2024 Oct Argentina Trade Data Summary: Export Boom

Argentina 2024 Oct Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports surged 30.3% YoY to $7.03B, driven by agricultural booms and trade facilitation.
• Key Driver: Argentina import export data reveals Brazil and China dominate imports (48.1% combined), while exports lean on regional LATAM markets.
• Strategic Risk: Heavy reliance on commodity exports and imported machinery underscores vulnerability to price swings and supply chain disruptions.

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

Argentina 2024 Oct Trade Data Trend Overview

• Argentina, a major agricultural and commodity exporter, posted robust October 2024 Argentina global trade data, driven by strong harvests and renewed market access under recent trade frameworks.
• The Argentina import export data for October shows exports surging 30.3% year-on-year to $7.03B, while imports grew a modest 4.8% to $6.12B, reflecting constrained domestic demand amid high inflation and fiscal tightening.
• This generated a trade surplus of $910M, reinforcing the country's positive trade balance as it continues to prioritize export-led growth and foreign reserve accumulation.
• The export boom was likely supported by market-opening measures and trade facilitation efforts under the nascent U.S.-Argentina framework, which aimed to reduce barriers and boost overseas sales of key goods like agricultural products and machinery [U.S.-Argentina Reciprocal Trade and Investment Framework].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Argentina 2024 Oct Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are dominated by agricultural and resource-based products, with fats/oils (15), animal feed (23), and cereals (10) accounting for nearly 30% of total exports. Vehicles (87) and fuels (27) also play significant roles. Imports are heavily skewed toward machinery (84), vehicles (87), and electrical equipment (85), which together make up over 40% of imports. The trade structure shows a clear split: Argentina exports raw materials and semi-processed goods while importing high-value manufactured products.

Key takeaways:

• Heavy reliance on agricultural exports (over 50% of top exports).
• Dependence on imported machinery and vehicles for industrial needs.
• Limited export diversification beyond primary goods.

Argentina Export-Import Structural Gap

Argentina’s trade gap highlights its role as a resource supplier and industrial goods consumer. Exports are concentrated in low-value agricultural and mineral products, while imports focus on machinery, electronics, and vehicles—critical for manufacturing. The overlap in vehicles (HS 87) as both a top export and import suggests some local assembly or processing. However, the lack of high-tech exports signals limited industrial upgrading. The imbalance underscores vulnerability to commodity price swings and reliance on foreign technology.

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

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Argentina 2024 Oct Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate concentration, with Brazil as the top destination (18.6% share), followed by Chile (8.0%) and the U.S. (7.8%). The remaining top 10 markets—including India, China, and Vietnam—are more diversified, with shares below 7%. Imports, however, rely heavily on Brazil (25.4%) and China (22.7%), accounting for nearly half of total imports. The U.S. (7.3%) and Germany (4.1%) are distant secondary suppliers. Key takeaways:

• Exports are regionally skewed toward Latin America (Brazil, Chile, Peru, Uruguay).
• Imports depend heavily on Brazil and China, indicating supply-chain vulnerabilities.
• The U.S. is a balanced partner, appearing in both top 3 export and import lists.

Argentina Export–Import Geographic Gap

Exports are more regionally focused (Latin America dominates), while imports show stronger dependence on two key suppliers (Brazil and China). The overlap with the U.S. and Vietnam in both lists suggests some processing trade. The structure implies downstream diversification in exports but upstream concentration in imports, with Brazil playing a dual role as both a major buyer and supplier. This asymmetry highlights Argentina's reliance on a few critical import sources despite broader export reach.

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 Oct?

Argentina's top exports in October 2024 included unspecified goods under HS Code 99 (29.65% of exports), animal/vegetable fats and oils (10.57%), and food industry residues (10.14%). Vehicles (9.36%) and cereals (8.77%) were also significant.

What are the main products Argentina imports in 2024 Oct?

Argentina primarily imported vehicles (16.41%), machinery (16.37%), and electrical equipment (11.06%) in October 2024. Oil seeds (5.22%) and plastics (4.35%) were other key imports.

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

Brazil (25.42% of exports) and Mainland China (22.73%) were Argentina's largest export markets in October 2024, followed by the United States (7.31%) and Germany (4.08%).

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

Brazil (18.57% of imports), Chile (8.01%), and the United States (7.80%) were Argentina's top import sources in October 2024. India (6.58%) and Mainland China (4.74%) also featured prominently.

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

Argentina recorded a $910M trade surplus in October 2024, with exports surging 30.3% to $7.03B while imports grew modestly (4.8% to $6.12B), reflecting strong export-led growth.