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Foreign Trade
Argentina recorded a 50% decline in the value of the peso, the worst case among emerging markets this year. But the problem has an optimistic side
A 50% fall in the currency of a country, the worst emerging market of this year, represents a major crisis. Just like the one who currently lives in Argentina.
However, the second-largest economy in South America was on the other side of the coin last month, as recorded its first trade surplus since December 2016, according to official figures. published this Tuesday note Bloomberg
However, behind this positive result, negative trends are also reflected.
Imports fell 21.2% in September from the previous year, while exports fell 4.8% over the same period.
Perhaps a very positive element: although it represents only a small part of the total shipments, the country's energy exports expanded sharply in September. an increase of 122% over last year says Bloomberg.
If the trend continues over the next few months, a trade surplus would theoretically help ease the pressure. praises the budget deficit of Argentina, a major concern of investors this year.
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