📉 Foreign investment falling: Argentina registers historic deficit in 2025

Introduction

Foreign direct investment (FDI) in Argentina closed 2025 with a negative balance of USD 1,421 million, the first since 2003. The data reflects the outflow of capital and the lack of new large-scale investments, in a context of economic and political uncertainty.

Context and figures

• FDI inflows: USD 1,342 million between January and November.
• Expenditures: USD 2,763 million in the same period.
• Result: Deficit of USD 1,421 million.
• Historical comparison: In 2024 the balance had been slightly positive (USD 89 million).

Factors that explain the fall

• Exit of multinationals: Several international companies reduced operations or sold assets to local groups.
• Deteriorated investment climate: The liberalization of the exchange rate clamp failed to attract fresh capital.
• International perception: Media such as  the Financial Times remarked that the reforms of Javier Milei's government have not yet convinced large corporations.

Economic and political impact

• Worrying sign: FDI is key to productive projects and job creation.
• Challenge for the Government: It contradicts the official discourse of "macroeconomic order" and puts pressure on the strategy of trade liberalization.
• Regional comparison: Argentina differs negatively from neighboring countries that maintain positive investment flows.

Conclusion

The fall in foreign direct investment in 2025 is a negative milestone for the Argentine economy. The challenge for 2026 will be to regain credibility and attract genuine capital, preventing the exit of multinationals from becoming a structural trend.

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