Argentina Trade Balance October 2022

Merchandise exports fell 11.5% in October compared to the same month last year (September: -2.2% year on year). The October figure marked the sharpest decline since December 2020. Meanwhile, merchandise imports jumped 15.8% from the same month last year in October (September: +18.8% y/y), the weakest performance since January 2021.

As a result, the merchandise trade balance worsened month-on-month, recording $0.0 billion in October (September 2022: $0.4 billion surplus; October 2021: $1.6 billion surplus). Finally, the trend was downward, with the 12-month rolling merchandise trade balance recording a $3.4 billion surplus in October compared to a $5.0 billion surplus in September.

Experts participating in the LatinFocus Consensus Forecast expect merchandise exports to increase by 2.5% in 2023, while merchandise imports to increase by 2.8%. The Group expects merchandise exports to increase by 4.4% in 2024, while merchandise imports to rise by 5.1%.