Argentina Trade Surplus Hits US$11.7 Billion in Five Months of 2026

Argentina's trade surplus reached US$11.7 billion in the first five months of 2026, surpassing the entire earnings from foreign trade in all of 2025, according to the national statistics agency INDEC. This impressive figure is primarily driven by a surge in fuel and energy exports, which increased by 167% year-on-year in May 2026.

This growth is attributed to the record oil production of 861,000 barrels per day, marking a new historical high for Argentina. New pipelines and a planned liquefied natural gas terminal are facilitating exports that were once consumed domestically. While agriculture remains the largest source of foreign currency, energy exports are now the fastest-growing segment, reducing dependency on the harvest cycle.

The trade surplus is complemented by a strict fiscal policy, with the 2026 budget aiming for a primary surplus of 1.5% of GDP. The government's ambitious goal of three consecutive years of financial surplus by 2026 has never been achieved in the country's modern history.