The rise in the price of oil in the international market, in the midst of tension in the Middle East and the closure of the Strait of Hormuz, is creating an unprecedented opportunity for the Argentine economy.
With a barrel of crude oil around USD 100 and prospects of remaining at high levels over the coming months, the country is heading for a strong increase in its exports.
Projections indicate that foreign oil sales could rise from USD 12.5 billion to approximately USD 17 billion, representing a significant jump driven by the new global context.
This growth in the energy sector is complemented by an improvement in agricultural exports, which are also benefiting from the sustained increase in international prices, with an additional contribution estimated at USD 1 billion.
The result of this scenario is overwhelming, since Argentina could exceed USD 100 billion in total exports for the first time in its history. This is an objective that has long been mentioned in the past, but it has never been achieved.
