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August 28, 2014
Thursday, March 20, 2014

February trade surplus falls 92% as energy imports continue to rise

According to a report compiled by national statistics agency INDEC, February's trade surplus totaled 44 million dollars, a drop of 92 percent in comparison to the same period in 2013.

The reduction is explained by a lower level of exports, especially in the grains sector, while a strong demand for fuel has continued in order to supply the energy sector and the local market as well.

In the second month of 2014, exports hit 5.3 billion dollars, six percent less than 2013, while imports grew to 5.3, or a two percent rise.

The primary sector was among the hardest hit, seeing exports drop by 29 percent and a price reduction of 7 percent, meaning that revenues fell by 34 percent overall in February.

Cereal exports sales, mainly wheat and corn, were down 50 percent.

Automobiles sales registered a drop of 25 percent to 372 million dollars, while consumption goods dropped five percent to 1.1 billion dollars.

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Tags:  Argentina  Economy  AFIP  Surplus  





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