2024 Jun Argentina Trade Data Summary: Export Surge, Import Drop

Argentina 2024 Jun Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports surged 21.3% to $6.57B, imports fell 35.3%, yielding a $1.88B surplus.
• Key Driver: Argentina import export data reveals agriculture (oil seeds, cereals) dominates exports, while machinery/fuel drive imports.
• Strategic Risk: Heavy reliance on raw material exports and few industrial suppliers exposes economy to commodity volatility.

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

Argentina 2024 Jun Trade Data Trend Overview

• Argentina, a major agricultural and commodity exporter, posted robust June 2024 Argentina global trade data, reflecting its role as a key supplier of grains and oilseeds to international markets.
• The latest Argentina import export data shows exports surged 21.3% year-on-year to $6.57 billion, while imports contracted sharply by 35.3% to $4.69 billion, indicating both strong external demand and constrained domestic consumption.
• This generated a substantial trade surplus of $1.88 billion for the month, reinforcing a positive balance driven by export strength and import compression.
• The export growth was likely supported by government measures to boost competitiveness, including the temporary elimination of export taxes on key grains and oilseeds to incentivize shipments [Global Trade Alert].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Argentina 2024 Jun Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily focused on agriculture and raw materials, with top categories including oil seeds (12), cereals (10), and animal feed (23), making up over 30% of total exports. The country also exports vehicles (87) and mineral fuels (27), but these are secondary to its agricultural dominance. Imports are more diverse, led by mineral fuels (27), machinery (84), and vehicles (87), indicating reliance on industrial and energy inputs. The trade structure shows a clear split: Argentina exports low-processed goods while importing high-value machinery and fuel.

Key takeaways:

• Agriculture dominates exports, creating vulnerability to commodity price swings.
• Heavy reliance on imported machinery and fuel signals industrial dependency.
• Limited export diversification raises long-term stability concerns.

Argentina Export-Import Structural Gap

Argentina’s trade gap highlights an economy built on raw material exports but dependent on foreign machinery and energy. Exports are mostly unprocessed (cereals, oil seeds) while imports are industrial (machinery, vehicles). The overlap in vehicles (HS 87) suggests some local assembly, but the bulk of high-value parts are imported. This imbalance points to a need for higher-value agro-processing or industrial upgrades to reduce import reliance. Without shifts, Argentina remains exposed to global commodity and energy price risks.

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

Check Detailed Argentina Trade HS Code Breakdown

Argentina 2024 Jun Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's trade flows show a mix of concentration and diversification. Exports are led by Mainland China (16%, $1.05B) and Brazil (15%, $992M), with the U.S. (7%, $478M) and Chile (7%, $435M) as other key markets. Imports are more concentrated, with Brazil (21%, $1B), the U.S. (15%, $701M), and Mainland China (14%, $672M) dominating. Regional trade is strong, with Latin America (Brazil, Chile, Paraguay) and Asia (China, India, Vietnam) as major partners. Key asymmetries: exports are more evenly spread, while imports rely heavily on a few suppliers.

• Top exports: China, Brazil, U.S., Chile, India
• Top imports: Brazil, U.S., China, Paraguay, Germany
• Regional focus: Latin America and Asia drive both flows

Argentina Export–Import Geographic Gap

Exports reach a broader set of markets, while imports depend heavily on Brazil, the U.S., and China. Overlapping trade partners (Brazil, China, U.S., India) suggest processing or re-export ties. The structure shows upstream dependency (few import sources) but downstream diversification (many export destinations). Imports are more regional (Latin America-heavy), while exports extend to Asia and Europe. This gap highlights Argentina’s reliance on key suppliers but ability to sell globally.

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 Jun?

Argentina's top exports in June 2024 included mineral fuels and oils (29.53% share), oil seeds and oleaginous fruits (10.73%), and residues from food industries (10.11%), based on HS code data.

What are the main products Argentina imports in 2024 Jun?

Key imports were mineral fuels/oils (16.02% share), nuclear reactors/machinery (14.05%), and vehicles (11.51%), as shown in the HS code breakdown.

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

Brazil (21.37% share), the United States (14.95%), and Mainland China (14.33%) were the leading export destinations according to trade data.

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

Mainland China (15.96% share), Brazil (15.11%), and the United States (7.28%) were Argentina's primary import sources during this period.

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

Argentina recorded a $1.88 billion trade surplus in June 2024, with exports surging 21.3% to $6.57B while imports fell 35.3% to $4.69B, reflecting strong export performance and reduced domestic demand.