Argentina’s trade surplus drops 15.1% in May

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Buenos Aires, Jun 22 (EFE) .- Argentina registered a trade surplus of 1,623 million dollars last May, the highest value in the last eleven months, although 15.1% lower than the positive balance achieved in the same month of 2020 , official sources reported Tuesday.

According to the National Institute of Statistics and Censuses (Indec), the volume of commercial exchange (exports plus imports) increased by 44.9% year-on-year in May, to a value of 11.905 million dollars.

According to official data, in May Argentina completed exports for 6,764 million dollars, 33.2% more than in the same month of 2020.

Meanwhile, imports totaled 5,141 million dollars, which represented a year-on-year increase of 62.4%.

According to the official report, in the first five months of the year Argentina accumulated a trade surplus of 5,624 million dollars, compared to a positive balance of 6,826 million dollars in the same period of 2020.

Argentina had registered a trade surplus of 12,528 million dollars last year, which represented a contraction of 21.6% in relation to the positive balance achieved in 2019.

The South American country experienced its third year in recession in 2020 and faces a high deficit in its public accounts, for which it needs, among other factors, to increase the inflow of foreign exchange through greater exports.

The Government of Alberto Fernández estimates that this year Argentina will achieve a positive balance in the trade balance of 15,087 million dollars, with exports for 74,432 million dollars and imports for 59,346 million dollars.

(c) EFE Agency

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