Argentina's trade balance hits historic record with US$3.5 billion surplus in May

Argentina achieved a record-breaking trade surplus of US$3.5 billion in May, marking an unprecedented figure in its historical series according to Indec data. This significant surplus resulted from a robust 34.4% year-on-year increase in exports, which reached US$9.537 billion, coupled with a 7% reduction in imports, totaling US$6.033 billion. This marks the 30th consecutive month of a trade surplus. The performance in May saw widespread export growth across major sectors. Fuel and Energy exports led the surge, increasing by 167.1% compared to the previous year and hitting a historic high. Primary Products, Agricultural Manufactures, and Industrial Manufactures also saw substantial growth, with the latter reaching its second-highest value ever recorded for a May month. In the cumulative figures for the first five months of 2026, exports rose by 24.3% year-on-year to US$40.359 billion. The accumulated trade surplus reached US$11.783 billion, already exceeding the total surplus of US$11.320 billion for the entirety of 2025. The energy trade balance also showed its best result on record, with a surplus of US$1.543 billion, driven by a significant increase in exports and a sharp decrease in imports.