Argentina’s Central Bank forecasts a doubling of the country’s trade surplus from 2024 to 2030, primarily due to an anticipated rise in hydrocarbon and mining exports.
The projected trade surplus is set to represent 5.2% of the GDP by 2030, up from 3.9% in 2024, reaching US$41.8 billion.
A significant growth in fuel exports is expected, especially from unconventional sources of crude oil, aided by improved transportation infrastructure.
Fuel exports are predicted to increase from US$10.4 billion in 2024 to US$36.7 billion in 2030.
Thanks to several new lithium, gold, and silver projects, mining exports are also predicted to rise from US$6.1 billion in 2024 to US$15.6 billion in 2030.
Agricultural sector performance is projected to rebound following a drought in the year’s first half.
Meanwhile, industrial goods exports are expected to grow from US$37.7 billion to US$54.5 billion between 2024 and 2030, largely driven by the automotive and petrochemical sectors.
In 2023, Argentina experienced a trade deficit due to drought effects and restrictions on dollar access for import payments amid efforts to boost exports and accelerate foreign currency inflow.