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Argentina's trade surplus jumps in 2012


13:51, January 24, 2013

BUENOS AIRES, Jan. 23 (Xinhua) -- Argentina's trade surplus jumped 26.7 percent last year due to tightened restrictions on imports, according to official figures released Wednesday.

Trade surplus reached 12.69 billion U.S. dollars in 2012, higher than the 10.35 billion and 11.72 billion dollars posted respectively in 2011 and 2010, the National Institute of Statistics and Census (INDEC) said.

Exports fell 3 percent, while imports dropped 7 percent, according to the institute.

Some analysts attributed the big increase in surplus to tightened restrictions on imports imposed by the government, under which the purchase of foreign capital goods dropped 16 percent in 2012, and the import of intermediate goods fell 4 percent.

Argentina's trade with its largest trading parter, the Southern Common Market, accounted for about 28 percent in 2012, the INDEC said.

The bloc groups Brazil, Uruguay, Paraguay (currently suspended) and Venezuela.

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