Sumary of Argentina: Merchandise exports continue to jump in June also due to a low base effect:
- Merchandise exports soared 45.8% in annual terms in June, following May’s softer 34.2% jump.
- The print again reflected a very low base effect and was driven by skyrocketing foreign sales of industrial and agricultural goods as well as by strong expansions in exports of energy and primary products.
- Merchandise imports skyrocketed 79.1% in annual terms in June (May: +62.4% yoy).
- Panelists participating in the LatinFocus Consensus Forecast expect merchandise exports to increase 7.6% in 2021 and merchandise imports to expand 13.3%, pushing the trade balance to a USD 16.5 billion surplus.