Argentine trade surplus shrinks sharply in April, misses f'casts

viernes 22 de mayo de 2015 15:06 GYT

BUENOS AIRES May 22 (Reuters) - Argentina said on Friday its trade surplus plunged 69.2 percent in April from the same month a year earlier to $252 million, sharply undershooting market expectations.

The median forecast in a Reuters poll of analysts was for a drop in the surplus to $698 million from $818 million in April 2014.

President Cristina Fernandez's government relies on the surplus to boost dollar supplies on the tightly controlled currency market.

Exports fell 19 percent, far outpacing a 12 percent fall in imports, the economy ministry data showed. (Reporting by Sarah Marsh and Eliana Raszewski; Editing by Meredith Mazzilli)