous month and marked a six-month low. June’s deterioration broadly reflected contractions in agricultural and energy exports. On a monthly basis, exports dropped 2.3% in seasonally-adjusted terms, which contrasted the 3.4% increase observed in the previous month.

Imports in June contracted 10.9% annually, which was a steeper decrease compared to the 1.8% drop seen in May. The trade surplus totaled USD 0.13 billion in June, marking a deterioration over the USD 0.28 billion surplus recorded in June 2015. In the 12 months up to June, the trade balance posted an accumulated deficit of USD 2.0 billion, which was a deterioration over the USD 1.8 billion deficit recorded in the 12 months up to May.

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 June 2016

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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