The skyline in Argentina

Exports in Argentina

Argentina Exports

Merchandise exports drop at a more pronounced rate in June

Merchandise exports sank 35.4% over the same month last year in June (May: -24.1% year-on-year). June’s outturn marked the largest drop since August 2009. Meanwhile, merchandise imports dived 17.2% in annual terms in June (May: -6.3% yoy), marking the weakest result since December 2022.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.7 billion deficit in June (May 2023: USD 1.1 billion deficit; June 2022: USD 0.2 billion deficit). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 0.4 billion deficit in June, compared to the USD 1.1 billion surplus in May.

Commenting on the release, Juan Carlos Barboza and Diego Ciongo, analysts at Itaú, stated:

“Exports declined in Q2 2023, affected by the severe drought. […] Agricultural exports, including manufactured agricultural products, plummeted by 36.4% year on year in the quarter […], led by a drought-related reduction in exports of wheat, corn and soybean oil. Exports of other industrial products fell by 16.2% yoy in the period […], mostly due to smaller shipments of biodiesel.”

Argentina Exports Chart

This chart displays Exports (USD billion) for Argentina from 2013 to 2022.

Argentina Exports Data

2018 2019 2020 2021 2022
Merchandise Exports (USD bn) 61.8 65.1 54.9 77.9 88.4
Exports (G&S, ann. var. %) 0.6 9.8 -17.4 8.5 5.8
Merchandise Exports (ann. var. %) 5.3 5.4 -15.7 42.0 13.5

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest