Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Argentina economic outlook | Deloitte Insights – Full Analysis.
Argentina economic overview
Between 2013 and 2023, Argentina’s trade balance was in a state of flux, with moderate surpluses recorded during recessions and deficits during periods of import-led growth. The turning point came in 2024, when the surplus reached a record level of roughly US$19 billion,3 driven by a recovery in the agricultural sector after the drought of 2023, an increase in energy exports, and a fall in economic activity.
In 2025, despite the recovery in economic activity (a cumulative increase of 5.2% as of August 2025 compared with the same period in 2024) and imports (a cumulative year-on-year growth of 35%), a cumulative balance of US$6.4 billion was recorded as of September. This reflects the reactivation of the economy and the rising demand for capital goods.
Deloitte projections are optimistic: Total exports are expected to grow from US$79.7 billion in 2024 to US$116.7 billion in 2030,4 with sustained positive trade balance levels, mostly driven by energy and mining (figure 1).