Argentina - Germany Trade 2023 Q1: Deficit & Volatility
Key Market Takeaways: Argentina - Germany Trade
The bilateral trade relationship between Argentina and Germany shows growth with high volatility in Q1 2023.
- Trade Deficit & Volatility: Argentina posted a $552.48M deficit, with imports ($735.75M) far outpacing exports ($183.27M). YoY swings were erratic, from sharp contractions to sudden surges.
- Resource-for-Tech Exchange: Argentina - Germany trade statistics reveal a lopsided structure: agricultural goods (like meat) and unclassified exports (HS 99) flow to Germany, while machinery (HS 84) and high-tech imports dominate.
- Asymmetrical Dependency: Germany holds the value-add advantage, supplying critical industrial and medical equipment, while Argentina remains a niche supplier of raw materials.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Germany Trade Trend in Q1 2023
Argentina Export Performance: Shipments to Germany
- Total Volume: $183.27M in Q1 2023.
- Growth Trend & Context:
- YoY swings were volatile: January (-25.0%) and March (-14.45%) contractions offset by February's 51.29% surge.
- Key Volatility: February saw a 46.28% MoM spike, while March dropped sharply (-22.77% MoM).
Argentina Import Performance: Sourcing from Germany
- Total Volume: $735.75M in Q1 2023.
- Growth Trend & Context:
- Strong YoY growth in March (+31.79%) and January (+20.05%), with February muted (+3.21%).
- Key Volatility: March imports peaked at $287.66M (33.96% MoM growth), while February dipped -7.98% MoM.
Argentina - Germany Trade Balance & Market Dynamics
- Net Position: Trade deficit of $552.48M (Imports exceeded exports).
- Relationship Status: Argentina remains heavily dependent on German imports, with exports failing to offset the gap.
Argentina Import Trend from Germany 2023 Q1 (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% |
| Total | 735.75M | - | - |
Argentina Export Trend to Germany 2023 Q1 (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% |
| Total | 183.27M | - | - |
Get Historical Argentina Germany Trade Records
Argentina-Germany Top Trading Products in Q1 2023
Argentina Export Profile: What Does Argentina Sell to Germany
- Top Commodity: Rank #1 export is HS Code 99 (56.05% share). This likely represents unclassified or special category goods, possibly including services or non-merchandise trade.
- Demand Driver: The second-largest export is HS Code 02 (meat and edible meat offal) at 31.49%, indicating Germany sources agricultural products from Argentina for consumer markets or food processing.
- Concentration: Trade is highly concentrated, with the top two categories (HS 99 and 02) accounting for 87.54% of exports.
Argentina Import Profile: What Does Argentina Buy from Germany
- Top Commodity: Rank #1 import is HS Code 84 (nuclear reactors, boilers, machinery) at 26.00%, reflecting Argentina's reliance on German industrial equipment.
- Dependency Nature: High-tech and machinery (HS 84, 85, 90) dominate, suggesting critical technology dependency for Argentina's industrial and medical sectors.
Argentina - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports agricultural goods (HS 02) and unclassified items (HS 99), while Germany supplies machinery and pharmaceuticals (HS 84, 30).
- Value Chain Position: Germany holds the higher value-add position, exporting complex machinery and chemicals, while Argentina provides raw or semi-processed goods.
Import Analysis by Product: Germany to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 191.26M | 26.00% |
| 30 | 150.15M | 20.41% |
| 87 | 70.41M | 9.57% |
| 90 | 52.66M | 7.16% |
| 85 | 34.92M | 4.75% |
| 72 | 34.25M | 4.65% |
| 38 | 33.29M | 4.52% |
| 29 | 31.94M | 4.34% |
| 39 | 31.54M | 4.29% |
| 73 | 11.91M | 1.62% |
Export Analysis by Product: Argentina to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 102.72M | 56.05% |
| 02 | 57.72M | 31.49% |
| 04 | 4.53M | 2.47% |
| 51 | 4.26M | 2.32% |
| 12 | 3.04M | 1.66% |
| 22 | 2.66M | 1.45% |
| 23 | 2.39M | 1.30% |
| 84 | 2.27M | 1.24% |
| 08 | 1.53M | 0.84% |
| 09 | 834.33K | 0.46% |
Check Detailed Argentina-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Germany trade relationship is poised for continued volatility in the near term, driven by Argentina’s heavy reliance on German machinery and technology imports amid fluctuating agricultural exports. While Germany’s demand for Argentine meat (HS 02) remains stable, the unclassified nature of HS 99 exports introduces uncertainty. The trade deficit is likely to persist unless Argentina diversifies its export basket or secures higher-value trade terms. Traders should brace for uneven growth, with potential upside if Argentina stabilizes export performance and Germany’s industrial demand holds firm.
Strategic Moves
- Lock in Agri-Export Contracts: Argentine meat exporters should secure long-term agreements with German buyers to mitigate price volatility and ensure stable revenue streams.
- Diversify Import Sources: Argentine importers must reduce dependency on German machinery (HS 84) by exploring alternative suppliers in the EU or Asia to improve bargaining power.
- Invest in Export Upgrading: Argentina should prioritize value-added processing for key exports (e.g., meat, agricultural goods) to capture higher margins and reduce reliance on unclassified trade (HS 99).
Frequently Asked Questions
How did Argentina - Germany trade perform in 2023 Q1?
Argentina's exports to Germany totaled $183.27M, with volatile YoY swings, while imports from Germany reached $735.75M, showing strong YoY growth in March and January.
What are the top exports from Argentina to Germany?
Argentina's top exports to Germany are HS Code 99 (unclassified or special category goods) and HS Code 02 (meat and edible meat offal), accounting for 87.54% of total exports.
What does Argentina import from Germany?
Argentina primarily imports HS Code 84 (nuclear reactors, boilers, machinery) from Germany, reflecting reliance on German industrial equipment and high-tech products.
What is the trade balance between Argentina and Germany?
Argentina recorded a trade deficit of $552.48M with Germany in Q1 2023, as imports significantly exceeded exports.
Argentina - Germany Trade 2023 Whole Year: $2.78B Deficit
Argentina's trade deficit with Germany hit $2.78B in 2023, driven by machinery imports. Explore Argentina-Germany trade trends and top trading products via yTrade data.
Argentina - Germany Trade 2023 Q2: Widening Deficit
Argentina's trade deficit with Germany hit $512.43M in Q2 2023, driven by machinery imports and raw material exports. Explore Argentina-Germany trade trends and top products via yTrade data.
