Argentina recorded a trade surplus of USD 2.498 billion in November, representing a year-on-year increase of 95,6%. According to data from INDEC, this result was USD 817 million higher than in the same month of 2024 and allowed for accumulated 24 consecutive months of a positive balance in the trade balance.
Exports
In November, exports reached USD 8.096 million, with a year-on-year increase of 24,1%. The growth was explained by a strong increase in export quantities (28,0%), which compensated for the fall in prices (-3,0%).
By sector, performance was primarily driven by the dynamism of primary products (92,0%), fuels and energy (67,7%), and manufactured goods (15,0%). In contrast, agricultural manufactures showed marginal growth (1,3%), affected by lower prices (-1,6%).
As for destinations, China positioned itself as the main market, with a year-on-year growth of 274,5%, driven mainly by increased exports of primary products, especially beans. soy. Secondly, sales to the UMSCA grew by 31,4%, mainly due to increased exports of fuels and energy. Meanwhile, the European Union presented a basket concentrated in meal and pellets of soy, unalloyed aluminum and beef, while India accounted for 9,5% of total exports.
Imports
In November, imports totaled $5.598 million, with a year-on-year increase of 6,6%. The increase was explained by a growth in quantities (6,1%) and a slight increase in prices (0,4%).
By economic use, the increase was mainly due to higher import volumes of passenger motor vehicles (104,1%), consumer goods (22,3%), fuels and lubricants (16,8%), and capital goods (9,1%). Conversely, intermediate goods and parts and accessories for capital goods registered declines due to lower import volumes (-4,4% and -15,6%, respectively).
Regarding the origin of purchases, imports from the USMCA grew by 31,6%, driven by increased acquisitions of motor vehicles and capital goods. Purchases from the European Union rose by 5,3%, mainly due to higher imports of consumer goods. Meanwhile, imports from China increased by 24,3% year-on-year, driven by motor vehicles and consumer goods, while those originating in the Middle East registered a 33,5% increase, primarily due to higher purchases of fuels and lubricants.
11 Months
In the first eleven months of the year, Argentina accumulated a Trade surplus of USD 9.357 billion, with Exports amount to USD 79.592 million e Imports amount to USD 70.235 billionIn this context, the November surplus was mainly due to the sharp increase in export volume, in a context of falling international prices, which reinforces the challenge of advance in diversification and the added value to sustain foreign exchange earnings.
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