The trade balance recorded a surplus of USD 227 million in February.

The trade balance of Argentina closed February with a surplus of 227 million dollars, accumulating 15 consecutive months with a positive balance, according to data from the National Institute of Statistics and Censuses (INDEC).

The decrease compared to previous months is mainly due to a 42.3% year-on-year increase in imports, which reached USD 5.864 billion, while exports grew by 10.1%, totaling USD 6.092 billion.

In the accumulated first two months, the trade balance was positive at 389 million dollars, where imports increased by 33%, totaling USD 11.617 billion, while exports rose by 9.9%, reaching USD 12.006 billion.

The rebound in imports is linked to the notable economic recovery observed since the second half of 2024, which caused a greater demand for productive inputs.

Faced with the reduction in the trade surplus, the Government of Javier Milei implemented a reduction in export duties with the aim of encouraging settlements and ensuring the acquisition of foreign currency.

According to INDEC, the increase in imports was due to a 55.4% growth in quantities, while prices decreased by 8.5%. The report also highlighted that door-to-door purchases abroad (couriers) involved an expenditure of USD 28 million.

The most relevant imports included passenger motor vehicles (94.8%), capital goods (77.9%), consumer goods (77.4%), and energy (21%).

Regarding exports, the 10.1% increase is broken down into a 12% increase in quantities, with a decrease in prices of 1.6%. Industrial origin manufactures grew the most, with a rise of 15.4%, followed by agricultural origin (12.9%) and energy (12.6%).

GDP Grows

Meanwhile, the Gross Domestic Product (GDP) experienced a 2.1% growth in the fourth quarter of 2024 compared to the same period of the previous year, according to INDEC data.

In seasonally adjusted terms, the economy advanced by 1.4% compared to the previous quarter, consolidating the notable recovery after the declines recorded in previous periods due to the economic crisis inherited from Kirchnerism.

Private consumption also showed an improvement, with a 2.8% increase, while public consumption registered a slight 0.5% advance in the same period.

At the sectoral level, the best-performing sectors were Hotels and restaurants, with an 18.1% year-on-year increase, and Financial intermediation, which grew by 8.4%.