Argentina: Merchandise exports gain steam in July
Merchandise exports soared 47.1% annually in July (June: +46.5% year-on-year). July’s outturn marked the largest growth since August 2008. Meanwhile, merchandise imports jumped 65.6% on an annual basis in July (June: +79.1% yoy).
As a result, the merchandise trade balance improved from the previous month, recording a USD 1.5 billion surplus in July (June 2021: USD 1.1 billion surplus; July 2020: USD 1.5 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 11.0 billion surplus in July, compared to the USD 11.0 billion surplus in June.