2023 Feb Argentina Trade Data Summary: Exports Plummet

Argentina 2023 Feb Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports plummeted 18.8% YoY, narrowing surplus to $210M amid drought and economic instability.
• Key Driver: Argentina import export data reveals agriculture (cereals, fats) and vehicles dominate trade, with Brazil and China as top partners.
• Strategic Risk: Heavy import reliance on Brazil and China exposes supply chain vulnerabilities.

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

Argentina 2023 Feb Trade Data Trend Overview

• Argentina, a major agricultural and commodity exporter, posted a mixed trade performance in February 2023, with its Argentina global trade data reflecting the pressures of a challenging macroeconomic climate.
• The Argentina import export data for the period shows exports valued at $5.24B, slumping 18.8% year-on-year, while imports of $5.03B contracted by a more moderate 10.75% over the same period.
• The severe decline in export value, outpacing the drop in imports, resulted in a sharply narrowed trade surplus of $210 million for the month.
• The pronounced downturn was likely driven by a combination of severe drought impacting key agricultural harvests and broader economic instability, which suppressed both foreign demand for its goods and domestic demand for imports.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Argentina Trade Data

Argentina 2023 Feb Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily focused on agriculture and raw materials, with cereals (12.1%), animal fats (7.3%), and meat (4.8%) leading the list. Vehicles (7.9%) and mineral fuels (7.6%) also play a key role, but the top export category (HS 99, 37%) lacks description, suggesting potential data gaps. Imports are dominated by machinery (14.5%), mineral fuels (12.1%), and vehicles (11.3%), indicating reliance on industrial and energy inputs. The trade structure shows a clear split: exports lean toward primary goods, while imports prioritize manufactured and high-tech products.

Key takeaways:

• Agriculture-driven exports with cereals and animal products as top earners.
• Industrial import dependence, especially machinery and vehicles.
• Energy trade balance is mixed, with both exports and imports of mineral fuels.
• Data clarity issues due to undefined top export category (HS 99).

Argentina Export-Import Structural Gap

Argentina’s trade gap highlights an economy reliant on raw material exports while needing imported machinery and technology. Exports are mostly unprocessed goods (cereals, meat, fats), while imports focus on industrial equipment (HS 84, 85) and pharmaceuticals. The overlap in vehicles (HS 87) suggests some domestic assembly or re-export activity. The country’s trade position reflects a classic resource-based economy with limited high-value exports. Upgrading agro-processing or expanding vehicle production could reduce import dependence.

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

Check Detailed Argentina Trade HS Code Breakdown

Argentina 2023 Feb Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate concentration, with Brazil as the top destination (16.9% share), followed by the U.S., China, and Chile (each 7–8% share). Latin America dominates, with Brazil, Chile, Peru, and Colombia collectively accounting for 33.5% of exports. Imports are more concentrated, with Brazil (22.9%) and China (18.3%) supplying over 40% of total imports. The U.S. is a key partner for both exports (7.6%) and imports (11.6%). Key takeaways:

• Regional focus: Latin America is central for exports, while imports rely heavily on Brazil and China.
• Top partners overlap: Brazil, China, and the U.S. appear in both export and import top lists.
• Import dependence: Nearly half of imports come from just two suppliers.

Argentina Export–Import Geographic Gap

Exports are regionally focused but relatively diversified across Latin America, while imports depend heavily on Brazil and China. The U.S. serves as a balanced partner, ranking in the top three for both flows. Overlapping trade with Brazil and China suggests processing or re-export activity. The structure shows downstream diversification in exports but upstream supplier concentration in imports, creating potential vulnerability. Trade with neighboring countries (Chile, Paraguay, Uruguay) highlights strong regional integration.

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

Get Complete Argentina Trading Patner Countries Profile

Frequently Asked Questions

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

Argentina's top exports in February 2023 included "Description not available" (HS Code 99) valued at $1.94B (37.04% of total exports), cereals ($635.82M, 12.14%), and mineral fuels ($399.79M, 7.63%).

What are the main products Argentina imports in 2023 Feb?

The primary imports were nuclear reactors/machinery ($727.88M, 14.47%), mineral fuels ($608.76M, 12.11%), and vehicles ($568.37M, 11.30%).

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

Brazil was the largest export destination ($1.15B, 22.89%), followed by Mainland China ($920.95M, 18.31%) and the United States ($584.57M, 11.62%).

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

Brazil was the leading import source ($884.99M, 16.89%), with the United States ($397.15M, 7.58%) and Mainland China ($396.82M, 7.57%) as other key suppliers.

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

Argentina's trade surplus narrowed sharply to $210M, with exports ($5.24B) falling 18.8% YoY and imports ($5.03B) declining 10.75%, driven by drought and economic instability.