2023 Dec Argentina Global Trade Data Summary: Economic Crisis Impact

Argentina 2023 Dec Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports and imports fell 13.8% and 15.2% YoY, reflecting economic crisis pressures.
• Key Driver: Argentina import export data reveals Brazil dominates both flows (20% exports, 22% imports), creating dual dependency.
• Strategic Risk: Export reliance on primary goods (41% single HS code) exposes Argentina to commodity price shocks.

Analysis covers 2023 Dec based on sanitized customs records from the yTrade database.

Argentina 2023 Dec Trade Data Trend Overview

• Argentina, a major agricultural and commodity exporter, saw its December 2023 Argentina global trade data reflect a broad-based contraction in external demand and domestic consumption.
• The Argentina import export data for the month showed exports fell 13.8% year-on-year to $5.27 billion, while imports dropped 15.2% to $4.26 billion, indicating severe pressure on both sides of the trade ledger.
• This generated a trade surplus of $1.01 billion, though it narrowed significantly from the previous year's level as export values declined more sharply in absolute terms.
• The across-the-board slump aligns with the country's deep economic crisis and austerity measures under President Javier Milei, which crushed domestic demand and disrupted normal trade flows through year-end.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Argentina Trade Data

Argentina 2023 Dec Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily concentrated in primary goods, with a single HS code (99) making up 40.7% of total exports, though its description is unavailable. Key export sectors include mineral fuels (10.9%), cereals (9.2%), and vehicles (8.5%), showing a mix of agriculture, energy, and limited manufacturing. Imports are more diversified, led by machinery (15.8%), vehicles (11.2%), and electrical equipment (8.9%), indicating reliance on industrial inputs. The trade structure suggests Argentina is resource-driven but depends on foreign machinery and technology.

Key Takeaways:

• Exports are dominated by primary goods, with high concentration risk.
• Imports focus on machinery and industrial components, highlighting manufacturing gaps.
• Vehicle trade is balanced, suggesting some local assembly or re-export activity.

Argentina Export-Import Structural Gap

Argentina exports raw materials (cereals, fuels, meat) but imports high-value machinery, chemicals, and pharmaceuticals. This gap shows an economy reliant on commodity sales while needing foreign technology and industrial goods. The overlap in vehicle trade (both export and import) hints at possible assembly or processing trade. To reduce dependency, Argentina could invest in upgrading agro-processing or light manufacturing sectors. The import-heavy machinery sector signals limited local production capacity.

Table: Argentina Top Import & Export Product Categories (Source: yTrade)

Check Detailed Argentina Trade HS Code Breakdown

Argentina 2023 Dec Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate concentration, with Brazil as the top destination (19.66% share, $1.04B), followed by the U.S. (10.12%, $533.51M) and Chile (7.72%, $407.17M). Imports are more heavily reliant on Brazil (21.64%, $921M) and Mainland China (18.43%, $784.31M), indicating supplier dependence. Regional trade dominates, with Latin America (Brazil, Chile, Peru, Paraguay) accounting for significant shares in both exports and imports. Key asymmetries include higher export diversification (top 3 destinations = 37.5% share) versus import concentration (top 2 sources = 40.07% share).

• Exports: Balanced between Latin America (Brazil, Chile, Peru) and global markets (U.S., China, India).
• Imports: Heavy reliance on Brazil and China, with limited diversification.
• Overlap: Brazil, U.S., China, Germany, and India appear in both lists, suggesting two-way trade.

Argentina Export–Import Geographic Gap

Exports reach a broader mix of regions (Americas, Asia, Europe), while imports depend heavily on Brazil and China. The U.S. and Germany feature in both lists, indicating some processing trade or reciprocal demand. The structure shows upstream dependency (imports concentrated in few suppliers) and downstream diversification (exports spread across multiple markets). This gap suggests Argentina relies on key partners for inputs but sells to a wider range of buyers. Trade with neighboring Latin American countries remains critical for both flows.

Table: Argentina Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Argentina in 2023 Dec?

Argentina's top exports in December 2023 included "Description not available" (HS Code 99) at $2.15B (40.68%), followed by mineral fuels (HS Code 27) at $573.17M (10.87%) and cereals (HS Code 10) at $484.79M (9.19%).

What are the main products Argentina imports in 2023 Dec?

The primary imports were nuclear reactors and machinery (HS Code 84) at $670.69M (15.76%), vehicles (HS Code 87) at $476.06M (11.19%), and electrical machinery (HS Code 85) at $379.65M (8.92%).

Which countries are the top destinations for Argentina's exports in 2023 Dec?

Brazil was the largest export destination ($921.00M, 21.64%), followed by Mainland China ($784.31M, 18.43%) and the United States ($404.16M, 9.50%).

Which countries supply most of Argentina's imports in 2023 Dec?

Brazil was also the leading import source ($1.04B, 19.66%), with the United States ($533.51M, 10.12%) and Chile ($407.17M, 7.72%) as other key suppliers.

How balanced are Argentina's export and import markets in 2023 Dec?

Argentina recorded a $1.01B trade surplus, though exports fell 13.8% YoY to $5.27B and imports dropped 15.2% to $4.26B, reflecting broad economic pressures.