Argentina Trade Balance Update

Argentina recorded a record US$3.5bn trade surplus in May, fueled by a 34.4% yoy surge in exports and declining imports. The energy sector significantly contributed to this strength, posting a record US$1.5bn surplus.

Key Takeaways

• 1.Argentina's trade balance hit a record surplus of US$3.5bn in May, significantly exceeding expectations.
• 2.Exports grew by 34.4% yoy, driven by strong performance in primary products, processed foods, and manufacturing.
• 3.Energy trade surplus reached a record US$1.5bn, benefiting from high global oil prices.

Table of Contents

• Argentina: Solid Trade Balance Surplus in May Supported by Strong Exports
• KEY NUMBERS (May)
• DETAILS
• Stronger Exports Support the Trade Balance but Imports Have Also Cooled
• Both the Energy and Non-Energy Balance Have Strengthened

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