Argentina - Germany Trade 2023 Q3: Widening Deficit
Key Market Takeaways: Argentina - Germany Trade
The bilateral trade relationship between Argentina and Germany reflects a widening trade deficit amid volatile demand shifts in Q3 2023.
- Economic Pulse: Argentina posted a $517.17M trade deficit with Germany, with imports ($712.27M) outpacing exports ($195.10M) by 3.65x. YoY export declines (-34.57% in August) signal weakening competitiveness.
- Exchange Structure: Argentina - Germany trade statistics reveal a resource-for-tech model: Argentina ships raw materials (HS Code 99, 48.09% of exports) while importing German machinery (HS Code 84, 29.21% of imports).
- Strategic Interdependence: Germany holds the high-value position, supplying critical industrial equipment, while Argentina remains a commodity-dependent buyer.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Germany Trade Trend in Q3 2023
Argentina Export Performance: Shipments to Germany
- Total Volume: $195.10M in Q3 2023.
- Growth Trend & Context:
- YoY declines in August (-34.57%) and September (-12.02%) offset a flat July (+0.31%), signaling weakening demand or competitive shifts. No policy news to contextualize.
- Key Volatility: August saw a sharp 31.25% MoM drop, the steepest quarterly contraction.
Argentina Import Performance: Sourcing from Germany
- Total Volume: $712.27M in Q3 2023.
- Growth Trend & Context:
- Mixed YoY performance: +1.68% in July, -7.76% in August, then +6.42% in September, suggesting supply chain adjustments. No news to explain fluctuations.
- Key Volatility: September posted the highest monthly value ($266.89M) with a 14.53% MoM surge, indicating renewed procurement activity.
Argentina - Germany Trade Balance & Market Dynamics
- Net Position: Trade deficit of $517.17M (Imports exceeded exports by 3.65x).
- Relationship Status: Heavy reliance on German industrial/tech imports, with exports failing to keep pace. Argentina remains a net buyer in this pairing.
Argentina Import Trend from Germany 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 212.35M | -13.41% | 1.68% |
| Aug | 233.03M | 9.74% | -7.76% |
| Sep | 266.89M | 14.53% | 6.42% |
| Total | 712.27M | - | - |
Argentina Export Trend to Germany 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 81.92M | 15.67% | 0.31% |
| Aug | 56.32M | -31.25% | -34.57% |
| Sep | 56.86M | 0.96% | -12.02% |
| Total | 195.10M | - | - |
Get Historical Argentina Germany Trade Records
Argentina-Germany Top Trading Products in Q3 2023
Argentina Export Profile: What Does Argentina Sell to Germany
- Top Commodity: Rank #1 export is HS Code 99 (48.09% share).
- Demand Driver: Germany likely uses these for industrial processing, given the dominance of a single category.
- Concentration: Highly concentrated, with HS Code 99 alone accounting for nearly half of exports.
Argentina Import Profile: What Does Argentina Buy from Germany
- Top Commodity: Rank #1 import is HS Code 84 (29.21% share).
- Dependency Nature: Critical technology dependency, as HS Code 84 (machinery/industrial equipment) leads imports.
Argentina - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (HS Code 99) and imports high-tech machinery (HS Code 84).
- Value Chain Position: Germany holds the higher value-add position, supplying advanced machinery while Argentina provides bulk commodities.
Import Analysis by Product: Germany to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 208.07M | 29.21% |
| 30 | 102.12M | 14.34% |
| 87 | 87.66M | 12.31% |
| 90 | 54.82M | 7.70% |
| 85 | 41.36M | 5.81% |
| 29 | 32.72M | 4.59% |
| 39 | 32.10M | 4.51% |
| 38 | 22.71M | 3.19% |
| 73 | 14.09M | 1.98% |
| 32 | 12.56M | 1.76% |
Export Analysis by Product: Argentina to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 93.82M | 48.09% |
| 02 | 68.14M | 34.93% |
| 23 | 6.60M | 3.38% |
| 12 | 5.60M | 2.87% |
| 04 | 5.50M | 2.82% |
| 51 | 4.65M | 2.38% |
| 84 | 4.43M | 2.27% |
| 22 | 2.70M | 1.38% |
| 87 | 965.97K | 0.50% |
| 07 | 822.10K | 0.42% |
Check Detailed Argentina-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina - Germany trade forecast for Q4 2023 remains cautious, with Argentina’s export decline likely to persist due to weakening demand for its primary commodity (HS Code 99). Germany’s industrial machinery imports (HS Code 84) may stabilize, but Argentina’s trade deficit—already at 3.65x—will pressure its balance sheet. Expect volatility in raw material prices and potential supply chain disruptions to further strain the exchange. Without policy intervention, this resource-for-tech imbalance will deepen, leaving Argentina increasingly dependent on German high-value imports.
Strategic Moves
- Diversify Export Markets: Argentine exporters must reduce reliance on HS Code 99 by targeting alternative buyers in the EU or Asia to mitigate demand shocks.
- Lock in Machinery Contracts: Importers should secure long-term agreements for German industrial equipment (HS Code 84) to hedge against price surges and supply bottlenecks.
- Push for Trade Incentives: The Argentine government must negotiate tariff reductions or export subsidies for non-commodity goods to rebalance the deficit with Germany.
Frequently Asked Questions
How did Argentina - Germany trade perform in 2023 Q3?
Argentina's exports to Germany totaled $195.10M, with YoY declines in August and September. Imports from Germany reached $712.27M, showing mixed YoY growth but a strong MoM surge in September.
What are the top exports from Argentina to Germany?
Argentina's top export to Germany is HS Code 99, accounting for 48.09% of total exports, likely industrial raw materials for processing.
What does Argentina import from Germany?
Argentina's top import from Germany is HS Code 84 (machinery/industrial equipment), representing 29.21% of total imports, reflecting a critical technology dependency.
What is the trade balance between Argentina and Germany?
Argentina recorded a trade deficit of $517.17M with Germany in Q3 2023, with imports exceeding exports by 3.65x.
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.
Argentina - Germany Trade 2023 Q4: Deficit Widens
Argentina's trade deficit with Germany hit $437.67M in Q4 2023, driven by a resource-for-tech exchange. Explore Argentina Germany trade trends and top trading products via yTrade data.
