LatinNews Daily - 23 August 2023

In brief: Argentina’s trade deficit widens

* Argentina’s national statistics institute (Indec) reported a trade deficit of US$649m in July, up from a deficit of US$437m in July 2022. In the first seven months of the year, Argentina accumulated a trade deficit of US$5.1bn, compared to a positive balance of US$2.5bn in the same period of 2022. Exports in July totalled US$6.06bn dollars, down 22.4% on the same month in 2022, with falls in the export of primary products (-41.3%), manufacturing goods of agricultural origin (-26.1%), and manufacturing goods of industrial origin (-3.3%), while the only increase was in the export of fuel and energy (+17.6%). Imports in July totalled US$6.7bn, which represented a year-on-year decrease of 19.1%, due to a decrease in almost all imported goods and services with the exception of capital goods and accessories for capital goods, which increased by 1.9% and 7.1%, respectively. Overall, Argentina’s trade exchange totalled US$12.7bn in July, down by 20.7% year-on-year.

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