Argentina: Merchandise exports grow at a milder rate in November
Merchandise exports jumped 14.5% annually in November, on the heels of Octobers 15.1% upturn. Meanwhile, merchandise imports were broadly stable, falling just 0.3% on an annual basis in November (October: +15.8% yoy), marking the weakest reading since October 2020.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.3 billion surplus in November (October 2022: USD 1.8 billion surplus; November 2021: USD 0.4 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 6.1 billion surplus in November, compared to the USD 5.2 billion surplus in October.