According to an economist poll, Argentina is projected to achieve its eleventh straight trade surplus in September, collecting a net $16.5 billion in hard currency since President Javier Milei took office in December. As per the reports, the country’s trade surplus in September was $1.28 billion, despite facing triple-digit inflation, a prolonged recession, and depleted foreign currency reserves.
Milei, a libertarian leader, has promised to overhaul Argentina’s economy, and this run of trade surpluses contrasts with the deficits observed last year. Increased exports from important industries like agriculture, mining, and energy are what’s driving the reversal.
Milagros Suardi, an economist with Eco Go consultancy, stated that Argentina’s exports have improved, particularly in agriculture and hydrocarbons. The country is a major global provider of soy and corn, and it has significant quantities of shale oil, gas, and lithium.
Pablo Besmedrisnik of VDC Consultant emphasised the benefits of increased local energy production. He predicts that the energy industry will conclude 2024 with a $5 billion surplus, owing to higher hydrocarbon output and lower energy use. INDEC will issue official trade data for September on Friday.
