Exports in Argentina
Argentina - Exports (percent change)
Coronavirus crisis strikes serious blow to exports in March
Exports plunged 15.9% in year-on-year terms in March, following February’s softer 2.8% drop. The print was the result of plummeting exports of manufactured products of agricultural and industrial origin and of fuels and energy, as well as of a dip in foreign sales of primary products. In terms of export markets, March’s print mainly resulted from tumbling overseas shipments to Brazil, the U.S. and China, compounded by lower sales to Vietnam and Paraguay which largely outweighed rising exports to Chile and the Netherlands.
Imports slumped 19.7% annually in March, broadly matching February’s 20.1% fall. Diving imports of passenger motor vehicles, fuels and lubricants and capital goods drove March’s downturn.
Meanwhile, the trade balance surplus in March matched February’s USD 1.1 billion (March 2019: USD 1.2 billion surplus). Moreover, the 12-month rolling trade balance was stable at February’s USD 17.3 billion surplus in March (March 2019: USD 0.7 billion surplus).
Panelists participating in the LatinFocus Consensus Forecast expect merchandise exports to drop 7.4% in 2020 and merchandise imports to decrease 13.0%, pushing the trade balance to a USD 17.6 billion surplus. For 2021, the panel expects merchandise exports to increase 5.3% and merchandise imports to rebound 12.2%, with a trade surplus of USD 15.6 billion.
Argentina - Exports (%) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Exports (annual variation in %) | -17.0 | 2.0 | 1.3 | 5.3 | 5.4 |
Argentina Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.69 | 0.15 % | Dec 17 |
| Exchange Rate | 59.88 | 0.45 % | Dec 30 |
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Economic News
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Economic activity decreased 26.4% year-on-year in April (March: -11.5% yoy).
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Argentina: Exports continue to plunge amid coronavirus crisis
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Exports tumbled 16.3% in year-on-year terms in May, following April’s sharper 18.9% dive.
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Argentina: Economy plunges in Q1 amid lockdown and ongoing debt renegotiations
June 24, 2020
Economic activity in the first quarter slumped 5.4% year-on-year, following Q4’s softer 1.1% drop, according to the Statistical Institute (INDEC).
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