Argentina: Merchandise exports contract in August
Merchandise exports plummeted 22.4% on an annual basis in August (July: -22.4% year-on-year). Meanwhile, merchandise imports plunged 12.4% on an annual basis in August (July: -18.4% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.0 billion deficit in August (July 2023: USD 0.7 billion deficit; August 2022: USD 0.3 billion deficit). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 1.5 billion deficit in August, compared to the USD 0.8 billion deficit in July.