Argentina's foreign trade volume (exports plus imports) decreased by 7.2% in February compared to the same month last year, while the trade balance recorded a surplus of US$788 million, consolidating its 27th consecutive month with a positive result.
According to the National Institute of Statistics and Censuses (INDEC), the decline was conditioned by the decrease in both imports and exports. In this way, the first two months of the year ended with a balance of US$2.977 billion, influenced by the US$2.189 billion recorded in January.
Specifically, February's exports totaled US$5.962 billion, a 2.9% year-on-year decrease. The terms of trade index increased by 0.7%, reflecting an improvement in the relative prices of foreign trade and an increase in external purchasing power.
By the end of February, Argentina's five main trading partners all recorded negative trade balances. This means Argentina exported less to these countries than it imported from them.
United States: balance of -US$10 million (exports US$407 million, imports US$417 million). European Union: balance of -US$76 million (exports US$580 million, imports US$656 million). Brazil: balance of -US$222 million (exports US$910 million, imports US$1.133 billion). Paraguay: balance of -US$322 million (exports US$87 million, imports US$409 million). China: balance of -US$640 million (exports US$631 million, imports US$1.271 billion).
