FX.co ★ Argentina Trade Surplus Shrinks in May

In May 2025, Argentina experienced a reduction in its trade surplus, which decreased to USD 608 million from a revised USD 2.64 billion in May the previous year. This result fell below the anticipated market expectations of USD 859 million. The surge in imports, which rose by 29.4% year-on-year to USD 6.49 billion, was primarily driven by substantial increases in the importation of capital goods at 69.0%, intermediate goods at 1%, parts and accessories for capital goods at 32.7%, consumer goods at 75.1%, and passenger motor vehicles at 160.1%. Conversely, exports saw a decline of 7.4%, dropping to USD 7.1 billion. This was due to reduced sales in primary products by 1.4%, agricultural manufactured products by 11.3%, and fuel and energy by 29.2%, though there was a slight increase in manufactured products at 2.1%. Over the first five months of 2025, the overall trade surplus decreased significantly to USD 1.883 billion from USD 8.862 billion in the corresponding period of 2024.