Argentina recorded in September a Trade surplus of USD 921 billion, a positive figure but lower by USD 61 million compared to the same month in 2024, according to the National Institute of Statistics and Census (INDEC) reported this Monday (10/20/2025). The result also implied a 36% drop compared to the August surplus, which had reached USD 1.44 billion. Despite the year-on-year decrease, the country managed to chain 22 consecutive months with a positive balance in the trade balance.
Exports
In September, exports totaled $8.128 million, which represents a year-on-year increase of 16,9%, driven mainly by a 16,5% increase in exported quantities and a slight 0,3% rise in prices.
By itemsGrowth was driven primarily by primary products (up 43% in value and +46,3% in quantity) and fuels and energy (up 25% in value and +31,4% in quantity). Industrial products (up 3,5% in value and -5,2% in quantity) showed a slight increase due to better prices, although with a decline in volume.
By final destination Based on the above, China consolidated its position as the main buyer of Argentine products, with a year-on-year growth of 201,7%, driven mainly by primary products. Brazil remained the second-largest trading partner (14,4% of total exports), although sales decreased by USD 146 million compared to September 2024, due to lower shipments of industrial manufacturing (IM). The United States accounted for 8,8% of exports, with a 44,5% increase driven by fuels and energy, while India stood out as the fourth destination, with an 87,5% growth, mainly due to higher shipments of agricultural manufacturing (AM), especially crude soybean oil.
Meanwhile, exports contracted to MERCOSUR (-2,7%) and Chile (-23,4%).
Imports
Imports reached $7.207 million, a year-on-year increase of 20,7%, explained by a 21,3% increase in quantities and a slight 0,3% decrease in prices, in a context of greater trade openness and reduction of import duties.
By economic useCapital goods (up 47,7%) and consumer goods (up 45,7%) stood out, along with a strong rebound in motor vehicles (up 68,6% in value and up 81% in quantity), reflecting the recovery of the domestic market and industry. Intermediate goods grew slightly (up 1,6%), while parts and accessories for capital goods declined, and fuel and lubricant purchases increased (up 3,9% in value and up 64,4% in quantity) due to lower international prices and higher energy demand.
As for the main trading partners, imports increased from China (31,3%), Brazil (17,6%), MERCOSUR (12,5%), EU (24,0%) and USMCA (15,5%), with an increase of USD 193 million associated mainly with consumer and capital goods.
Trade balance until September 2025
In the first nine months of the year, Argentina accumulated a Trade surplus of USD 6.030 billion, with exports of USD 63.533 billion and imports of USD 57.503 billion. In 2024, the country recorded a surplus of USD 18.928 billion, following a negative balance of USD 6.925 billion in 2023.
In summary, September confirmed that Argentina maintains a surplus, driven by primary products, fuels, and capital goods, while imports grew steadily, especially in consumption and vehicles. Thus, trade balance remains stable, although with signs of slowdown in exports and greater pressure from external purchases, in a context of favorable international prices.
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
