Service exports grew 12,8% in the first half of the year, year-on-year, after five years of decline, according to a report by the consulting firm Ecolatina.
However, the study clarifies that the sector's trade deficit worsened because imports increased by 15,8% in the same period.
According to the private study, service sector exports reached their highest level in 20 years.
Exports registered a year-on-year growth of 12,8% in the first half of the year, but imports grew by 15,8% in the same comparison and consolidated a deficit increase of 20% compared to last year.
The consultancy firm said that the figures "far from being positive, show a strong red in the trade balance of services."
In the first half of the year, the sector's trade deficit reached $5.200 billion, 20% higher than the $4.300 billion of the first six months of 2016, according to the report.
The consulting firm Ecolatina analyzed that “the deficit in services during the first half of 2017 deepened” and detailed that in the first half of the year the negative balance reached US$ 5.200 billion, compared to just over US$ 4.300 billion in the same period of 2016.
The study adds that "after five consecutive years of decline, exports registered a significant increase of 13% year-on-year, a phenomenon that deserves a more detailed analysis."
Ecolatina considered that the increase is due to the contribution of tourism visiting Argentina and sales of consultancies abroad..
He points out that in the first case, the exchange rate helped the growth of 2,6% year-on-year, while in the second, the income from the sale of consulting services jumped 21,5% year-on-year.
Source: Telam
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