The fuel and energy sector drove export growth with sales of $1.506 billion, a 97.8% year-over-year increase equivalent to $744 million in additional revenue. Higher crude oil sales accounted for the bulk of the expansion, benefiting from elevated international prices linked to Middle East conflict. Industrial manufactures grew 11.2% to contribute $219 million, while agricultural manufactures increased 4.9% to $3.068 billion, supported by meat and food derivatives. Primary products fell 0.6% due to lower oilseed sales.
Import volumes contracted 9.2% despite an 8.4% price increase. Capital goods imports dropped 7.7%, while parts and accessories for capital goods declined 14.9%. Passenger vehicle imports fell 12.8%. Intermediate goods purchases rose 16.5%, adding $343 million to the total.
India became Argentina’s largest trade partner in July with a $496 million surplus, generated by $584 million in exports and $87 million in imports. The United States recorded a $423 million surplus with $1.106 billion in exports, up 23.4%. The European Union showed a $47 million surplus with exports of $812 million. Brazil posted a $349 million deficit despite $1.127 billion in Argentine exports, while China’s deficit widened to $845 million as exports to that market fell 34.2% to $667 million.
Economy Minister Luis Caputo highlighted that accumulated exports through July grew 22.9% compared to 2025, reaching $58.365 billion. The cumulative seven-month trade surplus totaled $16.080 billion.
This article was curated and published as part of our South American energy market coverage.
