Argentina posts record export surge in May driven by oil and meat shipments

Argentina’s foreign trade hit historic levels in May 2026. Total exports reached a record US$9.537 billion, delivering a US$3.504 billion overall trade surplus, the highest on record. The energy sector led the growth, with oil and gas exports climbing 167 % year‑on‑year and generating a US$1.543 billion energy‑trade surplus. Crude oil shipments hit US$1.172 billion, up 322 % from the same month a year earlier, making oil the top export product for the first time.

The agricultural side also saw a strong performance. Beef and related meat exports in the first five months of 2026 totaled US$1.833 billion, up 44.7 % from the previous year, and a May price of US$7 251 per tonne set a new record. China remained the primary market, absorbing about 60 % of the meat volume.

Combined, these trends highlight a rapid shift in Argentina’s export composition, with energy products and high‑value meat driving a surge in foreign‑exchange earnings and reshaping the country’s trade balance.