Crude oil has become the main export product of Argentina for the first time, consolidating the growth of the energy sector driven by the development of Vaca Muerta and the sustained increase in production. According to a report from the Instituto Argentina Grande (IAG), prepared with data from Indec, crude oil generated USD 4.693 million during the first half of 2026, displacing soybean meal and corn, which historically topped the export ranking.
Crude oil represented 9.5% of all Argentine exports between January and June and recorded a year-on-year growth of 47.7%, reflecting the strong dynamism of the energy sector in a context of macroeconomic stability and increased investments.
Oil surpassed soy and corn
During the first half of 2025, oil had generated exports of USD 3.177 million. Just a year later, the increase was USD 1.516 million, enough to reach the top spot among the most sold products abroad.
The main destinations for Argentine oil were the United States, Chile, Thailand, Australia, and Uruguay, markets that increased their purchases thanks to the rise in national production.
In second place was corn grain, with exports of USD 4.171 million, while soy meal and pellets took third place with USD 4.161 million, losing the leadership they had maintained for years.
Vaca Muerta drives a structural change
The growth of oil is mainly due to the development of Vaca Muerta, which continues to increase its production and transform the country's export matrix.
The report also highlights that the energy sector is going through a historic moment. According to Indec, during the first half of 2026, the trade balance of fuels and energy recorded a surplus of USD 5.076 million, 61.7% higher than that recorded in the same period of 2025.
Energy exports reached USD 6.594 million, while imports totaled USD 1.518 million, consolidating the sector as one of the main generators of foreign currency for the Argentine economy.
Within that performance, crude oil accounted for more than 71% of all energy exports, followed by gasoline, liquefied butanes, and propane.
