Overview
- INDEC's late‑July report showed a first‑half 2026 trade surplus of $13,923 million after exports totaled $49,454 million and imports amounted to $35,531 million.
- Export values rose 30.9% year‑on‑year in Q2 as international prices climbed about 13.7% and export volumes grew 15.1%.
- The fuels and energy sector led gains in Q2 with export value up 85.5%, prices up 38.5% and volumes up 33.9%, a shift that reflects recent oil price spikes.
- Import quantities fell 8.3% in Q2 with sharp drops in capital goods and parts, signaling weaker external demand for investment items.
- Private analysts now project a possible full‑year 2026 surplus near $20 billion but warn that reliance on high commodity and energy prices leaves outcomes exposed to geopolitical price swings.