UPDATE 1-Argentine June trade surplus below market view

* Monthly trade surplus shrinks 19 percent year-on-year

* Imports rising briskly as economy rebounds
(Adds import, export details, analyst)

BUENOS AIRES, July 23 (BestGrowthStock) – Argentina’s trade surplus
narrowed by 19 percent in June from the same month a year ago,
falling short of market expectations as brisk economic growth
fueled demand for imports, according to official data released
on Friday.

The government said the surplus narrowed to $1.29 billion,
down from $1.59 billion in June 2009, when the impact of the
global economic slowdown sapped demand for imported goods.

The median outlook of a Reuters poll of seven analysts was
for a surplus of $1.53 billion — a decline of 4 percent.

National statistics agency INDEC said exports rose 22
percent while imports surged by 40 percent, driven by increased
demand for fertilizer, iron-ore and car parts.

Analysts have said the rebound in factory activity and
consumer demand is lifting imports. In May, the trade surplus
slimmed 25 percent to $1.91 billion.

“Imports are starting to recover as the economy is peaking
and, therefore, it is starting to cut into the trade surplus,
but imports are still regaining levels seen previous to the
global crisis,” the 4Cast research group said in a briefing
note.

Investment Advice

(Reporting by Helen Popper; Editing by Paul Simao)
([email protected]; +54 11 4318 0655; Reuters
Messaging: [email protected]))

UPDATE 1-Argentine June trade surplus below market view