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Argentina’s Trade Surplus Widened to $1.01 Billion in July

Argentina’s trade surplus widened to $1.01 billion in July from $657 million a year earlier, the national statistics institute said.

Exports rose 1 percent from a year earlier to $7.4 billion, while imports fell 4 percent to $6.4 billion, the agency said in Buenos Aires today. Economists expected a surplus of $1.05 billion, according to the median estimate of six economists surveyed by Bloomberg.

The government of President Cristina Fernandez de Kirchner tightened import restrictions earlier this year in a bid to protect local producers from competition from foreign goods and prevent the country’s trade surplus from narrowing.

The restrictions prompted the U.S. and Japan to file separate complaints against the South American country at the World trade Organization. Both governments said that “these measures restrict imports of goods and discriminate between imported and domestic goods.”

Argentina responded yesterday with a WTO complaint against a U.S. ban on imports of Argentine beef and citrus fruits.

To contact the reporter on this story: Eliana Raszewski in Buenos Aires at eraszewski@bloomberg.net

To contact the editor responsible for this story: Philip Sanders at psanders@bloomberg.net.

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