Argentina sees trade surplus 10 months in a row

Source: Xinhua| 2019-07-26 14:04:10|Editor: Wu Qin
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BUENOS AIRES, July 25 (Xinhua) -- Argentina registered a trade surplus in June for the 10th month in a row, the National Institute of Statistics and Censuses (INDEC) said on Thursday.

The trade surplus in June amounted to 1.061 billion U.S. dollars, leading to a combined surplus of 5.589 billion U.S. dollars in the first half of 2019.

Compared with the first half of 2018, Argentina's exports increased by 2.4 percent this year, while its imports fell by a whopping 27.9 percent due to the struggling economy.

The surplus in June was mainly driven by "an increase in sales (abroad) of oils and fats, cereals, meat and other food items," said INDEC.

Meanwhile, Argentina's ongoing economic troubles led to a steep drop in imports of "land vehicles, parts and accessories; machines, appliances and electrical materials; and combustible minerals, mineral oils and their byproducts."

Argentina exported more soybean oil, corn kernels, and deboned and frozen beef, among other goods since January.

The country's main trade partners in June continued to be neighboring Brazil, as well as China, the United States, Vietnam, India, Germany, Paraguay and Chile.

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