Macroeconomy/Finance

May’s trade surplus was $1.89 bn

The trade balance marked a positive $1.89 billion in May, although trade flows fell 23% year-on-year in May, reaching only $8.25 billion. Exports of agricultural manufactures showed falls of 5.5% while industrial productions plummeted 52.7% and Fuels fell 40% year-on-year. Increased demand for farm products from China reduced the sharp drop in exports. On the imports side, there were drops in all items for the seventh consecutive month: Passenger vehicles -76% year-on-year, Fuels and lubricants -59%, Parts and accessories for capital goods -49%, Capital goods -31%, Intermediate goods -16% and Consumer goods -8%.

Source: Ámbito

Categories: Macroeconomy/Finance