Argentina Balance of Trade

Last Release

Nov 30, 2024

Actual

1,234

Units In

USD Million

888

Frequency

Monthly

Next Release

Jan 20, 2025

Time to Release

1 Months 0 Days 21 Hours

Highest	Lowest	Average	Date Range	Source
2,656 May 2024	-1,833 Jun 2023	270.85 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 posted a trade surplus of USD 1.234 billion in November 2024, a sharp turnaround from the USD 559 million deficit recorded a year earlier and well above the estimated USD 700 million surplus. This marks the twelfth consecutive month of positive trade balance after nine months of deficits. The surplus was driven by a 31.6% surge in exports to USD 6.479 billion, led by strong sales of agricultural products and raw materials (56.9%), manufactured goods (15%), and agricultural goods (55.1%). Meanwhile, imports declined 4.3% to USD 5.245 billion, reflecting reduced shipments of intermediate goods (-13.4%), accessories for capital goods (-5.3%), and fuels and lubricants (-67.6%).