Argentina Trade Balance December 2022

Merchandise exports fell 7.1% in annual terms in December (November: +15.0% year-on-year). The result marked the sharpest fall since December 2020. Meanwhile, merchandise imports plunged 19.3% in annual terms in December (November: -0.1% yoy), marking the weakest result since August 2020.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.1 billion surplus in December (November 2022: USD 1.4 billion surplus; December 2021: USD 0.4 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 6.9 billion surplus in December, compared to the USD 6.2 billion surplus in November.

Panelists participating in the LatinFocus Consensus Forecast expect merchandise exports to increase 2.5% in 2023 and merchandise imports to expand 2.8%. For 2024, the panel expects merchandise exports to increase 4.4% and merchandise imports to grow 5.1%.