Argentina: Trade balance widens in 2012 amid import restrictions
January 23, 2013
In December, exports contracted 5.1% over the same month the previous year, marking the sixth consecutive monthly fall. The contraction represents a deterioration over the 2.0% drop tallied in November. As a result, in the full year 2012, exports contracted 3.3% over the previous year, which contrasted the stunning 23.1% expansion recorded in 2011.
Imports, meanwhile, dropped 8.7% annually in December, which marked a deterioration compared to November's 6.4% decline. In the full year 2012, imports contracted 7.3% (2011: +30.2%), reflecting the long lasting impact of government measures aimed at curbing import growth.
The trade balance registered a surplus of USD 529 million in December. As a result, the trade balance rose from the USD 10.0 billion surplus recorded in 2011 to a USD 12.7 billion surplus in 2012.
Author: Armando Ciccarelli, Head of Data Solutions