Argentina: Merchandise exports accelerate in December
Latest reading: Merchandise exports shot up 33.4% on an annual basis in December (November: +32.5% year-on-year). December’s result marked the most robust expansion since April 2022. Agricultural and fuel exports drove the reading, likely linked respectively to improved weather conditions and gas output from the Vaca Muerta field. Meanwhile, merchandise imports shot up 26.2% on an annual basis in December (November: -4.2% yoy), marking the strongest result since August 2022.
As a result, the merchandise trade balance improved from the previous month, recording a USD 1.7 billion surplus in December (November 2024: USD 1.3 billion surplus; December 2023: USD 1.0 billion surplus). Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a USD 18.9 billion surplus in December, compared to the USD 18.3 billion surplus in November.