Argentina - Germany Trade 2023 Whole Year: $2.78B Deficit
Key Market Takeaways: Argentina - Germany Trade
The bilateral trade relationship between Argentina and Germany reflects a volatile but structurally complementary exchange in 2023.
- $2.78B trade deficit for Argentina, driven by heavy machinery imports ($763.96M exports vs. $2.78B imports), with mixed YoY growth and sharp monthly swings.
- Resource-for-Tech trade statistics: Argentina supplies meat (HS 02, 32.8%) and unclassified goods (HS 99, 51.5%), while Germany dominates with machinery (HS 84, 27.9%) and high-tech exports.
- Asymmetric interdependence: Germany holds the high-value position, with Argentina reliant on industrial inputs—limiting trade balance correction potential.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Germany Trade Trend in Whole Year 2023
Argentina Export Performance: Shipments to Germany
- Total Volume: $763.96M in 2023.
- Growth Trend & Context:
- Mixed YoY performance: Strong rebounds in February (+51.29%) and December (+86.78%) offset steep declines in April (-36.65%) and November (-45.89%).
- No specific trade news to contextualize volatility.
- Key Volatility: December saw a 122.1% MoM surge, while November posted a -22.24% drop.
Argentina Import Performance: Sourcing from Germany
- Total Volume: $2.78B in 2023.
- Growth Trend & Context:
- YoY fluctuations ranged from +31.79% (March) to -29.13% (April), with full-year imports marginally down due to Q2 weakness.
- Key Volatility: April recorded the steepest MoM decline (-26.89%), while March had the highest monthly value ($287.66M).
Argentina - Germany Trade Balance & Market Dynamics
- Net Position: Trade deficit of $2.02B (Imports exceeded exports by this margin).
- Relationship Status: Argentina remains heavily dependent on German imports, with export volumes failing to offset inbound trade flows.
Argentina Import Trend from Germany 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 233.36M | 43.09% | 20.05% |
| Feb | 214.74M | -7.98% | 3.21% |
| Mar | 287.66M | 33.96% | 31.79% |
| Apr | 210.30M | -26.89% | -29.13% |
| May | 240.53M | 14.38% | 6.51% |
| Jun | 245.25M | 1.96% | -4.46% |
| Jul | 212.35M | -13.41% | 1.68% |
| Aug | 233.03M | 9.74% | -7.76% |
| Sep | 266.89M | 14.53% | 6.42% |
| Oct | 248.90M | -6.74% | 7.06% |
| Nov | 232.94M | -6.41% | 10.07% |
| Dec | 157.78M | -32.27% | -3.25% |
| Total | 2.78B | - | - |
Argentina Export Trend to Germany 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 51.02M | -4.25% | -25.0% |
| Feb | 74.63M | 46.28% | 51.29% |
| Mar | 57.63M | -22.77% | -14.45% |
| Apr | 56.27M | -2.36% | -36.65% |
| May | 56.55M | 0.5% | -22.92% |
| Jun | 70.82M | 25.23% | 3.95% |
| Jul | 81.92M | 15.67% | 0.31% |
| Aug | 56.32M | -31.25% | -34.57% |
| Sep | 56.86M | 0.96% | -12.02% |
| Oct | 57.62M | 1.33% | -44.54% |
| Nov | 44.81M | -22.24% | -45.89% |
| Dec | 99.51M | 122.1% | 86.78% |
| Total | 763.96M | - | - |
Get Historical Argentina Germany Trade Records
Argentina-Germany Top Trading Products in Whole Year 2023
Argentina Export Profile: What Does Argentina Sell to Germany
- Top Commodity: Rank #1 export is HS Code 99 (51.47% share), likely representing unclassified or special category goods.
- Demand Driver: HS Code 02 (32.81% share) indicates meat exports, suggesting Germany relies on Argentina for agricultural products. This serves Germany's consumer market and food processing needs.
- Concentration: Trade is highly concentrated, with the top two categories (HS 99 and 02) accounting for 84.28% of exports.
Argentina Import Profile: What Does Argentina Buy from Germany
- Top Commodity: Rank #1 import is HS Code 84 (27.93% share), covering machinery and mechanical appliances, critical for industrial operations.
- Dependency Nature: Dominated by high-tech and machinery (HS 84, 85, 90), reflecting Argentina's reliance on German engineering and advanced manufacturing inputs.
Argentina - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina supplies agricultural goods (HS 02) and unclassified commodities (HS 99), while Germany exports machinery and pharmaceuticals (HS 84, 30).
- Value Chain Position: Germany holds the higher value-add position, with exports skewed toward capital goods and technology. Argentina's exports are primarily raw or low-processed materials.
Import Analysis by Product: Germany to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 777.47M | 27.93% |
| 30 | 455.95M | 16.38% |
| 87 | 313.59M | 11.27% |
| 90 | 190.07M | 6.83% |
| 85 | 158.11M | 5.68% |
| 29 | 131.87M | 4.74% |
| 39 | 128.66M | 4.62% |
| 38 | 109.16M | 3.92% |
| 72 | 65.38M | 2.35% |
| 73 | 49.96M | 1.79% |
Export Analysis by Product: Argentina to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 393.21M | 51.47% |
| 02 | 250.69M | 32.81% |
| 51 | 23.43M | 3.07% |
| 04 | 21.40M | 2.80% |
| 12 | 20.13M | 2.64% |
| 84 | 16.25M | 2.13% |
| 23 | 15.09M | 1.98% |
| 22 | 9.36M | 1.22% |
| 08 | 5.81M | 0.76% |
| 05 | 2.14M | 0.28% |
Check Detailed Argentina-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Germany trade relationship is likely to remain volatile in the near term, with Argentina’s export performance hinging on agricultural demand while import dependency on German machinery persists. Given the sharp fluctuations in monthly trade volumes—particularly in key commodities like meat (HS 02) and unclassified goods (HS 99)—exporters should brace for uneven demand. Germany’s dominance in high-value industrial exports (HS 84, 85, 90) ensures Argentina’s trade deficit will endure unless structural shifts occur. However, opportunistic rebounds, like December’s 86.78% export surge, signal pockets of growth for agile traders.
Strategic Moves
- Lock in Agri-Export Contracts: Argentina’s meat exports (HS 02) to Germany are a stable revenue stream. Exporters should secure long-term agreements with German buyers to mitigate price volatility and ensure consistent demand.
- Diversify Import Sources: Argentina’s heavy reliance on German machinery (HS 84) exposes it to supply chain risks. Importers must scout alternative suppliers in the EU or Asia to reduce dependency and negotiate better terms.
- Invest in Export Upgrading: To narrow the trade deficit, Argentine firms should prioritize value-added processing of raw materials (e.g., packaged meats vs. bulk shipments) to command higher prices and reduce reliance on unclassified goods (HS 99).
Frequently Asked Questions
How did Argentina - Germany trade perform in 2023 Whole Year?
Argentina exported $763.96M to Germany and imported $2.78B, resulting in mixed YoY growth with notable monthly volatility. The trade deficit for Argentina was $2.02B.
What are the top exports from Argentina to Germany?
Argentina's top exports to Germany are unclassified/special category goods (HS Code 99, 51.47% share) and meat products (HS Code 02, 32.81% share).
What does Argentina import from Germany?
Argentina primarily imports machinery and mechanical appliances (HS Code 84, 27.93% share) from Germany, along with other high-tech and advanced manufacturing goods.
What is the trade balance between Argentina and Germany?
Argentina recorded a trade deficit of $2.02B with Germany in 2023, as imports significantly exceeded exports.
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