Argentina's Surging Trade Surplus Fuels Economic Turnaround

Under President Javier Milei, Argentina achieved a trade surplus for the tenth consecutive month in September, thanks to improved exports from the farming, mining, and energy sectors. Analysts estimate a net surplus of $16.5 billion since Milei's tenure began, marking a significant economic shift.

Argentina reported its tenth consecutive monthly trade surplus in September under the leadership of libertarian President Javier Milei, accumulating a net $16 billion in hard currency reserves during his tenure, according to a Reuters poll of analysts.

The country, grappling with severe economic challenges such as triple-digit inflation, recession, and dwindling foreign reserves, achieved a $1.28 billion trade surplus last month. This contributes to an estimated total surplus of $16.5 billion since December, a stark contrast to the deficits of the previous year.

Economist Milagros Suardi from Eco Go highlighted improvements in exports led by agriculture, mining, and hydrocarbon sectors. Economist Pablo Besmedrisnik from VDC noted increased domestic energy production is helping rectify past energy deficits, predicting a sector surplus of $4.2-5 billion by 2024.

(With inputs from agencies.)