Argentine Trade Exchange - First four months of 2025

HIGHLIGHTS:

• In the first four months of 2025, exports amounted to USD 25.4 billion, which represents a 5.8% year-on-year increase, explained by a 6.6% rise in the quantities exported that exceeded the 0.7% drop in prices.
• Imports totalled USD 24.1 billion and grew 35.7% in year-on-year terms, as a result of the 44.8% increase in imported quantities, while prices decreased 6.3%. This is mainly due to higher quantities of passenger motor vehicles, capital goods, consumer goods, and parts and accessories for capital goods.
• Consequently, the trade balance reached a surplus of USD 1.3 billion, whereas in January-April 2024 a positive balance of USD 6.2 billion had been recorded.

• Prominent are the increases in exports of crude soybean oil (USD 639 million), crude petroleum oils (USD 451 million), unwrought gold (USD 421 million) and sunflower oil (USD 121 million); while the largest falls were observed in soybean flour and pellets (‐USD 408 million), wheat (‐USD 226 million) and soybean oil, excluded crude (‐USD 108 million).
• In relation to the soybean complex, the prices of flour and pellets (‑22.7%) and beans (‑12.4%) dropped, while those of crude oil (17.5%) rose. As for the quantities exported, those of crude oil (25.0%) and flour and pellets (12.0%) increased, and those of beans (‑20.1%) fell. No biodiesel exports were recorded in the first four months of 2025.
• Regarding imports, the most significant increases occurred in the purchases of chassis, parts and tyres (USD 602 million), vehicles for the transport of persons (USD 744 million) and telephone parts (USD 277 million); while those of natural gas in gaseous state (‑USD 189 million), soybeans (‑USD 177 million), and agglomerated iron ores by pelletisation process (‑USD 86 million) fell.

• The main export destinations were Brazil, with a 14.9% share; Chile, 9.0%; the United States, 8.7% and the EU, 8.5%. In turn, the most outstanding origin of imports were Brazil, 24.3% of total imports; China, 23.9%; the EU, 14.3%, and the United States, 8.6%.
• The largest surpluses were obtained in trade with Chile (USD 2.0 billion), India (USD 1.0 billion), Peru (USD 784 million), Saudi Arabia (USD 681 million) and Switzerland (USD 560 million); while the main deficits were registered with China (‑USD 4.4 billion), Brazil (‑USD 2.1 billion) and Germany (‑USD 809 million).

Read the full report in Spanish here (with highlights in English).