Argentina marks a trade profit of about $ 19 billion in Milei’s first year as president By Reuters

BUENOS AIRES (Reuters) – Argentina has posted a record trade surplus of $18.9 billion for 2024, according to official data released on Monday, largely in line with President Javier Milei’s first full year in office.

The rest of the business last year exceeded the annual record of $ 16.89 billion set in 2009, and reached the end of the forecast from analysts polled by Reuters, who expected a figure between of $18 and $19 billion.

The monthly budget for the month of December has a surplus of $1.67 billion, marking the thirteenth consecutive month that the value of exports exceeded the value of imports. December’s data was also above forecasts for a profit of $921 million in a Reuters poll.

Since taking office in late 2023, Milei has been betting on growing grain and imports as well as cutting public spending in order to lower inflation in the second largest economy. the elder of South America.

The far-right and apolitical economist aims to make Argentina an energy exporter, fueled by abundant shale oil and gas reserves, while easing fiscal controls to boost other exports, including in the country’s major grain sector.

The value of exports last year stood at about 80 billion dollars, led by agriculture and farming, while imports were about $61 billion, according to data from the government office of statistics.

Neighboring Brazil was Argentina’s main export destination last year, accounting for 17% of the total, followed by the United States and Chile.