Argentina: Exports grow at double-digit pace for seventh consecutive month
October 22, 2010
In September, exports rose 44.8% over the same month last year, which came in below the 59.2% expansion observed in August. However, the reading marked the seventh consecutive month of double-digit growth in exports. The September expansion corroborates the healthy state of the external sector, with export figures rapidly moving towards pre-crisis levels. In September, the moving 3-month sum in exports reached USD 18.4 billion, which was below the peak of USD 21.3 billion observed in September 2008, but well above the trough of USD 13.1 billion in September 2009. Meanwhile, imports grew 53.1% annually in September, which was down from the 65.1% expansion recorded in August. Even though imports grew at a faster pace than exports in September, the trade surplus remained unchanged at August's USD 1.1 billion.
Author: Armando Ciccarelli, Head of Data Solutions