Argentine Trade Exchange - First quarter of 2026

HIGHLIGHTS

• In the first three months of 2026, exports totalled USD 21.9 billion, which implies a year-on-year growth of 16.9%, as a result of rises in both exported quantities and prices (12.8% and 3.6%, respectively).
• Imports accounted for USD 16.4 billion and fell 7.3% year-on-year, as imported quantities dropped 10.6%, while prices increased 3.7%. This is mainly explained by the lower amounts of capital goods (-15.0%) and their parts and accessories (-32.4%).
• As a result, the trade balance recorded a surplus by USD 5.5 billion, when in the January-March 2025 period a positive balance of USD 1.1 billion had been recorded.

• The increases in the exports of wheat (USD 673 million), unwrought gold (USD 637 million) and sunflower seeds (USD 326 million) stand out; whereas the largest falls occurred in soybean flour and pellets (‑USD 290 million), soybean oil (-USD 245 million) and maize (-USD 143 million).
• In relation to the soybean complex, the prices of flour and pellets shrank (‑2.2%), while those of crude oil (6.2%) and beans (0.9%) increased. As for the quantities exported, those of beans (171.2%) went up and those of crude oil (22.1%) and flour and pellets (13.1%) went down.
• Regarding imports, the most representative rises were observed in the purchases of vehicles for the transport of persons (USD 324 million), soybeans (USD 198 million) and smartphones (USD 98 million); in contrast, those of chassis, parts and tyres (-USD 410 million), diesel (-USD 179 million), telephone parts (‑USD 162 million) and road tractors for semi-trailers (-USD 104 million) dropped.

• The main destinations for exports were Brazil, with a 12.5% share, the United States (10.1%), the EU (9.3%), and China (8.1%). In turn, the most prominent origins of imports were China, which accounted for 24.3% of the total, Brazil (21.6%), the EU (13.9%) and the United States (8.7%).
• The largest surpluses were obtained in trade with India (USD 1.1 billion), Chile (USD 1.0 billion), the United States (USD 778 million), Vietnam (USD 688 million) and Switzerland (USD 495 million); whereas the main deficits were recorded with China (-USD 2.2 billion), Brazil (-USD 814 million) and Paraguay (-USD 567 million).