Argentina’s trade balance shifted to a USD 1373 million surplus in May 2019 from a USD 1282 million gap in the same month a year earlier. It was the ninth straight monthly trade surplus, as imports plunged 28.0 percent year-on-year to USD 4644 million, mainly dragged by lower purchases of intermediate goods (-16 percent); capital goods (-37.4 percent); consumption (-22.1 percent); and fuels & lubricants (-41.5 percent). Imports fell from Brazil (-34.8 percent), China (-23.9 percent) and the US (-12.7 percent). Meantime, exports rose 16.5 percent to USD 6017 million, boosted by higher sales of primary goods (61.1 percent); agricultural manufactures (4 percent); and fuels and energy (28.9 percent), while decreased for industrial (-0.7 percent). Exports jumped to Vietnam (192.7 percent), the US (69.9 percent) and China (68.3 percent). Balance of Trade in Argentina averaged 220.70 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 900.00 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.