Argentina Posts First Trade Deficit in 16 Years After Revision
- Deficit totaled $3 billion on 17 percent slump in exports
- Statistics agency revised trade balance numbers for 2014-2015
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Argentina reported its first annual trade deficit in 16 years after the new government revised data produced by the previous administration.
The shortfall was $3 billion in 2015, the statistics agency’s Technical Director Fernando Cerro said Thursday at a news conference in Buenos Aires. Before the government assumed power in December, the agency known as INDEC, had reported a surplus in each of the first 10 months of the year. The trade surplus for 2014 was revised down to $3.1 billion from $6.7 billion.