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.

BUENOS AIRES (Reuters) - 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.

Milei, who has been president since December 2023, vowed to make Argentina a net energy exporter using the vast shale reserves in the Patagonian Vaca Muerta region. Grains exports, aided by some easing of currency controls and better weather, also rose.

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

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 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.