Argentina Recorded A Trade Surplus Of USD 1,411 Million In April

INFOBAE -The trade balance registered a positive balance of 1,411 million dollars in April, the National Institute of Statistics and Censuses (INDEC) reported on Wednesday.

Exports totaled USD 4,329 million in the fourth month of the year, which represented a year-on-year drop of 18.9%, and imports totaled USD 2,918 million, 30.1% less than the same month last year.

“The surplus in the trade balance is explained by a drop in imports, a result of the recession in our country and a drop in domestic demand,” said a report by the consultancy firm Libertad y Progreso.

“It is a trend that will be observed throughout the year. In the second semester, export growth is expected due to the rise in commodity prices, given the rapid recovery of our main buyers, which will favor our sales abroad, “added the consultant.

Thus, the total value of trade in the fourth month of the year reached USD 7,247 million, with a 23.8% drop compared to April 2019, while the balance of the trade surplus improved 24.8% in comparison with the same month last year.

The accumulated trade surplus in the first four months of 2020 amounted to about USD 4.7 billion

In April of last year, the Argentine trade balance had registered a surplus of USD 1,165 million and last March the result was positive at 1,158 million dollars.

The accumulated trade surplus in the January-April period amounted to USD 4.7 billion, some USD 1.5 billion more than the same period in 2019.

According to the economist Juan Ignacio Paolicchi, from the EcoGo study, “in exports there is more effect than quantity over price”, while he considered “the key to clear the uncertainty so that the BCRA can keep the current account surplus dollars” .