2024 Q4 Argentina Trade Data Summary: Export Surge, Import Lag

Argentina 2024 Q4 Trade Data Key Takeaways

• Market Trend: Argentina trade data shows exports surged 32.2% YoY in December, but import growth lagged at 7.5%, narrowing the surplus.
• Key Driver: Argentina import export data reveals agricultural/fuel exports dominate (30% share), while machinery/vehicles drive 45% of imports.
• Strategic Risk: Heavy import reliance on Brazil/China (48.2% combined) exposes supply chain fragility.

Analysis covers 2024 Q4 based on sanitized customs records from the yTrade database.

Argentina 2024 Q4 Trade Data Trend Overview

• Argentina's agricultural and energy export engine closed 2024 with volatile quarterly performance, as reflected in the latest Argentina global trade data, buffeted by policy shifts and global commodity demand.
• The Argentina import export data shows exports hit $7.05B in December, surging 32.2% year-on-year, while imports rose 7.5% to $5.37B, indicating recovering domestic demand after earlier restrictions.
• This resulted in a solid quarterly trade surplus of approximately $2.99B, though it narrowed from Q3's peak as import volumes began normalizing following the lifting of capital controls.
• The export rebound was likely fueled by competitive devaluation and trade liberalization under President Milei’s reforms, which aimed to normalize payments and attract investment, though growth remained uneven month-to-month [Doing Business in Argentina].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Argentina 2024 Q4 Top Trading Products

Argentina Global Trade Core Summary

Argentina's exports are heavily concentrated in agricultural and resource-based products, with cereals, animal fats, and mineral fuels making up nearly 30% of total exports. The top export, HS code 99 (undefined), accounts for 32% of exports, suggesting potential data gaps or a dominant unclassified category. Vehicles also play a key role, contributing 8.7% of exports. Imports, however, are dominated by machinery, vehicles, and electrical equipment, which together make up 45% of total imports. This shows Argentina relies on foreign manufacturing for industrial and technological needs.

Key takeaways:

• Exports are resource-heavy, with strong agricultural and fuel sectors.
• Imports focus on machinery and vehicles, indicating industrial dependency.
• The undefined HS code 99 raises questions about export classification.

Argentina Export-Import Structural Gap

Argentina exports raw and semi-processed goods like cereals, fats, and fuels while importing high-value machinery, electronics, and pharmaceuticals. The overlap in vehicles (HS 87) as both a top export and import suggests some domestic assembly or processing trade. However, the lack of advanced manufacturing exports highlights a gap in industrial upgrading. The country’s trade structure leans toward supplying commodities while relying on imports for technology and finished goods, a common pattern in resource-driven economies. This imbalance could expose Argentina to commodity price volatility and foreign supply chain risks.

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

Check Detailed Argentina Trade HS Code Breakdown

Argentina 2024 Q4 Top Trading Countries

Argentina Global Trade Key Patterns

Argentina's exports show moderate concentration, with Brazil as the top destination (18.4% share), followed by the U.S. (9.0%) and Chile (8.0%). Other key markets include India (6.7%) and Mainland China (4.9%), indicating diversification across Asia and the Americas. Imports are more heavily reliant on Brazil (25.6%) and China (22.6%), with the U.S. (8.0%) and Germany (4.3%) as secondary suppliers. Key asymmetries include:

• Exports spread across Latin America (Brazil, Chile, Peru, Uruguay) and major global markets (U.S., China, India).
• Imports depend heavily on Brazil and China, which together account for nearly half of inbound trade.
• Overlapping trade partners (Brazil, U.S., China, Uruguay) suggest some two-way exchange.

Argentina Export–Import Geographic Gap

Exports reach a broader mix of regions, while imports hinge on two dominant suppliers (Brazil and China). The export list includes distant markets like the Netherlands and Switzerland, but imports are more regionally focused, with Paraguay and Uruguay appearing. This structure implies downstream diversification for exports but upstream dependency for critical imports. The overlap with Brazil and China highlights their dual role as both buyers and suppliers. Trade with the U.S. is balanced, appearing in both top 10 lists.

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 Q4?

Argentina's top exports in Q4 2024 included vehicles (31.96% share, $6.59B), animal/vegetable fats and oils (9.96%, $2.05B), cereals (9.14%, $1.88B), and mineral fuels (8.94%, $1.84B), based on HS code data.

What are the main products Argentina imports in 2024 Q4?

Key imports were vehicles (17.58%, $2.94B), machinery (16.54%, $2.77B), electrical equipment (11.17%, $1.87B), and plastics (4.73%, $791.72M), per HS code analysis.

Which countries are the top destinations for Argentina's exports in 2024 Q4?

Brazil ($4.29B, 25.63%) and Mainland China ($3.79B, 22.62%) were the largest export markets, followed by the US ($1.33B, 7.97%) and Germany ($722.8M, 4.32%).

Which countries supply most of Argentina's imports in 2024 Q4?

Brazil ($3.78B, 18.37%), the US ($1.86B, 9%), and Chile ($1.66B, 8.03%) were Argentina’s primary import sources in Q4 2024.

How balanced are Argentina's export and import markets in 2024 Q4?

Argentina achieved a $2.99B trade surplus in Q4 2024, with exports ($7.05B) growing 32.2% YoY and imports ($5.37B) rising 7.5%, reflecting recovering demand post-capital control adjustments.

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