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LatinNews Daily - 26 July 2018

In brief: Argentina

Argentina: The national statistics institute (Indec) has revealed that Argentina had a trade deficit of US$382m in June, a decrease of approximately 70% compared to the deficit recorded in the previous month of May when the deficit amounted to US$1.3bn. When compared with the trade deficit in June 2017, which totalled US$750m, the deficit fell by approximately 50%. The decrease in the trade deficit this year owes principally to a fall in total imports, which decreased by 10.8% in June compared with May. This fall in imports is seen as the first indication of the negative impact that the run on the Argentine peso in May-June has had on domestic consumption in Argentina. Despite the falling deficit, the statistics published by Indec also show that, in the first six months of 2018, the accumulated trade deficit was US$5.1bn, almost double that registered in the same period of 2017, which amounted to US$2.6bn.

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