2024 Nov Argentina Trade Data Summary: Exports Surge

Argentina 2024 Nov Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports surging 32.6% YoY to $6.53B, imports contracting 4.3%, flipping trade to surplus.
• Key Driver: Argentina import export data reveals agricultural exports (cereals, fats, meat) dominate, while industrial imports (machinery, vehicles) lag.
• Strategic Risk: Heavy reliance on Brazil/China for imports (48.8% combined) exposes supply chain to bilateral tensions.

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

Argentina 2024 Nov Trade Data Trend Overview

• Argentina, a major agricultural and resource exporter, saw its November 2024 global trade data reflect strong export-led growth amid ongoing economic reforms.
• Argentina import export data showed exports surging 32.6% year-on-year to $6.53 billion, while imports contracted 4.3% to $5.25 billion, signaling robust external demand and constrained domestic consumption.
• The trade balance swung to a surplus of $1.28 billion, reversing previous deficits as export values significantly outpaced import spending.
• The export boom was likely fueled by trade liberalization efforts and preferential access negotiations with key partners, including the recent U.S.-Argentina framework agreement aimed at reducing barriers for agricultural and manufactured goods [GFM Legal].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Argentina 2024 Nov Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily focused on agricultural and resource-based products, with animal/vegetable fats (15), cereals (10), and meat (02) making up nearly 25% of total exports. The top export, HS code 99 (33.35%), lacks description but dominates trade value. Vehicles (87) and mineral fuels (27) also play key roles. Imports are more industrial, led by vehicles (17.34%), machinery (84), and electrical equipment (85), which together account for over 45% of imports. The trade structure shows a clear split: Argentina exports raw and semi-processed goods while importing high-value manufactured products.

Key takeaways:

• Heavy reliance on agricultural and resource exports.
• Industrial imports dominate, especially machinery and vehicles.
• Undefined HS code 99 is the largest export, indicating potential data gaps.

Argentina Export-Import Structural Gap

Argentina’s trade gap highlights an economy dependent on raw material exports but needing industrial imports. Exports like cereals, fats, and meat contrast sharply with imports of machinery, vehicles, and electronics. The overlap in vehicles (HS 87) as both a top export and import suggests some local assembly or processing. However, the lack of high-value export manufacturing signals limited industrial upgrading. The import-heavy reliance on machinery and tech indicates gaps in domestic production capacity. This structure leaves Argentina vulnerable to commodity price swings while requiring steady industrial imports.

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

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Argentina 2024 Nov Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate diversification, with Brazil as the top destination (18.5% share), followed by the U.S. (10.5%) and India (6.7%). No single market dominates excessively, though Latin America (Brazil, Chile, Uruguay, Peru) accounts for nearly 30% of exports. Imports are more concentrated, with Brazil (26.2%) and China (22.6%) supplying almost half of inbound trade. The U.S. (6.7%) and Germany (4.4%) are distant secondary sources. Key asymmetries include:

• Exports spread across Americas, Asia, and Europe; imports rely heavily on Brazil and China.
• Overlap exists with Brazil, China, U.S., and India in both lists, suggesting two-way trade.
• Latin America is central for exports but less dominant for imports beyond Brazil.

Argentina Export–Import Geographic Gap

Exports reach a broader mix of regions, while imports depend heavily on two suppliers (Brazil and China). The U.S. and India appear in both top 10 lists, indicating balanced trade ties. Import sources are more Asia-heavy (China, Thailand, Japan) compared to exports, which lean toward regional neighbors. The structure shows downstream diversification (exports) but upstream reliance on key partners (imports), particularly for manufactured goods from China and raw materials from Brazil.

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 Nov?

Argentina's top exports in November 2024 included "Description not available" (HS Code 99, 33.35% share), animal/vegetable fats and oils (HS Code 15, 10.94%), and food industry residues (HS Code 23, 9.01%). Vehicles (HS Code 87) and cereals (HS Code 10) also featured prominently.

What are the main products Argentina imports in 2024 Nov?

Key imports were vehicles (HS Code 87, 17.34% share), machinery (HS Code 84, 17.05%), and electrical equipment (HS Code 85, 11.15%). Plastics (HS Code 39) and organic chemicals (HS Code 29) were other significant imports.

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

Brazil was the largest export destination (26.23% share), followed by Mainland China (22.63%) and the United States (6.66%). Germany and Paraguay rounded out the top five.

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

Brazil was the leading import source (18.49% share), with the United States (10.51%), India (6.66%), Chile (5.30%), and Mainland China (5.23%) as other major suppliers.

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

Argentina recorded a $1.28 billion trade surplus, with exports surging 32.6% to $6.53 billion while imports fell 4.3% to $5.25 billion, reflecting strong external demand and constrained domestic consumption.