Argentine Trade Exchange - January 2025

HIGHLIGHTS

• In the first month of the year, exports totalled USD 5.9 billion, which accounts for a 9.1% year-on-year increase, which is explained by a 12.5% increase in the quantities exported that exceeded the 2.9% drop in prices.
• Imports totalled USD 5.8 billion and were 24.6% higher than in January of the previous year, resulting from the 37.0% increase in imported quantities, whereas prices decreased 9.0%. This is mainly due to the higher quantities of imported capital goods and their parts and accessories, as well as of consumer goods. Prominent is also the increase in foreign purchases of passenger motor vehicles owing to higher prices and quantities. In contrast, imports of fuels and lubricants dropped, after falls in both prices and quantities.
• The trade balance reached a surplus of USD 142 million, USD 642 million below the surplus reached during January 2024.

• The increases in exports of crude petroleum oils (USD 236 million), soybean oil (USD 191 million), unwrought gold (USD 180 million) and corn (USD 132 million) stand out, while the largest drop occurred in shipments of vehicles for the transport of goods (-USD 103 million).
• In relation to imports, the largest purchases correspond to parts of telephones (USD 91 million), calcined alumina (USD 54 million) and immunological products (USD 53 million). On the contrary, purchases of gas turbine parts (-USD 56 million), urea with nitrogen content (-USD 40 million) and natural gas in the gaseous state (-USD 40 million) decreased.

• The main destinations of exports were Brazil (with a 13.1% share), Chile (10.1%), the United States (9.4%) and the EU (7.7%); and the origins of the most prominent imports were China (26.7% of the total imported), Brazil (21.8%), the EU (15.3%) and the United States (8.9%).
• The largest surpluses were obtained in trade with Chile (USD 500 million), Peru (USD 195 million), India (USD 193 million), Saudi Arabia (USD 165 million) and Bangladesh (USD 155 million); while the main deficits were registered with China (‑USD 1,250 million), Brazil (‑USD 481 million), Germany (‑USD 236 million) and Thailand (‑USD 120 million).