2024 Jul Argentina Trade Data: Surplus Surge

Argentina 2024 Jul Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports surged 18.6% to $7.19B while imports fell 15.3%, yielding a $1.46B surplus.
• Key Driver: Argentina import export data reveals agriculture (HS 10, 23) and fuels (HS 27) dominate exports, while machinery (HS 84-85) leads imports.
• Strategic Risk: Heavy import reliance on Brazil/China (38% combined) contrasts with diversified exports, exposing supply chain fragility.

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

Argentina 2024 Jul Trade Data Trend Overview

• Argentina, a major agricultural and resource exporter, posted a significant trade surplus in July 2024, with its global trade data reflecting robust export performance amid a sharp import contraction.
• The July Argentina import export data showed exports surging 18.6% year-on-year to $7.19 billion, while imports slumped 15.3% to $5.73 billion, indicating strong external demand and constrained domestic consumption.
• This generated a substantial monthly trade surplus of $1.46 billion, reinforcing the country's positive trade balance trajectory.
• The export strength and import weakness align with the government's broader economic stabilization efforts, including fiscal tightening and monetary measures to curb inflation and reduce dollar outflows, as highlighted in earlier 2024 IMF negotiations and reform agendas.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Argentina 2024 Jul Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily focused on agriculture and raw materials, with cereals (HS 10) and mineral fuels (HS 27) making up over 22% of total exports. Food-related products, including animal feed (HS 23), fats and oils (HS 15), and meat (HS 02), dominate nearly a quarter of exports. Vehicles (HS 87) are the only major manufactured export, accounting for 7.5%. Imports, however, are machinery-driven, with industrial equipment (HS 84), vehicles (HS 87), and electrical machinery (HS 85) making up 35% of imports. Mineral fuels (HS 27) and oilseeds (HS 12) are also key imports, indicating some overlap with exports.

Key takeaways:

• Agriculture and raw materials dominate exports.
• Limited manufacturing exports beyond vehicles.
• Heavy reliance on imported machinery and industrial goods.
• Some dual trade in fuels and oilseeds.

Argentina Export-Import Structural Gap

Argentina’s trade structure shows a clear divide: it exports mostly raw and semi-processed goods while importing high-value machinery and industrial products. The country sells cereals, animal feed, and fuels but buys machinery, vehicles, and pharmaceuticals. The overlap in vehicles (HS 87) suggests some domestic assembly or processing, but the heavy machinery imports point to industrial dependency. The gap highlights Argentina’s role as a resource supplier with limited advanced manufacturing capacity. Opportunities may lie in expanding processing of agricultural exports or reducing machinery import reliance.

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

Check Detailed Argentina Trade HS Code Breakdown

Argentina 2024 Jul Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate concentration, with Brazil as the top destination (15.7% share), followed by the U.S. (9.4%) and Chile (9.1%). Imports are more reliant on Brazil (20.7%) and Mainland China (17.2%), with the U.S. (12.6%) as the third-largest supplier. Key asymmetries include:

• Exports are spread across the Americas (Brazil, Chile, Peru), Asia (China, Vietnam, India), and Europe (Netherlands, Spain).
• Imports depend heavily on Brazil and China, which together account for nearly 38% of total imports.
• Overlapping trade partners (Brazil, U.S., China, India, Spain) suggest some two-way trade flows.

Argentina Export–Import Geographic Gap

Exports reach a broader mix of regions, while imports lean heavily on Brazil and China. The U.S. appears in both lists, indicating balanced trade. The structure shows upstream dependency (imports concentrated in a few suppliers) and downstream diversification (exports spread across multiple markets). No clear regional bias exists, with trade ties spanning the Americas, Asia, and Europe. This gap suggests Argentina relies on key suppliers but diversifies its export risks.

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 Jul?

Argentina's top exports in July 2024 included "Description not available" (HS Code 99) at $1.91B (26.64%), cereals ($896.68M, 12.48%), and mineral fuels ($704.70M, 9.81%), based on HS code data.

What are the main products Argentina imports in 2024 Jul?

Key imports were nuclear reactors/machinery ($762.77M, 13.32%), mineral fuels ($706.50M, 12.34%), and vehicles ($693.40M, 12.11%), per HS code analysis.

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

Brazil ($1.19B, 20.71%), Mainland China ($982.00M, 17.15%), and the United States ($720.68M, 12.58%) were Argentina's leading export markets in July 2024.

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

Argentina primarily imported from Brazil ($1.13B, 15.68%), the United States ($677.64M, 9.43%), and Chile ($655.30M, 9.12%) during this period.

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

Argentina recorded a $1.46B trade surplus in July 2024, with exports surging 18.6% to $7.19B and imports declining 15.3% to $5.73B, reflecting strong external demand and constrained domestic consumption.