Argentina’s trade balance shifted to a USD 1183 million surplus in March 2019 from a USD 554 million gap in the same month a year earlier. It was the seventh straight monthly trade surplus, as imports plunged 33.7 percent year-on-year to USD 3953 million, as purchases declined for capital goods (-46.1 percent); intermediate goods (-21.3 percent); fuels & lubricants (-19.3 percent); consumption goods (-32.6 percent) and vehicles (-58.2 percent). By country of origin, imports dropped from Brazil (-49.9 percent) and China (-38.7 percent). Meantime, exports shrank 5.0 percent to USD 5136 million, dragged by sales of agricultural manufactures (-8.9 percent); industrial manufactures (-6.5 percent), and commodities (-0.7 percent); in contrast, sales of fuels & lubricants climbed 6.4 percent. Exports to Brazil plunged 9.8 percent, whereas sales to China climbed 3.1 percent and to the US 2.5 percent. Balance of Trade in Argentina averaged 217.93 USD Million from 1957 until 2019, reaching an all time high of 2543 USD Million in May of 2009 and a record low of -1494 USD Million in November of 2017.
Balance of Trade in Argentina is expected to be 350.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Argentina to stand at -500.00 in 12 months time. In the long-term, the Argentina Balance of Trade is projected to trend around 200.00 USD Million in 2020, according to our econometric models.