Argentina: Export growth slows further in August
September 23, 2013
In August, exports expanded 0.4% over the same month last year and reached USD 7.7 billion, which marked both a deceleration over the 2.4% increase tallied in July and the slowest expansion in five months. A month-on-month comparison paints a bleaker picture than the annual figures show; exports contracted 5.3% on a seasonally-adjusted basis in August, contrasting July's 3.1% expansion.
Imports, meanwhile, grew 13.5% annually in August, up from the 10.9% expansion registered in July. Amid strong imports and slowing exports, the trade surplus narrowed from USD 770 million in July to USD 568 million in August, the smallest surplus in five months.
LatinFocus Consensus Forecast panelists expect that exports will expand 9.0% in 2013, pushing them to a record of USD 88.5 billion. For 2014, the panel expects exports to grow 3.7%.
Author: Armando Ciccarelli, Head of Data Solutions