BUENOS AIRES -Argentina posted a wide trade surplus in October as the steep gain in exports slightly outpaced the rising tide of imports amid a host of barriers thrown up to protect local manufacturers.
Argentina’s trade surplus in October totaled $1.22 billion, up from $940 million a year earlier, the national statistics agency, Indec, reported Tuesday.
Exports in October reached $7.53 billion, a 28% gain on the year, while imports were valued at $6.31 billion, a 27% gain on the year.
In October, the gain in exports was led by soybeans, grains, vehicles and vegetable oils, Indec said. The value of those exports rose 12% on the year, while the volume shipped grew 14%.
The rise in imports during the month was led by intermediary goods, fuel and lubricants, and capital goods. The value of imports rose 7% on the year and the volume was up 19%.
During the first 10 months of the year, Argentina’s trade surplus reached $ 9.38 billion, down from $11.19 billion during the same period a year earlier.
-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738; shane.romig@ dowjones.com
(END) Dow Jones Newswires
11-22-111442ET
Copyright (c) 2011 Dow Jones & Company, Inc.
Source: Dow Jones