Argentina Balance of Trade

Last Release

Oct 31, 2024

Actual

888

Units In

USD Million

981

Frequency

Monthly

Next Release

Dec 18, 2024

Time to Release

26 Days 20 Hours

Highest	Lowest	Average	Date Range	Source
2,656 May 2024	-1,833 Jun 2023	269.67 USD Million	1957-2024	N/A

Argentina has recorded trade surpluses from 2001 to 2014 and in 2016, mostly due to exports of agricultural products. In 2017 and 2018, the balance returned to deficit due to slowdown in exports growth and higher imports. Main exports are: cereals, fats and oils, beef and related products and dairy products (36 percent of total exports), motor vehicles and parts (12 percent); chemicals and related products (7 percent) and crude oil and fuels (5 percent). Main imports are: intermediate goods (29 percent of total imports), parts and accessories for capital goods (20 percent), capital goods (19 percent), fuels and lubricants (13 percent) and motor vehicles (8 percent). Main trading partners are: Brazil (21 percent of total exports and 29 percent of imports), China (7 percent of exports and 14 percent of imports) and United States (5 percent of exports and 10 percent of imports). Others include: Chile, Italy and Spain.

Latest Updates

Argentina recorded a trade surplus of USD 888 million in October 2024, a significant rebound from the USD 442 million deficit observed in the same period the previous year, but missing estimates of a USD 1,137 million surplus. This marks the eleventh consecutive month of a positive trade balance, following nine months of deficits. The surplus is largely attributed to a 30% surge in exports, while imports grew by 4.9%. Exports from Argentina totaled USD 7,016 million driven by increased sales of agricultural products and raw materials (69.7%), manufactured products (22.4%), primary goods (1.8%), and fuels and energy (2.9%). Meanwhile, imports rose to USD 6,128 million driven by increased shipments of intermediate goods (8.4%), capital goods (16.1%), accessories for capital goods (3.5%), and consumer goods (18.4%).