BUENOS AIRES, Nov 25 (Reuters) - Argentina’s trade surplus narrowed 39.2 percent in October from the same month a year earlier to $361 million, the government said on Tuesday, missing by far even the lowest forecast in a Reuters poll.
The median forecast in a Reuters poll of five analysts was for a surplus of $800 million, with estimates ranging from $609 million to $850 million.
President Cristina Fernandez’s government relies on the surplus to boost dollar supplies on the tightly controlled currency market. Foreign reserves fell to eight-year lows earlier this year.
The trade surplus however has now narrowed for two consecutive months. (Reporting By Sarah Marsh; Editing by Richard Lough)