Argentina posted a trade surplus of USD 951 mIllion in July 2019 compared to a USD 772 million deficit in the same month a year ago and beating market expectations of a USD 684 million surplus. It is the eleventh straight monthly trade surplus, as exports rose 8.3 percent year-on-year to USD 5,856 million, boosted by sales of primary products (56.2 percent); agricultural manufactures (9.5 percent). Meanwhile, those of industrial manufactures (-17.8 percent) and fuels & energy (-6.3 percent) decreased. Imports slumped 20.5 percent to USD 4,905 million, amid lower purchases of capital goods (-25.3 percent); intermediate goods (-8.3 percent); fuels & lubricants (-40.4 percent); parts & accessories for capital goods (-4.6 percent); consumption goods (-24.9 percent) and vehicles (-49.3 percent). Balance of Trade in Argentina averaged 222.79 USD Million from 1957 until 2019, reaching an all time high of 2543 USD Million in May of 2009 and a record low of -1494 USD Million in November of 2017.
Balance of Trade in Argentina is expected to be 1200.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Argentina to stand at -500.00 in 12 months time. In the long-term, the Argentina Balance of Trade is projected to trend around 200.00 USD Million in 2020, according to our econometric models.