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 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.

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,