Argentine Balance Commerciale

Argentina's trade surplus narrowed to USD 204 million in April 2025, down from a revised USD 1.82 billion in the same month of the previous year, and falling drastically short of market expectations of USD 1,000 million. Imports surged by 37.3% year-on-year to USD 6.46 billion, driven by significant increases in shipments of capital goods (73.4%), intermediate goods (9.6%), fuels and lubricants (15.3%), parts and accessories for capital goods (24.9%), consumer goods (77.7%), and passenger motor vehicles (204.5%). Meanwhile, exports edged 2.3% higher to USD 6.66 billion, amid sales of primary products (10.8%), and manufactured products (5.5%), being partially offset by falling sales of fuels and energy (-10.0%). For the first three months of 2025, the trade surplus fell to USD 1.265 billion, down from USD 6.208 billion in the same period of 2024.