Argentina Trade Surplus Narrows in October

Argentina’s trade surplus rose to USD 1,892 million in December 2025, up from USD 1,682 million a year earlier. Imports rose 3.5% year-on-year to USD 5,556 million, driven by a 3.0% increase in quantities and a 0.4% rise in prices. Meanwhile, exports rose 5.7% to USD 7,448 million, led by a 6.2% increase in quantities despite a 0.5% decline in prices. For the year-to-date through December 2025, the trade surplus stood at USD 11,286 million, down from USD 18,928 million in the same period of 2024.

Argentina’s trade surplus widened to $2.50 billion in November 2025 from $1.28 billion a year earlier. Exports surged 24.1% year-on-year to $8.10 billion, driven by an 87.1% jump in shipments of primary products, a 52.8% rise in fuels and energy exports, and a 14.5% increase in industrial manufactured goods. In contrast, exports of agricultural manufactured goods edged down 0.4%. Imports rose 6.6% to $5.60 billion, led by a sharp 68.1% increase in passenger car purchases and a 23.6% rise in consumer goods. Imports of capital goods advanced 13.1%, while those of fuels and lubricants increased 12.9%. Meanwhile, imports of capital goods parts and accessories fell 13.4%, and intermediate goods declined 4.1%.

Argentina’s trade surplus shrank to USD 800 million in October 2025, down from USD 912 million a year earlier. Imports rose 16.9% year-on-year to USD 7,154 million, driven by notable increases in intermediate goods (5.7%), consumer goods (48.8%), passenger motor vehicles (69.2%) and capital goods (20%). Meanwhile, exports rose 13.1% to USD 7,954 million, led by gains in primary products (63.8%) and industrial manufactures also expanding (8.1%), while agro-industrial manufactures (-3.5%) contracted. For the year-to-date through October 2025, the trade surplus stood at USD 6,846 million, down from USD 15,969 million in the same period of 2024.