Argentina External Debt (USD bn)

Merchandise exports fall in January

Merchandise exports contract in December

Merchandise exports fell 7.1% in annual terms in December (November: +15.0% year-on-year). The result marked the sharpest fall since December 2020. Meanwhile, merchandise imports plunged 19.3% in annual terms in December (November: -0.1% yoy), marking the weakest result since August 2020.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.1 billion surplus in December (November 2022: USD 1.4 billion surplus; December 2021: USD 0.4 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 6.9 billion surplus in December, compared to the USD 6.2 billion surplus in November.

Merchandise exports fell 11.7% in annual terms in January (December: -7.1% year-on-year). Meanwhile, merchandise imports rose 2.5% on an annual basis in January (December: -19.3% yoy).

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.5 billion deficit in January (December 2022: USD 1.1 billion surplus; January 2022: USD 0.3 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 6.1 billion surplus in January, compared to the USD 6.9 billion surplus in December.