This year, the annual growth rate during the first semester was 7.6%, which is the highest for the first 6 months of a year since we have had quarterly data at our disposal. A situation where economic growth surpasses its historic average and the GDP gap that keeps positive represents a serious risk of inflation. This demand pressure is also visible in our imports.
Nominal imports in dollars have increased at an average annual rate of 34% since 2006. This is much higher than the 7.7% average growth observed since 1994. Nominal exports in dollars have soared as well, but less than imports. This means the current account deficit has risen every quarter since 2006.