Argentina: September exports ease
October 24, 2011
In September, exports rose 25.0% over the same month last year, which was below the 29.6% expansion in August but marked the 18th consecutive month of double-digit growth. A month-on-month comparison, though, painted a more subdued picture compared to the annual figures, as exports expanded a meagre 0.1% on a seasonally adjusted basis, which represents a strong moderation from the 6.9% increase recorded in August. Imports, meanwhile, grew 29.2% annually in September, down from the 42.9% expansion registered in August. Due to the large moderation in imports, the trade surplus expanded from USD 639 million in August to USD 1.1 billion in September, marking the largest surplus seen since May this year.
Author: Armando Ciccarelli, Head of Data Solutions