Merchandise Trade Balance in Argentina
The merchandise trade balance in Argentina averaged USD 4.1 billion in the decade to 2022. The 2022 reading was USD 6.9 billion. For more trade information, visit our dedicated page.
Argentina Trade Chart
Argentina Trade Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Merchandise Trade Balance (USD bn) | -3.7 | 16.0 | 12.5 | 14.8 | 6.9 |
Merchandise exports rebound in January
Merchandise exports climbed 9.6% on an annual basis in January (December: -13.8% year-on-year). January’s outturn marked the best print since November 2022. Meanwhile, merchandise imports slid 14.3% on an annual basis in January (December: -15.2% yoy). As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.8 billion surplus in January (December 2020: USD 1.0 billion surplus; January 2023: USD 0.4 billion deficit). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 5.7 billion deficit in January, compared to the USD 6.9 billion deficit in December.
Commenting on the outlook, UOB’s Andrés Pérez and Diego Ciongo stated: “For 2024, we expect a trade surplus of USD 20.0 million, led by a recovery in the agriculture sector and weaker imports due to the sharp depreciation of the currency and soft activity.”
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Argentine trade projections for the next ten years from a panel of 23 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable trade forecast available for Argentine trade.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Argentine trade projections.
Want to get access to the full dataset of Argentine trade forecasts? Send an email to info@focus-economics.com.
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