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Argentina Trade March 2024

Argentina: Merchandise exports accelerate in March

Merchandise exports jumped 11.5% in annual terms in March, on the heels of February’s 5.6% increase. March’s figure marked the strongest expansion since November 2022. Meanwhile, merchandise imports plunged 36.7% in annual terms in March (February: -18.0% yoy), marking the weakest reading since August 2009.

As a result, the merchandise trade balance improved from the previous month, recording a USD 2.1 billion surplus in March (February 2024: USD 1.4 billion surplus; March 2023: USD 1.1 billion deficit). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 1.3 billion deficit in March, compared to the USD 4.5 billion deficit in February.

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