Argentina: Merchandise exports grow at a softer but still strong rate in August
Latest reading: Merchandise exports soared 14.9% over the same month last year in August (July: +19.2% year-on-year). Higher exports of manufactured foodstuffs, other manufactured goods and energy drove the reading. Meanwhile, merchandise imports dived 29.8% over the same month last year in August (July: -15.4% yoy), due to depressed domestic demand.
As a result, the merchandise trade balance improved from the previous month, recording a USD 2.0 billion surplus in August (July 2024: USD 1.5 billion surplus; August 2023: USD 1.0 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 13.4 billion surplus in August, compared to the USD 10.5 billion surplus in July.