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ECONOMY | 27-03-2019 17:32

Argentina reports US$460-million trade surplus for February

INDEC reports year-over-year trade surplus for February, along with rising external debt.

Argentina's registered a trade surplus of US$460 million in February, the INDEC national statistics bureau reported Tuesday.

The surplus was the result of a 22.9 percent decrease in imports and a 3.7 percent increase in exports, compared to February of last year.

INDEC also revealed that Argentina's total external debt increased by 18 percent, or roughly US$43 billion, during the fourth quarter of 2018, bringing it to a total of nearly US$288 billion.

The bureau said that "there were year-over-year increases of 22 percent for general government debt, 29 percent for the Central Bank, 30 percent for other financial companies and 10 percent for non-financial corporations.”

In February, Argentina’s exports totalled approximately US$4.5 billion, while imports totalled US$4 billion, the report said.

The commercial exchange (exports plus imports) fell by 10.9 percent, settling at a value of US$8.468 billion.

Exports were led by the agricultural sector (+ 36.7 percent), industry (+ 30.6 percent) and primary products (+ 24.2 percent).

-TIMES/AFP

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