FX.co ★ Argentina Trade Surplus Narrows in Marchs

In March 2025, Argentina's trade surplus significantly decreased to USD 323 million, compared to a revised figure of USD 2.16 billion in the same period the previous year. This outcome was notably below market forecasts, which anticipated a surplus of USD 800 million. The marked increase in imports, which rose by 38.7% year-on-year to reach USD 6.0 billion, was a significant contributor to this narrowing of the surplus. The surge in imports was primarily due to a rise in the acquisition of capital goods (74.1%), intermediate goods (6.1%), fuels and lubricants (71.6%), parts and accessories for capital goods (37.3%), consumer goods (75.7%), and passenger motor vehicles (107.0%). Meanwhile, exports experienced a decline of 2.5%, amounting to USD 6.33 billion, with notable downturns in the sales of primary products (-16.1%) and fuels and energy (-13.5%). Over the first quarter of 2025, the trade surplus totaled USD 761 million, a stark drop from the USD 4.4 billion recorded in the same timeframe in 2024.