Argentina: Merchandise exports drop at a quicker pace in April
Merchandise exports plummeted 29.3% in annual terms in April, following March’s 22.0% plunge. The result marked the sharpest contraction since December 2020. Meanwhile, merchandise imports slid 12.6% on an annual basis in April (March: -3.3% yoy).
As a result, the merchandise trade balance improved from the previous month, recording a USD 0.1 billion shortfall in April (March 2023: USD 1.1 billion deficit; April 2022: USD 1.5 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 2.6 billion surplus in April, compared to the USD 4.2 billion surplus in March.