A drop in exports has led to the trade balance contracting 72.4 percent in May compared to the same period last year, according to figures published by the National Statistics and Census Institute (INDEC).
A surplus of 355 million dollars showed a steep drop from 1.29 billion dollars recorded in May 2014, while in April this year INDEC recorded a positive balance of US$252m.
A 26 percent drop in exportations compared to the previous year meant Argentina received US$5.32 billion over the past month. Imports also fell, 16 percent to US$4.98bn. Foreign sales recorded their 19th consecutive month in decline.
Private specialists consulted by Reuters had forecast an average of US$553m surplus for the fifth month of 2015.
Source: Buenos Aires Herald