The skyline in Argentina

Argentina Trade December 2017

Argentina: Trade balance records largest accumulated deficit on record

In December, exports contracted 2.4% in year-on-year terms, an improvement from the revised 4.2% contraction observed in November (previously reported: -4.9% year-on-year). December’s contraction reflected a double-digit drop in manufacture of agricultural products, which more than offset an expansion in the three remaining components of the index. In dollar terms, exports reached USD 4.5 billion, edging down from previous month’s USD 4.6 billion and the USD 4.6 billion recorded in the corresponding month of 2016.

Growth in imports moderated from a 30.2% annual expansion in November to 16.7% in December. The deceleration was driven by a sharp slowdown in the imports of capital goods, which expanded just 0.2%, down from the 30.2% expansion observed in November. In dollar terms, imports reached USD 5.4 billion, below the previous month’s USD 6.2 billion and above the USD 4.6 billion recorded in December 2016.

As exports contracted and imports expanded at a strong rate, the trade balance swung from a USD 33 million surplus in December 2016 to a USD 847 million deficit in December 2017 (November 2017: USD 1.5 billion deficit). For the year 2017, the trade balance posted an accumulated deficit of USD 8.5 billion, below the USD 7.6 billion deficit recorded in the 12 months up to November. The trade deficit in 2017 exceeded the previous record of USD 5.7 billion, established in 1994.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest