Argentina's exports set to top US$100 billion this year, LCG says

Buenos Aires consultancy LCG is forecasting record-breaking exports for Argentina in 2026, projecting the figure to surpass US$100 billion. This is an increase of US$16.6 billion from last year and a significant leap from the previous high of US$88.85 billion in 2022. The trade surplus is expected to exceed US$20 billion, almost double last year's US$11.32 billion surplus.

The growth in exports is anticipated across Argentina's four primary sectors, with agriculture, energy, and mining leading the charge. Agriculture, specifically maize, is set to grow by more than 50%, driven by a projected 44 million tonne harvest. This increase is projected to add US$3 billion to the overall export figures. Wheat exports are also expected to rise nearly 40% due to higher volumes and improved international prices.

The agricultural and livestock sector, encompassing manufactured products, will contribute 25% to the export growth. This is fueled by a 34% surge in soybean oil exports, reaching US$8.5 billion due to rising global prices. Energy sector exports will contribute another quarter of the increase, with crude oil exports swelling from US$6.7 billion to over US$9 billion.

This surge is attributed to heightened Middle East tensions, coupled with a 30% rise in oil prices. Lithium exports will climb by an impressive 154%, from US$842 million to around US$2.1 billion, as mining ventures come online.

Gold exports are also poised for growth, driven by higher international prices. However, LCG warns that translating this export boom into local employment will be the medium-term challenge.