Exports slumped 2.8 percent year-on-year to USD 19.24 billion in May, mainly due to lower sales of manufactured goods (-21 percent) and semi-manufactured goods (-13.6 percent). Meanwhile, exports of primary goods, of which soybeans, rose 13 percent. Among major trading partners, exports dropped to the US (-27.6 percent), the EU (-6 percent), Argentina (-19.3 percent) and Mexico (-28 percent), while those to China jumped 27.2 percent.
On the other hand, imports jumped 9.3 percent to USD 13.26 billion, boosted by higher purchases of intermediate goods (6.5 percent), consumption goods (5.8 percent), fuels and lubricants (17.8 percent) and capital goods (23.5 percent). Imports rose from the EU (16.3 percent), China (10.6 percent), the US (4.6 percent), South Korea (4.8 percent), Japan (25 percent) and Mexico (32 percent), while those from Argentina declined 12.7 percent.
Considering the first five months of the year, the trade surplus fell to USD 26.16 billion from USD 29.03 billion in the same period of 2017.