In January 2025, Argentina recorded a trade surplus of USD 142 million, which represents a sharp drop compared to the same period in 2024, when the positive balance had been USD 797 million.
Despite this drop, the country accumulated fourteen consecutive months of positive balance in the trade balance, according to the INDEC technical report released on Tuesday (18.02.2025/XNUMX/XNUMX)
Exportations
In January, Argentina exported goods for USD 5.890 million, This represents an increase of 9,1% compared to the same month in 2024. This growth was explained by a 12,5% increase in quantities sold, despite a 2,9% drop in prices.
All sectors showed increases, except primary products, which fell by 5,4% due to a 11,7% drop in prices, although export quantities grew by 7,2%. Increases in exports of Fuels and Energy stood out (CyE) (+33,7%) and Manufactures of Agricultural Origin (MOA) (+17,5%).
In January 2025, the Top ten exported products represented the 60,1% of the total:
- Soy flour and pellets (11,3%)
- Corn kernels (9,4%)
- Crude petroleum oils (9,1%)
- Crude soybean oil (8,0%)
- Wheat and meslin (7,5%)
- Gold for non-monetary use (5,7%)
- Cargo vehicles (2,6%)
- Frozen beef (2,3%)
- Barley grain (2,2%)
- Fuels and lubricants for ships and aircraft (2,0%)
As for export destinations, sales to Brazil (-10,1%) and China (-37,7%) decreased, while sales to the European Union (0,6%), the United States (24,7%) and Chile (43,8%) increased.
Imports
Imports totaled $5.748 million, up 24,6% compared to the same month in 2024, driven by a 37,0% increase in quantities, while prices decreased by 9,0%. All uses registered increases, except fuels and lubricants (F&L).
The largest purchases in terms of quantity stand out: Capital goods (BK), with an increase of 56,7%, Parts and accessories for capital goods (PyA), with an increase of 52,6%, and Consumer goods (BC), which grew by 45,7%.
On the other hand, imports of fuels and lubricants (CyL) registered a fall of 24,5%.
In January 2025, the Top ten imported products represented the 12,9% of the national total. Below they are detailed together with their share in total imports:
- 8517.79.00 – Parts of telephones and apparatus for transmission or reception nec: 2,0%
- 3002.15.90 – Immunological products, in dosed doses or put up for retail sale nec: 1,8%
- 8703.22.10 – Motor vehicles for the transport of people, with a cylinder capacity greater than 1.000 cm³ and up to 1.500 cm³, with a capacity of up to 6 people: 1,4%
2818.20.10 – Calcined alumina: 1,3% - 8703.21.00 – Motor vehicles for the transport of passengers, with a cylinder capacity of up to 1.000 cm³ (PO): 1,2%
- 8708.40.80 – Gearboxes for motor vehicles nec: 1,1%
- 8703.23.10 – Motor vehicles for the transport of people, with a cylinder capacity greater than 1.500 cm³ and up to 3.000 cm³, with a capacity of up to 6 people: 1,1%
- 8704.31.90 – Motor vehicles for the transport of goods, with spark-ignition internal combustion piston engine, with a total laden weight of up to 5 tonnes, nec: 1,0%
- 2710.19.21 – Diesel (gasoil): 1,0%
- 8708.29.99 – Parts and accessories of automobile bodies for the transport of persons, goods or special uses, nec: 1,0%
As for markets, purchases from Brazil (40,3%), China (51,5%) and Chile (102,1%) experienced an increase. On the other hand, imports from the European Union decreased by 0,6% and those from the United States fell by 3,9%.
In summary, despite the sharp decline in the trade surplus in January 2025, Argentina managed to maintain fourteen consecutive months with a positive balance in its trade balance, driven by the growth of exports and the recovery in import demand. The performance of sectors such as Manufactures of Agricultural Origin and Fuels and Energy highlighted the start of the year in Argentine foreign trade. (Argentine trade in goods – Estimated figures for January 2025)
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