Argentine Trade Exchange - Year 2024

Highlights

• In 2024, exports totalled USD 79.7 billion, representing a year-on-year increase of 19.4%, explained by a 26.7% rise in the quantities exported, which exceeded the 5.8% drop in prices.
• Imports amounted to USD 60.8 billion and fell by 17.5% year-on-year, due to falls of 4.0% and 14.0% in prices and quantities imported, respectively. This is mainly due to lower prices of intermediate goods, fuels and lubricants, and to decreases in imported quantities of fuels and lubricants, parts and accessories for capital goods, intermediate goods and capital goods. On the other hand, imports of motor vehicles rose, due to an increase in quantities.
• As a result, the trade balance reached a surplus of USD 18.9 billion, when in 2023 a USD 6.9 billion deficit had been recorded.

• Prominent are the increases in the exports of soybean meal and pellets (USD 2.6 billion), crude soybean oil (USD 1.9 billion), crude petroleum oils (USD 1.6 billion) and wheat (USD 1.3 billion, mainly to Brazil and Indonesia), while the biggest falls were in lithium carbonates (-USD 193 million), virgin olive oil (-USD 177 million), barley grain (‑USD 154 million), and unwrought silver (-USD 133 million).
• As regards the soybean complex, the prices of meal and pellets (-21.2%), beans (‑20.7%), biodiesel (‑15.4%) and crude oil (-12.1%) fell, while the quantities exported of beans (147.3%), crude oil (76.0%), meal and pellets (67.7%) and biodiesel (34.7%) surged.
• As for imports, the most significant falls were in purchases of soy beans (‑USD 2.4 billion), gas oil (‑USD 1.2 billion) and liquefied natural gas (-USD 1.1 billion), while purchases of vehicles for the transport of persons (USD 1.0 billion) and goods (USD 317 million) rose.

• The main export destinations were Brazil, with a share of 17.1%, the EU, 10.3%, the United States, 8.1% and Chile, 7.9%. On the other hand, the most important import origins were: Brazil, with 23.6% of total imports, China, 19.2%, the EU, 14.8%, and the United States, 10.2%.
• The largest surpluses were obtained in trade with Chile (USD 5.6 billion), India (USD 2.6 billion), Vietnam (USD 2.5 billion), Peru (USD 2.2 billion) and Saudi Arabia (USD 1.4 billion); while the main deficits were recorded with China (-USD 5.6 billion), Paraguay (-USD 1.9 billion) and Germany (-USD 1.8 billion).