One Turn
Argentina's monthly exports top $10 billion for first time
Argentina posted a $2.98bn trade surplus in September as exports exceeded $10bn for the first time, driven by rising energy sales. President Milei told an oil and gas expo in Neuquén that record production from Vaca Muerta was an "underground revolution."
Why it matters
Higher energy exports bring Argentina foreign currency it has long lacked.
Background
Vaca Muerta in Patagonia is one of the world's largest shale formations. A report this week also said the number of Argentine companies has fallen to a 19-year low.
The story so far
- Argentina pauses dollar bond sales as debt payments loom
- Argentina's monthly exports top $10 billion for first time
- US plans up to $20bn in investment and financing for Argentina
- Argentina agrees sale of water utility AySA
- IMF reaches preliminary Argentina deal
Sources
- UPI ↗Oct 20, 12:42 PM ET
- Buenos Aires Times ↗Oct 19, 8:45 PM ET
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