Argentina's trade balance closed October with a surplus of USD 800 million, Thus marking its twenty-third consecutive month with a positive balance. However, according to INDEC this week (November 19, 2025), the result showed a year-on-year drop of 14,6%, since in the same month of 2024 the surplus had reached USD 937 million.
Exports
In October, Argentine exports totaled $7.954 million, which represented a increase of 13,1% year-on-year. Growth was widespread among the large categories, with the exception of Agricultural Manufactures (MOA), which showed declines in both prices and quantities (-1,8% in both cases).
The main boost came from the sharp increase in export volumes of primary products (+71,0%) and fuels and energy (+24,3%). Meanwhile, manufactured goods of industrial origin (MOI) saw their export value rise thanks to a 9,6% price increase, which offset the slight decrease in volume (-1,3%).
As for destinationsExports to China surged (+241,4%) and to the Middle East (+11,4%), both driven by increased shipments of primary products. Significant increases were also seen in exports to the United States (+56,2%), fueled by fuels, energy, and manufactured goods, and to India (+13%), due to higher shipments of manufactured goods. In contrast, the decline in manufactured goods was reflected in decreases in exports to Brazil (-2,2%), the European Union (-1,6%), and Chile (-21,4%).
Imports
In October 2025, Argentina's imports reached 7.207 milliona year-on-year increase of 16,9% in value and a 19,7% increase in quantity, while average prices fell by 2,4%. economic useCapital goods grew by 20%, driven by higher volumes (+16,8%), intermediate goods rose by 5,7%, and fuels and lubricants increased by 3,1% despite falling prices (-19,9%) thanks to a strong increase in volume (+30,4%). Consumer goods climbed 48,8% due to a sharp increase in volume (+59,4%), while passenger motor vehicles soared 69,2% in value with almost double the number of imported units (+97,7%). Meanwhile, parts and accessories for capital goods fell slightly (-0,6%).
As for destinations of origin, Purchases increased from Brazil (3,0%), the European Union (23,2%), the United States (22,0%), India (59,0%) and China (33,7%).), reflecting a geographical diversification of imports and a greater supply of inputs, consumer goods and investment equipment.
January to October 2025
After the first ten months of 2025, Argentina's foreign trade maintained a positive performance, with an accumulated surplus of $6.846 millionDuring this period, exports reached USD 71.487 million (+8,1% year-on-year), while imports totaled USD 64.641 million (+28,9%).
Almost two years of surplus is a significant macroeconomic fact for Argentine trade, although the moderation recorded in October shows that maintaining it will be a challenge in the face of a more expensive global context, due to prices and tariffs, and more competitive due to pressure from international markets.
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