Argentina: Trade balance narrows in January
February 21, 2013
In January, exports contracted 4.1% over the same month last year which was, nonetheless, above the 5.1% drop tallied in December. As a result, in the 12 months up to January exports dropped 4.3% over the corresponding period last year (December: -3.3% year-on-year).
Meanwhile, imports increased 0.5% annually in January, which contrasted the 8.7% decline recorded in December. Conversely, imports contracted 7.9% in the 12 months up to January (December: -7.3% yoy).
Finally, the trade balance registered a surplus of USD 280 million in January. Accordingly, the 12-month moving sum of the trade balance fell from USD 12.7 billion in December to USD 12.4 billion in January.
LatinFocus Consensus Forecast panellists expect that exports will expand 10.1% in 2013, pushing them to a record of USD 89.4 billion. For 2014, the panel expects exports to grow 4.7%.
Author: Armando Ciccarelli, Head of Data Solutions