Argentina Balance of Trade

Last Release

Mar 31, 2024

Actual

2,059

Units In

USD Million

1,438

Frequency

Monthly

Next Release

May 21, 2024

Time to Release

29 Days 15 Hours

Highest	Lowest	Average	Date Range	Source
2,543 May 2009	-1,833 Jun 2023	257.39 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 2,059 million in March 2024, a significant improvement compared to the $1,111 million deficit in the corresponding period of the previous year. This marks the fourth consecutive positive trade balance following nine months of consecutive deficits. The surplus is attributed to a 36.7% reduction in the volume of imported goods compared to March 2023, totaling $4.335 billion due to decreased purchasing power. This decline was primarily driven by reduced purchases of fuels and lubricants (-76.6%), consumer goods (-34.1%), parts and accessories for capital goods (-30.7%), and intermediate goods (-36.9%). Conversely, exports increased by 11.5%, totaling $6.394 billion, driven primarily by heightened sales of primary goods (+27.4%), agricultural products, and raw materials (+15.7%), and fuels and energy (+19.2%).