2023 Jun Argentina Trade Data Summary: Exports Plummet

Argentina 2023 Jun Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports plummeted 35.8% YoY in June 2023, widening the trade deficit to $1.84B.
• Key Driver: Argentina import export data reveals agricultural collapse (HS 10 cereals) due to historic drought, crippling top exports.
• Strategic Risk: Over-reliance on Brazil/China for 45.8% of imports exposes supply chain fragility.

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

Argentina 2023 Jun Trade Data Trend Overview

• Argentina, a major agricultural and commodity exporter, saw its trade engine sputter in June 2023, with the latest Argentina global trade data revealing a sharp contraction in external activity.
• The Argentina import export data for the period shows exports cratered to $5.41 billion, a 35.8% year-on-year collapse, while imports fell a more moderate 16.4% to $7.25 billion.
• This resulted in a significant trade deficit of approximately $1.84 billion for the month.
• The severe downturn was primarily driven by a historic drought that devastated key agricultural harvests, slashing export volumes and value [Thompson Hines Smart Trade].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Argentina 2023 Jun Top Trading Products

Argentina Global Trade Core Summary

Argentina’s trade is heavily driven by agriculture and energy, with cereals (HS 10) and animal/vegetable fats (HS 15) making up nearly 23% of exports. The top export category (HS 99, 33.4%) lacks a description but dominates trade value. Imports are more diversified, led by mineral fuels (HS 27, 15%) and machinery (HS 84, 12.8%), indicating reliance on energy and industrial inputs. The export structure shows high concentration in primary goods, while imports lean toward manufactured and capital goods. Key takeaways:

• Agriculture and energy dominate exports.
• Imports focus on machinery, fuels, and industrial inputs.
• Export concentration risks dependence on a few commodities.
• Import diversity suggests industrial needs beyond domestic capacity.

Argentina Export-Import Structural Gap

Argentina exports raw and semi-processed goods (cereals, fats, meat) but imports machinery, vehicles, and chemicals—a classic resource-driven trade pattern. The overlap in HS 12 (oil seeds) as both a top export and import hints at processing trade, where raw materials are exported and higher-value derivatives are imported. The gap highlights Argentina’s role as a commodity supplier but reveals limited industrial upgrading, with machinery and electronics making up 22.9% of imports. This suggests reliance on foreign technology for value-added production. The trade structure points to untapped potential in local manufacturing and processing.

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

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Argentina 2023 Jun Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate diversification, with Brazil as the top destination (16.8% share), followed by Mainland China (8.6%) and the United States (7.1%). Other key markets include Chile, India, and Vietnam, indicating a mix of regional (Latin America) and global (Asia, North America) demand. Imports are more concentrated, with Brazil (28.3%), Mainland China (17.5%), and the U.S. (14%) dominating supply. Regional neighbors like Paraguay and Bolivia also feature, but reliance on Brazil and China is pronounced. Key takeaways:

• Exports spread across Latin America, Asia, and North America.
• Imports heavily depend on Brazil, China, and the U.S.
• Trade with Brazil is dominant in both directions.
• Vietnam appears in both export and import lists, suggesting processing trade.

Argentina Export–Import Geographic Gap

Exports reach a broader set of markets, while imports rely heavily on three suppliers (Brazil, China, U.S.). The overlap with Brazil and Vietnam hints at some two-way trade, but the structure leans toward upstream dependency (imports) and downstream diversification (exports). Imports are more regionally focused (Latin America + China/U.S.), while exports extend to Europe (Spain) and smaller Asian markets. This suggests Argentina sources critical inputs from a few partners but sells to a wider range of buyers. The trade gap with Brazil is notable, as it accounts for far more imports than exports.

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 Jun?

Argentina's top exports in June 2023 included mineral fuels and oils (33.39% of exports, $1.81B), cereals (13.99%, $757.43M), and animal/vegetable fats and oils (9.05%, $490.01M), based on HS code data.

What are the main products Argentina imports in 2023 Jun?

Key imports were mineral fuels/oils (15.01%, $1.09B), machinery (12.79%, $926.77M), and oil seeds (12.22%, $885.37M), per HS code analysis.

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

Brazil was the largest export destination (28.28%, $2.05B), followed by Mainland China (17.47%, $1.27B) and the United States (13.97%, $1.01B), according to country trade data.

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

Brazil also led as Argentina’s top import source (16.77%, $908.30M), with Mainland China (8.59%, $464.93M) and the U.S. (7.05%, $381.66M) as other major suppliers.

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

Argentina faced a $1.84B trade deficit in June 2023, with exports plummeting 35.8% YoY to $5.41B and imports declining 16.4% to $7.25B, driven by drought-related agricultural losses.