Argentina’s energy trade balance further cemented its position as one of the country’s main sources of foreign currency earnings during the first half of 2026.
According to a report by economist Nadin Argañaraz, the sector’s surplus improved by US$2.2 billion compared with the same period in 2025, almost entirely due to a sharp increase in energy exports.
The study shows that in June alone the energy trade balance posted a surplus of US$611 million, with exports totaling US$1.4 billion and imports amounting to US$794 million.
According to Argañaraz’s analysis, the result for the first semester was driven by a US$2.2 billion increase in exports, partially offset by a US$67 million rise in imports.
The report highlights that the improvement in price and volume effects can be explained mainly by two factors: the Middle East conflict and rising production from the Vaca Muerta shale play.
