Argentina Current Account Swings to Surplus in Q2

Argentina posted a current account surplus of $2.21 billion in the second quarter of 2026, reversing a $2.45 billion deficit recorded in the same period of 2025. The result was driven by surpluses in the goods trade balance, at $9.29 billion, and secondary income, at $1.05 billion, which were partially offset by deficits in primary income, at $6.03 billion, and the services balance, at $2.10 billion. The primary income deficit widened by $2.47 billion year over year to $6.03 billion, almost entirely due to changes in investment income. As a result, Argentina recorded net lending of $2.25 billion in the second quarter of 2026.

Argentina posted a current account deficit of $1.651 billion in the first quarter of 2026, narrowing from a $5.158 billion gap a year earlier. The result reflected negative balances in the services account, at $4.028 billion, and primary income, at $4.676 billion, partially offset by a goods trade surplus of $6.339 billion and a secondary income surplus of $714 million. The year-on-year improvement was mainly supported by a $3.214 billion increase in goods exports, a $532 million reduction in the services deficit, and a $1.066 billion decline in goods imports. The secondary income account also rose by $354 million. Meanwhile, the primary income deficit widened by $1.658 billion compared with the same period last year.

Argentina posted a current account surplus of $2.294 billion in Q4 2025, swinging from a $903 million surplus in the same period last year. The goods account recorded a $6.283 billion surplus, up from a $4.919 billion surplus in Q4 2024. The primary income gap narrowed to $2.953 billion, down from $2.977 billion. Meanwhile the services account posted a $1.813 billion deficit, widening from a $1.660 billion shortfall a year earlier. The secondary income account improved, with the surplus rising to $777 million from $620 million in the same period last year.