Argentina: Exports expand at slowest rate in four months in July
August 22, 2013
In July, exports expanded 2.4% over the same month last year to reach USD 7.8 billion, which marked a deceleration over the 7.7% increase tallied in June and the slowest expansion in four months. A month-on-month comparison, however, does not corroborate the moderation the annual figures suggest, as exports expanded 3.3% on a seasonally adjusted basis, rebounding from a 2.3% drop in June.
Imports, meanwhile, grew 10.9% annually in July, which more than doubled the 4.9% expansion registered in June. Amid strong imports and slowing exports, the trade surplus narrowed from USD 1.2 billion in June to USD 770 million in July, the lowest surplus in four months.
LatinFocus Consensus Forecast panellists 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