2024 Apr Argentina Trade Data Summary: Exports Surge, Imports Drop

Argentina 2024 Apr Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports up 10.7% while imports plummet 22.7%, driven by austerity and IMF measures.
• Key Driver: Argentina import export data reveals machinery (16.8%) and Brazil (22.4%) dominate imports, exposing industrial gaps.
• Strategic Risk: Commodity-heavy exports (35.8% agri/fuels) leave economy vulnerable to price swings despite trade surplus.

Analysis covers 2024 Apr based on sanitized customs records from the yTrade database.

Argentina 2024 Apr Trade Data Trend Overview

• Argentina, a major agricultural and commodity exporter, posted resilient April 2024 Argentina global trade data amid a challenging macroeconomic environment of high inflation and fiscal tightening.
• The latest Argentina import export data shows exports grew 10.7% year-on-year to $6.53B, while imports contracted sharply by 22.7% to $4.71B, reflecting stringent capital controls and suppressed domestic demand.
• This divergence resulted in a significant monthly trade surplus of $1.82B, reinforcing a structural shift towards a positive balance driven by import compression.
• The import collapse was primarily driven by the government's austerity measures and a new $20 billion IMF program secured in April, which enforced fiscal discipline and reserves accumulation, drastically curbing inward shipments [Argentina - Market Challenges].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Argentina 2024 Apr Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily focused on agriculture and raw materials, with cereals (14.6%), mineral fuels (11.4%), and animal feed (9.8%) making up over a third of total shipments. A significant portion (30.5%) falls under an unspecified HS code (99), suggesting potential unclassified or mixed goods. Imports, however, are dominated by machinery (16.8%), vehicles (12.9%), and electrical equipment (9.3%), indicating reliance on industrial and manufactured goods. The trade structure highlights a resource-driven export economy with a need for high-value machinery and technology imports.

Key takeaways:

• Agriculture and fuels dominate exports.
• Imports lean heavily toward machinery and vehicles.
• Unclassified exports (HS 99) require further breakdown.
• Limited export diversification poses concentration risks.
• Industrial imports suggest gaps in domestic manufacturing.

Argentina Export-Import Structural Gap

Argentina’s trade gap shows a clear divide: it exports raw materials (cereals, fuels, animal feed) but imports finished industrial goods (machinery, vehicles, electronics). The overlap in HS 87 (vehicles) suggests some local assembly, but imports far exceed exports. The lack of high-value exports and reliance on machinery imports point to limited industrial capacity. This structure leaves Argentina vulnerable to commodity price swings while depending on foreign technology. Opportunities exist in upgrading agro-processing or expanding vehicle production to reduce import reliance.

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

Check Detailed Argentina Trade HS Code Breakdown

Argentina 2024 Apr Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate diversification, with Brazil as the top destination (16.2% share, $1.06B), followed by the U.S. (9.2%, $598.6M) and Chile (8.2%, $535.5M). No single market dominates excessively, though Latin America (Brazil, Chile) and Asia (China, Vietnam, India) are prominent. Imports, however, rely heavily on Brazil (22.4%, $1.05B) and China (15.5%, $729.8M), with the U.S. (11.4%, $538.1M) as a key supplier. Regional dependence is stronger for imports, particularly from neighboring Brazil and Paraguay (7.1%). Key takeaways:

• Exports are balanced across Americas and Asia.
• Imports lean heavily on Brazil and China.
• Trade with the U.S. is significant in both flows.
• Latin America dominates import sources more than export destinations.

Argentina Export–Import Geographic Gap

Exports reach a broader mix of markets, while imports depend heavily on Brazil and China. The U.S. appears in both top lists, suggesting two-way trade beyond processing. Import sources are more regionally concentrated (Brazil, Paraguay) compared to exports, which extend to Asia and Europe. This hints at upstream supply-chain reliance on a few partners but downstream sales diversification. The overlap with Brazil and the U.S. in both flows indicates strong bilateral trade ties.

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

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Frequently Asked Questions

What are the major products exported by Argentina in 2024 Apr?

Argentina's top exports in April 2024 included "Description not available" (30.53% share), cereals (14.59%), mineral fuels (11.39%), and food industry residues (9.83%), based on HS code data.

What are the main products Argentina imports in 2024 Apr?

Key imports were nuclear reactors/machinery (16.83% share), vehicles (12.88%), electrical machinery (9.25%), and oil seeds (7.07%), according to HS code classifications.

Which countries are the top destinations for Argentina's exports in 2024 Apr?

Brazil (22.39% share), Mainland China (15.50%), and the United States (11.43%) were the primary export destinations, per country trade data.

Which countries supply most of Argentina's imports in 2024 Apr?

Brazil (16.19% share), the United States (9.17%), and Chile (8.20%) were Argentina's largest import sources during this period.

How balanced are Argentina's export and import markets in 2024 Apr?

Argentina recorded a $1.82B trade surplus as exports grew 10.7% to $6.53B while imports contracted 22.7% to $4.71B due to austerity measures and IMF-enforced fiscal discipline.