Argentina Current Account Surplus Up 34%

Argentina’s current account surplus for the second quarter of the year rose 34%, year on year, to $2.5 billion, according to the national statistics institute (INDEC). The increase in the surplus was driven by an 11% rise in exports, from $10.6 billion to $11.8 billion, while imports grew by 9% up to $7.8 billion for the quarter. Meanwhile, the country’s foreign exchange reserves, as at the end of June, stood at $25.5 billion – a rise of $3.8 billion from the first quarter of the year. Argentina succeeded in reducing its foreign debt slightly to $106.8 billion at end-June, from $109.2 billion at the end of March.