Argentina logged its largest energy trade surplus in nearly two decades last year, the energy secretariat said on Tuesday, marking a win for libertarian President Javier Milei who has vowed to use oil and gas exports to propel the weakened economy out of recession.

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

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 a trade surplus of USD 1.666 million in December, contributing to a cumulative positive balance of USD 18.899 million for 2024. Exports surged by 33.4% in comparison to the same period last year, driven by increased quantities sold, even as prices fell.

Argentina reported a record $18.9 billion trade surplus for 2024, driven by increased exports and reduced public spending under President Javier Milei. The surplus surpassed a previous high set in 2009 and reflected thirteen consecutive months of positive trade balance,

Argentina likely logged the largest trade surplus in its history in 2024, a Reuters analyst poll released on Friday showed, on the back of libertarian President Javier Milei's bid to boost grains and energy exports in his first full year in office.