Exports shrank 25 percent year-on-year to USD 15.6 billion and imports fell 5.9 percent to USD 17.99 billion. A year earlier, the country posted a USD 1.74 billion surplus.
Year-to-date, the country recorded a USD 4.22 billion deficit. Exports shrank 5.7 percent over the same period in 2013, due to lowe commodities’ prices such as iron ore (-21 percent), corn (-21.3 percent) and soybean (-4.4 percent) and lower demand from Argentina (-27 percent). Imports contracted 3.9 percent.