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Argentina Trade July 2023

Argentina: Merchandise exports slide at a more moderate rate in July

Merchandise exports shrank 22.4% over the same month last year in July (June: -35.8% year-on-year). Meanwhile, merchandise imports dived 19.1% in annual terms in July (June: -16.3% yoy), marking the weakest reading since December 2022.

As a result, the merchandise trade balance improved from the previous month, recording a USD 0.6 billion deficit in July (June 2023: USD 1.8 billion deficit; July 2022: USD 0.5 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 0.7 billion deficit in July, compared to the USD 0.5 billion deficit in June.

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