The country has amassed a $17.198 billion trade surplus in the first eleven months of 2024. The National Institute of Statistics and Census (INDEC) reports a significant shift in trade dynamics. Exports surged by 18.1%, reaching $72.642 billion. Meanwhile, imports declined by 20.2%, totaling $55.444 billion. Key sectors drove this export boom. Primary products led with a 26.6% increase, followed by agricultural manufactures at 23.5%. Even fuel and energy exports rose by 19.9%. Import reductions were equally strategic. Fuel and lubricant imports plummeted by 49.8%. November’s data reinforces this trend. Exports jumped 31.6% year-on-year, while imports fell 4.3%. Specific products like crude soybean oil, corn, and gold played crucial roles in this growth.
December 19, 2024
SOURCE: RIO TIMES
Argentina Defies Economic Odds: $17 Billion Trade Surplus in 2024