LatinNews Daily - 24 October 2018

* Argentina’s national statistics institute (Indec) has released its latest trade figures, which show that Argentina posted a trade surplus of US$341m in September, the first surplus recorded by the country since December 2016. An Indec report notes that the surplus was the result of a 4.8% year-on-year fall in exports to US$5.01bn, which was offset by a 21.2% fall in imports to US$4.69bn. The significant fall in imports has been attributed to the currency crisis affecting Argentina, which has seen the Argentine peso sharply depreciate against the US dollar since the start of the year. Pointedly, the Indec report notes that while the volume of imports fell by 28.3% year-on-year in September the price of these imports increased by 9.9% compared to September 2017. Despite the September trade surplus, Argentina’s accumulated trade balance for the year remains negative, with the country having a US$6.45bn trade deficit to September according to the Indec data.

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