Argentina - Colombia Trade 2023 Q1: Surplus Amid Cooling Demand

Key Market Takeaways: Argentina - Colombia Trade

The bilateral trade relationship between Argentina and Colombia shows Argentina as a dominant net exporter, though with signs of cooling demand in Q1 2023.

• Economic Pulse: Argentina holds a $300.1M trade surplus ($392.22M exports vs. $92.12M imports), but YoY export growth decelerated sharply, while imports collapsed by March.
• Exchange Structure: Argentina - Colombia trade statistics reveal a resource-for-tech complementarity—Argentina exports high-value specialized goods (HS 99) and vehicles (HS 87), while Colombia supplies energy (HS 27) and industrial inputs.
• Strategic Interdependence: Argentina maintains a higher value-add position, but Colombia’s role as an energy supplier underscores critical dependency.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Argentina-Colombia Trade Trend in Q1 2023

Argentina Export Performance: Shipments to Colombia

• Total Volume: $392.22M in Q1 2023.
• Growth Trend & Context:
  • YoY growth remained robust but decelerated sharply, from +127.55% in January to +38.31% in March.
  • Sequential monthly declines (-7.71% MoM in Jan, -11.71% in Feb, -9.81% in Mar) suggest demand cooling or inventory adjustments.
• Key Volatility: No extreme monthly swings; consistent MoM contraction.

Argentina Import Performance: Sourcing from Colombia

• Total Volume: $92.12M in Q1 2023.
• Growth Trend & Context:
  • YoY growth flipped from +19.85% in January to -19.66% in March, signaling a demand collapse or supply diversion.
  • February’s -23.69% MoM drop was the sharpest monthly contraction.
• Key Volatility: March saw a 44.25% MoM rebound after February’s slump, indicating erratic order patterns.

Argentina - Colombia Trade Balance & Market Dynamics

• Net Position: Argentina holds a $300.1M trade surplus with Colombia (Exports $392.22M vs. Imports $92.12M).
• Relationship Status: Dominant net exporter, but declining YoY import demand may reflect reduced Colombian competitiveness or Argentine austerity measures.

Argentina Import Trend from Colombia 2023 Q1 (Source: yTrade)**

Argentina Export Trend to Colombia 2023 Q1 (Source: yTrade)**

Get Historical Argentina Colombia Trade Records

Argentina-Colombia Top Trading Products in Q1 2023

Argentina Export Profile: What Does Argentina Sell to Colombia

• Top Commodity: HS Code 99 dominates exports, accounting for 44.07% ($172.87M).
• Demand Driver: Colombia likely imports these goods for industrial processing or specialized use, given the high value concentration.
• Concentration: The top 3 exports (HS 99, 87, 10) make up 84.14% of total exports, indicating heavy reliance on a few categories.

Argentina Import Profile: What Does Argentina Buy from Colombia

• Top Commodity: HS Code 27 (mineral fuels/oils) leads imports at 42.53% ($39.18M).
• Dependency Nature: Energy security dependency, as Colombia supplies critical fuel products.

Argentina - Colombia Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina exports high-value specialized goods (HS 99) and vehicles (HS 87) while importing energy (HS 27) and industrial inputs (HS 39, 38).
• Value Chain Position: Argentina holds the higher value-add position, exporting complex goods (e.g., HS 99, 87) versus Colombia’s commodity-heavy exports (HS 27, 15).

Import Analysis by Product: Colombia to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to Colombia (Source: yTrade)

Check Detailed Argentina-Colombia Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Argentina’s trade surplus with Colombia will likely narrow in Q2 2023 as export growth continues to decelerate and import volatility persists. The sharp YoY decline in Argentine imports of Colombian goods (-19.66% in March) suggests weakening demand or supply chain disruptions, while slowing export growth (+38.31% YoY in March, down from +127.55% in January) indicates cooling Colombian appetite for Argentine specialized goods. However, Argentina’s high-value export dominance (HS 99, 87) and Colombia’s energy reliance (HS 27) will sustain the complementary trade relationship, albeit at a moderated pace. Traders should prepare for asymmetric recovery—exports may stabilize, while imports could remain erratic.

Strategic Moves

• Lock in Energy Supply Contracts: Argentine importers must secure long-term agreements for Colombian mineral fuels (HS 27) to hedge against price swings and ensure stable energy inflows amid volatile monthly order patterns.
• Diversify Export Markets: Argentine exporters should reduce reliance on Colombia for HS 99 and 87 shipments by targeting other Latin American markets, as decelerating demand signals saturation risk.
• Optimize Inventory for Volatility: Colombian buyers of Argentine goods should adopt just-in-time (JIT) inventory strategies to align with softening but still-positive YoY growth, avoiding overstocking amid sequential monthly declines.

Frequently Asked Questions

How did Argentina - Colombia trade perform in 2023 Q1?

Argentina exported $392.22M to Colombia, with YoY growth decelerating sharply, while imports from Colombia totaled $92.12M, showing a demand collapse.

What are the top exports from Argentina to Colombia?

The top exports are HS Code 99 (44.07% share), HS Code 87, and HS Code 10, accounting for 84.14% of total exports.

What does Argentina import from Colombia?

Argentina primarily imports HS Code 27 (mineral fuels/oils, 42.53% share), along with HS Codes 39 and 38 for industrial inputs.

What is the trade balance between Argentina and Colombia?

Argentina holds a $300.1M trade surplus with Colombia, driven by higher exports of specialized goods and lower import demand.