Argentina's exports quintuple in first half, June posts nearly US$2.2 billion trade surplus

Argentina's foreign trade registered a significant surplus of nearly US$2.2 billion in June, extending a streak of positive balances to 31 consecutive months. Exports in June climbed 24.5% year-on-year to US$9.055 billion, while imports rose 7.3% to US$6.861 billion. This surplus marks the highest for a June month since 2022, according to the latest report from Indec.

The total trade of goods reached US$15.916 billion in June, an increase of 16.4% from the previous year. This figure represents the highest value since August 2022, indicating a heightened intensity in Argentina's foreign trade activity. For the cumulative period of January to June 2026, exports totaled US$49.454 billion, a 24.4% increase compared to the same period in 2025. Imports, however, saw a decrease of 3.9%, totaling US$35.531 billion.

Consequently, the accumulated trade surplus for the first half of 2026 reached US$13.923 billion, which is five times greater than the surplus recorded in the first half of 2025. This strong performance in the external accounts is a significant factor in Argentina's current economic strength. The increase in June exports was attributed to both favorable international prices, which rose 16.5%, and a growth in exported quantities, which increased by 6.8%. This suggests Argentina benefited from a more supportive international market for key products and successfully boosted its external sales.

While imports grew in value by 7.3%, the volume of goods purchased from abroad decreased by 3.8%, with prices increasing by 11.6%. This indicates that the rise in import value was primarily driven by higher prices for imported goods. The largest increase was seen in fuels and lubricants, up 126.3%, due to increased purchases of liquefied natural gas, gasoil, and electricity. Conversely, imports of capital goods and spare parts continued to decline, reflecting moderate productive investment. Purchases of intermediate goods, essential for production, increased by 9.5%. The report notes a shift in import trends, suggesting it is no longer advantageous to stockpile merchandise, a dynamic observed in the year prior to the mid-term elections.