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• September 2018

Deceleration expected in the next quarters 

GDP was recovered in 2017, after a decrease in 2016, achieving an annual growth rate of 2.9%. But in the first quarter of 2018 a deceleration was reported YoY, activity expanded by 3.6% versus 3,9% in the fourth quarter of 2017 and 3.8% in Q3 2017.

Expectation for the upcoming quarters is a further deceleration with preliminary figures of 2018 second quarter with a deterioration of economic scenario. Growth in 2018 continues to be undetermined due to the worst drought in decades affecting agricultural activities, especially soya crops, combined to strong depreciation of Argentinean pesos against US dollars -50% in the first half of 2018 YoY. Household consumptions, public expenses and investments will decelerate in response to a tighter fiscal policy.

Source: COFACE

Top export destinations are:                    Top import origins are:

1) Brazil 15%                                                             1) Brazil 24%

2) United States 7.9%                                                 2) China 19%

3) China 7.5%                                                            3) United States 13%

4) Vietnam 4.3%                                                        4) Germany 5.3%

5) Chile 4%                                                                5) Mexico 3.4%

Source: https://atlas.media.mit.edu

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