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Argentine trade balance collapsed 60% in August because of the energy import bill

Argentine trade balance collapsed 60% in August because of the energy import bill

Posted by Juan Gavasa on September 27, 2013

The August surplus was 568 million dollars and 6.3bn dollars in the eight months of the year, which is 32% below the same period in 2012. August exports reached 7.7bn dollars, just 34 million dollars above July 2012, while imports soared 14% to 7.2bn dollars because of the growing cost of energy. Indec points out that export were flat because of a 4% drop in prices, insufficient to compensate 5% increase in volume.

The declining tendency of Argentine exports started in June when the inter-annual increase dropped 8% from the 14% increase reported in May. In July the slide continued with a mere 2% increase while in August exports were flat compared to a year ago.

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