Argentina - Bolivia Trade 2023 Q3: Deficit Narrows
Key Market Takeaways: Argentina - Bolivia Trade
The bilateral trade relationship between Argentina and Bolivia shows sustained demand weakness and structural pullbacks in Q3 2023.
- $295M Deficit for Argentina: Argentina’s trade deficit with Bolivia narrowed slightly to $295.32M (Imports: $416.18M > Exports: $120.86M), driven by steeper import declines (-50% YoY) than export drops (-10% YoY).
- Resource-for-Industrial Exchange: Argentina - Bolivia trade statistics reveal a lopsided exchange—Argentina supplies industrial inputs (60% unclassified goods, chemicals, machinery) while relying heavily on Bolivian energy (81% mineral fuels).
- Asymmetric Dependency: Bolivia remains Argentina’s critical energy supplier, but Argentina holds higher value-add in processed exports, locking in a complementary but unequal partnership.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Bolivia Trade Trend in Q3 2023
Argentina Export Performance: Shipments to Bolivia
- Total Volume: $120.86M in Q3 2023.
- Growth Trend & Context: YoY decline persisted (-10.11% in Jul, -14.13% in Aug, -10.89% in Sep), signaling sustained demand weakness. No trade policy shifts were reported to explain the trend.
- Key Volatility: September saw a sharp 16.91% MoM rebound after a -5.4% drop in August, suggesting month-end volatility.
Argentina Import Performance: Sourcing from Bolivia
- Total Volume: $416.18M in Q3 2023.
- Growth Trend & Context: YoY collapses exceeded -50% each month (Jul: -52.68%, Aug: -57.28%, Sep: -53.66%), indicating a structural pullback in Argentine demand for Bolivian goods.
- Key Volatility: August recorded the lowest monthly value ($122.67M) and steepest MoM drop (-21.03%), followed by a partial recovery in September (+12.64%).
Argentina - Bolivia Trade Balance & Market Dynamics
- Net Position: Argentina ran a $295.32M trade deficit with Bolivia (Imports: $416.18M > Exports: $120.86M).
- Relationship Status: Heavy reliance on Bolivian imports persists despite a broad-based YoY contraction in trade volumes. The deficit narrowed slightly from 2022 levels due to steeper import declines.
Argentina Import Trend from Bolivia 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 155.33M | -1.86% | -52.68% |
| Aug | 122.67M | -21.03% | -57.28% |
| Sep | 138.17M | 12.64% | -53.66% |
| Total | 416.18M | - | - |
Argentina Export Trend to Bolivia 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 39.60M | 10.94% | -10.11% |
| Aug | 37.46M | -5.4% | -14.13% |
| Sep | 43.80M | 16.91% | -10.89% |
| Total | 120.86M | - | - |
Get Historical Argentina Bolivia Trade Records
Argentina-Bolivia Top Trading Products in Q3 2023
Argentina Export Profile: What Does Argentina Sell to Bolivia
- Top Commodity: HS Code 99 (59.72% share). This likely represents unclassified or special category goods, indicating a dominant but ambiguous export.
- Demand Driver: The mix includes processed goods (HS 11, 23), chemicals (HS 38, 30), and machinery (HS 84), suggesting Bolivia relies on Argentina for industrial inputs and consumer products.
- Concentration: Extreme—HS Code 99 alone accounts for nearly 60% of exports, signaling high dependency on this category.
Argentina Import Profile: What Does Argentina Buy from Bolivia
- Top Commodity: HS Code 27 (81.16% share), primarily mineral fuels (oil, gas).
- Dependency Nature: Energy security dependency. Argentina heavily relies on Bolivia for fossil fuels, with minimal diversification (other imports like ores and agricultural goods are marginal).
Argentina - Bolivia Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity. Argentina supplies processed/industrial goods (e.g., chemicals, machinery) in exchange for Bolivian energy (HS 27).
- Value Chain Position: Argentina holds higher value-add, exporting processed items (HS 38, 84) versus Bolivia’s raw energy exports. The asymmetry suggests Argentina is the industrial partner, Bolivia the resource supplier.
Import Analysis by Product: Bolivia to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 337.78M | 81.16% |
| 12 | 55.40M | 13.31% |
| 08 | 8.97M | 2.16% |
| 26 | 5.29M | 1.27% |
| 25 | 2.82M | 0.68% |
| 31 | 1.27M | 0.30% |
| 20 | 967.15K | 0.23% |
| 80 | 734.38K | 0.18% |
| 28 | 522.30K | 0.13% |
| 48 | 402.21K | 0.10% |
Export Analysis by Product: Argentina to Bolivia (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 72.17M | 59.72% |
| 11 | 8.52M | 7.05% |
| 38 | 7.82M | 6.47% |
| 84 | 7.01M | 5.80% |
| 30 | 5.49M | 4.54% |
| 23 | 3.14M | 2.60% |
| 33 | 2.33M | 1.92% |
| 20 | 2.20M | 1.82% |
| 08 | 1.96M | 1.62% |
| 39 | 1.74M | 1.44% |
Check Detailed Argentina-Bolivia Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade deficit with Bolivia is expected to persist in Q4 2023, driven by structural reliance on Bolivian energy imports (HS 27) and weak export demand for Argentina’s industrial goods. The YoY declines in both exports (-10% range) and imports (-50%+) signal a prolonged contraction, likely tied to Argentina’s domestic economic pressures and Bolivia’s tightening energy supply. However, the September rebound in Argentine exports (16.91% MoM) suggests potential for short-term volatility, possibly from ad-hoc industrial orders. Traders should brace for a period of consolidation, with no near-term policy shifts to rebalance the relationship.
Strategic Moves
- Diversify Energy Sourcing: Argentina’s 81% dependency on Bolivian mineral fuels (HS 27) is a critical vulnerability. Importers must secure alternative suppliers or negotiate fixed-price contracts to mitigate supply shocks.
- Boost Export Competitiveness: With HS Code 99 (unclassified goods) dominating exports, Argentine firms should clarify and promote high-value categories (e.g., machinery under HS 84) to reduce reliance on ambiguous shipments.
- Monitor Bolivian Energy Policy: Bolivia’s domestic energy constraints could further restrict exports. Traders must track regulatory changes and preemptively adjust procurement strategies to avoid shortages.
Frequently Asked Questions
How did Argentina - Bolivia trade perform in 2023 Q3?
Argentina's exports to Bolivia totaled $120.86M, with a YoY decline, while imports from Bolivia reached $416.18M, showing a steep YoY drop exceeding -50% each month.
What are the top exports from Argentina to Bolivia?
The top export is HS Code 99 (unclassified/special category goods), accounting for 59.72% of exports, alongside processed goods, chemicals, and machinery.
What does Argentina import from Bolivia?
Argentina primarily imports mineral fuels (HS Code 27, 81.16% share), reflecting heavy reliance on Bolivian energy resources like oil and gas.
What is the trade balance between Argentina and Bolivia?
Argentina recorded a $295.32M trade deficit with Bolivia in Q3 2023, though the gap narrowed slightly compared to 2022 levels.
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