Exports fell 12.5 percent year-on-year to USD 18.85 billion in August, mainly due to lower sales of primary goods (-1.9 percent) and industrial goods (-21.5 percent), of which manufactured products (-29 percent) namely passenger vehicles (-47.7 percent); cargo vehicles (-34.6 percent); engine parts and aviation turbines (-23.7 percent); planes (-23.6 percent) and parts (-21 percent). Meanwhile, sales of semi-manufactured products rose 9.4 percent, in particular iron (471.5%), ferroalloys (64.3 percent), cast iron (34.9 percent), raw zinc (26.9 percent) and gold (21.1 percent).
Among major trading partners, exports declined to China (-8.3 percent), the US (-1.5 percent), the EU (-1.5 percent), Argentina (-40.4 percent), and ASEAN countries (-1 percent).
Imports went down 17.1 percent to USD 15.57 billion, due to lower purchases of intermediate (-6.2 percent), capital (-37.8 percent) and consumption goods (-11 percent). In addition exports of fuels & lubricants decreased 36.9 percent.
Among major trading partners, imports dropped from China (-41.1 percent) and Argentina (-30 percent), but advanced from the EU (1.5 percent) and the US (18.9 percent).
Considering the first seven months of 2019, the country recorded a USD 31.76 billion trade surplus.