Argentina: Exports accelerate in November
December 20, 2013
In November 2013, exports expanded 2.8% over the same month of the previous year and reached USD 6.8 billion. The reading was up from the 0.5% expansion recorded in the same month of the previous year. A month-on-month comparison, however, does not corroborate the positive picture reported by the annual figures. Exports rose 1.6% on a seasonally-adjusted basis in November. While the result was down from October's 3.5%, it nevertheless marked the second consecutive increase.
Meanwhile, imports grew 1.7% annually in November (November 2012: -6.4% year-on-year). As a result of faster growth in exports, the trade surplus widened to USD 901 million, which was up from the USD 811 million recorded in November 2012.
LatinFocus Consensus Forecast panelists expect that exports will expand 1.6% in 2014, pushing them to USD 85.5 billion. For 2015, the panel expects exports to grow 2.8%.
Author: Armando Ciccarelli, Head of Data Solutions