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

Argentina 2024 Aug Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports up 14.3% while imports plummet 29.1%, yielding a $1.88B surplus.
• Key Driver: Argentina import export data reveals Brazil as top partner, dominating 17.7% of exports and 24.3% of imports.
• Strategic Risk: Heavy reliance on commodity exports and limited industrial capacity exposes economy to price volatility.

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

Argentina 2024 Aug Trade Data Trend Overview

• Argentina, a major agricultural and commodity exporter, posted mixed results in its August 2024 Argentina global trade data, reflecting its volatile economic profile.
• The latest Argentina import export data shows exports climbed 14.3% year-on-year to $6.76 billion, while imports contracted sharply by 29.1% to $4.88 billion.
• This divergence generated a substantial trade surplus of $1.88 billion for the month.
• The import collapse, amid no specific trade policy news, likely stems from stringent capital controls and a deep domestic recession suppressing demand for foreign goods.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Argentina Trade Data

Argentina 2024 Aug Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily focused on agriculture and raw materials, with cereals (9.4%), mineral fuels (9.2%), and animal feed (8.0%) leading the list. A significant portion (30.4%) falls under an unspecified HS code (99), suggesting potential unclassified or mixed shipments. Vehicles (8.6%) and fats/oils (6.2%) also contribute notably. Imports, however, are dominated by machinery (14.9%), vehicles (15.2%), and electrical equipment (9.8%), reflecting reliance on industrial inputs. Mineral fuels (9.9%) and oil seeds (4.8%) appear in both lists, indicating some processing trade.

Key takeaways:

• Exports lean heavily on primary goods, exposing Argentina to commodity price swings.
• High import dependence on machinery and vehicles signals limited domestic manufacturing capacity.
• Overlap in fuels and oil seeds hints at partial value-added processing.

Argentina Export-Import Structural Gap

Argentina exports raw or minimally processed goods (cereals, fuels, meat) while importing high-value machinery, vehicles, and electronics. This gap highlights an economy reliant on resource extraction with limited industrial depth. The presence of vehicles in both export and import lists suggests assembly or re-export activity, but the import value is nearly double the export value, underscoring a deficit in advanced manufacturing. The lack of exported finished industrial goods points to untapped upgrading potential, particularly in agri-processing or machinery production.

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

Check Detailed Argentina Trade HS Code Breakdown

Argentina 2024 Aug Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's export flows show moderate concentration, with Brazil as the top destination (17.7% share, $1.2B), followed by Chile (8.6%) and the U.S. (8.1%). Other key markets include Mainland China (7.6%) and India (5.1%), indicating a mix of regional and global demand. Imports are more concentrated, with Brazil (24.3%, $1.19B) and Mainland China (18.2%, $886.9M) dominating, while the U.S. (11%) and Paraguay (5.1%) are secondary sources. Key asymmetries:

• Exports are more diversified across Americas, Asia, and Europe.
• Imports rely heavily on Brazil and China, with limited supplier diversity.
• Regional trade (Brazil, Chile, Paraguay) is critical for both flows.

Argentina Export–Import Geographic Gap

Exports reach a broader set of markets, while imports depend heavily on Brazil and China. Overlapping trade partners (Brazil, China, U.S., India) suggest some processing trade or bilateral exchange. The structure shows upstream dependency (few import sources) but downstream diversification (many export destinations). Imports are more regionally focused (Latin America + China), while exports extend to distant markets like Switzerland and Saudi Arabia. This gap highlights Argentina's reliance on key suppliers but ability to sell globally.

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 2024 Aug?

Argentina's top exports in August 2024 included unspecified goods under HS Code 99 (30.35% of exports), cereals (9.42%), mineral fuels (9.21%), vehicles (8.62%), and food industry residues (8.03%).

What are the main products Argentina imports in 2024 Aug?

Argentina's primary imports were vehicles (15.22%), machinery (14.92%), mineral fuels (9.88%), electrical equipment (9.78%), and oil seeds (4.78%).

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

The leading export destinations were Brazil (24.31% of exports), Mainland China (18.16%), the United States (10.99%), Paraguay (5.06%), and Germany (4.21%).

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

Key import sources included Brazil (17.69%), Chile (8.59%), the United States (8.06%), Mainland China (7.60%), and India (5.08%).

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

Argentina recorded a $1.88 billion trade surplus in August 2024, with exports rising 14.3% to $6.76 billion and imports falling 29.1% to $4.88 billion due to domestic recession and capital controls.