The agro-industry generated 92% of foreign currency but remains tied by withholding taxes.

Between 2020 and 2024, the agribusiness industry accounted for 92% of the net foreign exchange entering the country, according to a report by the Rosario Stock Exchange (BCR). The data highlights the sector's strategic importance in the exchange rate balance, although it also raises a persistent complaint: export duties , which producers say limit growth potential, remain tied to withholding taxes.

The BCR analysis highlighted that agriculture, along with mining , played a central role as net exporters. Of the more than US$177 billion sold in five years, more than 90% came from agroindustrial activity. When considering only goods exports, agriculture accounted for 61% of the total. The automotive industry and the energy sector were far behind, with just 10% each.

The agribusiness industry is clearly export-oriented, which translates into a low level of imports. In terms of numbers, it exported six dollars for every one it needed to import. In comparison, the mining industry showed an even more favorable ratio: nine to one. This profile makes agriculture the country's main supplier of genuine dollars.

Despite its contribution, the agricultural sector receives negative economic assistance from the state. This was noted by the Congressional Budget Office (CBO), which evaluated 40 sectors and found only three with this result: food and beverages, agriculture and livestock , and oil and gas extraction . According to the report, this situation is primarily due to export duties , which reduce the added value generated by the sector.

The report also reviewed the situation of the energy sector, which managed to reverse its trade deficit. Thanks to the development of Vaca Muerta and increased investments, it closed 2024 with a surplus of US$2.624 billion. Although positive, its impact on total foreign exchange earnings remains far below that of the agricultural sector.

The BCR warned that the sectors with the greatest foreign currency contributions are precisely those facing the most tax obstacles. "The only ones with negative assistance are part of the largest segment of national exports," they noted. For the agricultural sector, this means that the current fiscal policy limits its growth.

The report concluded that disincentives and "negative support" from the state are limiting the sector that generates the most dollars. According to estimates by the BCR and the IDB, without these barriers, the agribusiness industry could increase its contribution and further strengthen the economy's external front.