Argentina: Trade surplus widens in April
May 22, 2012
In April, exports contracted 6.5% over the same month last year, which contrasted the 1.9% expansion seen in March and marked the first contraction since November 2009. A month-on-month comparison corroborates the bleak picture suggested by the annual figures, as exports contracted 6.6% on a seasonally adjusted basis, further down from March's 1.8% drop and marking the largest contraction since October 2010. Imports, meanwhile, fell 14.1% annually in April, which was further down from March's 7.8% decrease and marked a third consecutive month of contracting imports, in addition to representing the largest contraction since October 2009. The figure reflects the lasting impact of government measures aimed at curbing import growth. As a result of the contraction in imports, the trade surplus widened to USD 1.8 billion in April, which was up from the USD 1.1 billion surplus recorded in March and constitutes the largest surplus since May 2010.
Author: Armando Ciccarelli, Head of Data Solutions