UPDATE 1-Argentina trade surplus shrinks 34 pct in July

* Argentine trade surplus shrinks 34 pct yr/yr

* Imports jump 43 percent, exports climb 22 percent
(Adds details on exports and imports, background)

BUENOS AIRES, Aug 24 (BestGrowthStock) – Argentina’s trade surplus
(ARTBAL=ECI: ) shrank 34 percent in July from the same month a
year ago to $883 million as import growth far outstripped that
of exports, the government said on Tuesday,

The figure was well below the median forecast given by
seven analysts in a Reuters poll for a surplus of $1.26
billion.

Exports rose 22 percent to $6 billion, led by increased
shipments abroad of oilseeds and grains following a record soy
and corn harvest. Exports also climbed on booming auto sales to
neighboring Brazil.

But imports climbed 43 percent to $5.12 billion, driven by
purchases of intermediate and capital goods.

Latin America’s No. 3 economy is rebounding from a sharp
slowdown last year triggered by the global economic crisis.
Economic activity (AREAI=ECI: ) jumped 11.1 percent in June from
the same period a year earlier, the government reported on
Friday.

The country’s trade surplus widened by about 35 percent in
2009 to $16.89 billion as imports plunged.

UPDATE 1-Argentina trade surplus shrinks 34 pct in July