Argentina: Merchandise exports increase at a milder pace in February
Merchandise exports increased 5.6% annually in February (January: +9.6% year-on-year). Meanwhile, merchandise imports slid 18.6% over the same month last year in February (January: -14.1% yoy), marking the weakest reading since December 2022.
As a result, the merchandise trade balance improved from the previous month, recording a USD 1.4 billion surplus in February (January 2024: USD 0.8 billion surplus; February 2023: USD 0.2 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 4.5 billion deficit in February, compared to the USD 5.7 billion deficit in January.