Argentina: Merchandise exports increase in July
Merchandise exports rose 7.2% year-on-year in July (June: +20.3% year-on-year). July’s outturn marked the softest growth since December 2020. Meanwhile, merchandise imports climbed 43.7% over the same month last year in July (June: +46.6% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.4 billion shortfall in July (June 2022: USD 0.2 billion deficit; July 2021: USD 1.5 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 9.0 billion surplus in July, compared to the USD 11.0 billion surplus in June.