Argentina marks record trade surplus at nearly $19 bln in Milei's first year as president

[MilHojas]

https://www.reuters.com/world/americas/argentina-marks-record-trade-surplus-nearly-19-bln-mileis-first-year-president-2025-01-20/

Argentina posted a record $18.9 billion trade surplus for 2024, according to official data released on Monday, that largely coincides with libertarian President Javier Milei's first full year on the job.

Argentina recorded record trade surplus in 2024

Argentia recorded its biggest-ever trade surplus in 2024 – partly due to a drop in imports caused by recession.

www.batimes.com.ar

"The trade surplus is due to a deep recession in Argentina, which has contracted imports,’" explained economist Pablo Tigani.

 

[FrankPintor]

https://www.reuters.com/world/americas/argentina-marks-record-trade-surplus-nearly-19-bln-mileis-first-year-president-2025-01-20/

Argentina recorded record trade surplus in 2024

Argentia recorded its biggest-ever trade surplus in 2024 – partly due to a drop in imports caused by recession.

www.batimes.com.ar

Easily explained:

"Argentina's livestock and grain exports, badly hit by a historic drought in 2023, recovered the following year. [...] Overall, exports rose 19.4 percent year-on-year, driven by primary products (up 27 percent) and agricultural and livestock products (up 24 percent).

Imports fell sharply in 2024, however, as Milei's cost-cutting policies took root, causing a slump in spending, specialists say". It looks like imports fell by 10%.

From https://batimes.com.ar/news/economy/argentina-recorded-record-trade-surplus-in-2024.phtml. Milei gets to take credit for one of the two factors, guess which one.

As the overvalued Peso has been commented on, I now see that Argentina has the most expensive Big Macs in the region, passing Uruguay, at USD 7.07 a piece. For reference, in Ireland a Big Mac costs EUR 3.70, or about USD 3.86. On our recent trip there, we were shocked at how cheap shopping and clothes are in Ireland, compared to here.

 

[Quilombo]

As the overvalued Peso has been commented on, I now see that Argentina has the most expensive Big Macs in the region, passing Uruguay, at USD 7.07 a piece. For reference, in Ireland a Big Mac costs EUR 3.70, or about USD 3.86. On our recent trip there, we were shocked at how cheap shopping and clothes are in Ireland, compared to here.

Only 24 years more to go, right?

 

[mikic007]

Easily explained:

"Argentina's livestock and grain exports, badly hit by a historic drought in 2023, recovered the following year. [...] Overall, exports rose 19.4 percent year-on-year, driven by primary products (up 27 percent) and agricultural and livestock products (up 24 percent).

Imports fell sharply in 2024, however, as Milei's cost-cutting policies took root, causing a slump in spending, specialists say". It looks like imports fell by 10%.

From https://batimes.com.ar/news/economy/argentina-recorded-record-trade-surplus-in-2024.phtml. Milei gets to take credit for one of the two factors, guess which one.

As the overvalued Peso has been commented on, I now see that Argentina has the most expensive Big Macs in the region, passing Uruguay, at USD 7.07 a piece. For reference, in Ireland a Big Mac costs EUR 3.70, or about USD 3.86. On our recent trip there, we were shocked at how cheap shopping and clothes are in Ireland, compared to here.

Even if we ignore big macs, we can find a lot of examples of crazy prices within basic products. Only beef is a bit cheaper, the rest is more expensive or similar price. On the other hand seeing a specialist is like 20 euros...

Anyway, nothing new, that's why everyone is so calm.