Mining boom: Gold and silver, with 45% of exports, break a historic record

Argentine exports reached a historic level in the first half of 2025, reflecting the economic shift under President Javier Milei's administration. According to official figures from the National Institute of Statistics and Censuses (Indec), external sales from the main sectors totaled USD 39.742 billion, 4% more than in the same period last year, despite a decline in international prices (-0.8%). The dynamism came from an increase in exported quantities (+4.9%), a clear sign of an economy that is starting to produce more and better.

Within this general outlook, the mining sector emerged as one of the fastest-growing and most strategically relevant sectors. In the first six months of the year, gold and silver became leading players, achieving record figures for Argentina's foreign trade.

According to the Indec report, gold and silver exports totaled USD 2.234 billion between January and June, representing a year-on-year increase of 45.8% compared to the USD 1.532 billion recorded in 2024. This jump marked the best performance since the series began in 2002 and raised this sector's share to 5.6% of total national exports, compared to 4% a year ago.

The breakdown shows the strong predominance of gold: 86.6% of shipments correplied to non-monetary raw gold, while the remaining 13.4% was explained by silver minerals, concentrates, and raw silver. Among the main destinations were the United States (USD 533 million) and India—whose specific amount remains under statistical secrecy—while silver found its main market in China and the European Union, with transactions totaling USD 100 million.

This "mining boom" was not limited to gold and silver. The metals and lithium sector as a whole reached USD 3.556 billion in external sales, with a year-on-year increase of 21.6%. Lithium, a key mineral in the global energy transition, recorded growth of 34.4%, while other metallic minerals advanced 52.4%. Indec highlighted that the mining sector accounted for 9% of total national exports, compared to 7.7% the previous year.

Although there were slight declines in aluminum (-11.6%) and steel (-20.0%), the overall balance was the highest in more than two decades. Gold, silver, and lithium have confirmed a process of sustained expansion over the past three years, establishing themselves as strategic pillars of the new export matrix.

In the general context, the report also highlighted positive performances in other sectors, such as sunflower, beef, and fishing. The latter achieved a record of USD 1.067 billion in the semester, after growing 9.5% year-on-year.