Argentina - Germany Trade 2024 Whole Year: Persistent Deficit & Volatility
Key Market Takeaways: Argentina - Germany Trade
The bilateral trade relationship between Argentina and Germany is marked by volatility and a persistent trade deficit in 2024.
- Economic Pulse: Argentina runs a $1.84B trade deficit with Germany, importing $2.66B (mostly machinery and pharmaceuticals) while exporting just $816.27M (dominated by agricultural goods). Volatility spikes in both directions.
- Exchange Structure: Argentina - Germany trade statistics reveal a resource-for-tech imbalance—Argentina supplies meat and unclassified goods (81.65% of exports), while Germany dominates with high-value machinery (HS 84) and pharmaceuticals (HS 30).
- Strategic Interdependence: Complementary but unequal—Germany holds the high-value position, 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 Whole Year 2024
Argentina Export Performance: Shipments to Germany
- Total Volume: $816.27M in 2024.
- Growth Trend & Context:
- Volatile YoY swings, ranging from -44.77% (Feb) to +99.54% (Mar). No clear directional trend.
- Key Volatility: March saw a 179.02% MoM surge, while December dropped -22.96% MoM.
Argentina Import Performance: Sourcing from Germany
- Total Volume: $2.66B in 2024.
- Growth Trend & Context:
- Mixed YoY performance, with December spiking +53.77% YoY but most months in negative territory.
- Key Volatility: January had the highest value ($250M), while June hit the lowest ($194.51M).
Argentina - Germany Trade Balance & Market Dynamics
- Net Position: Trade Deficit of $1.84B (Imports $2.66B > Exports $816.27M).
- Relationship Status: Heavy reliance on German imports, with exports failing to offset the imbalance.
Argentina Import Trend from Germany 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 250.00M | 58.45% | 7.13% |
| Feb | 176.17M | -29.53% | -17.96% |
| Mar | 209.77M | 19.07% | -27.08% |
| Apr | 209.50M | -0.13% | -0.38% |
| May | 205.07M | -2.12% | -14.74% |
| Jun | 194.51M | -5.15% | -20.69% |
| Jul | 232.22M | 19.39% | 9.36% |
| Aug | 205.82M | -11.37% | -11.68% |
| Sep | 249.76M | 21.35% | -6.42% |
| Oct | 249.97M | 0.08% | 0.43% |
| Nov | 230.22M | -7.9% | -1.17% |
| Dec | 242.61M | 5.38% | 53.77% |
| Total | 2.66B | - | - |
Argentina Export Trend to Germany 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 45.93M | -53.84% | -9.96% |
| Feb | 41.21M | -10.27% | -44.77% |
| Mar | 114.99M | 179.02% | 99.54% |
| Apr | 49.99M | -56.52% | -11.16% |
| May | 67.24M | 34.5% | 18.9% |
| Jun | 62.94M | -6.39% | -11.12% |
| Jul | 52.29M | -16.93% | -36.17% |
| Aug | 56.26M | 7.6% | -0.1% |
| Sep | 75.90M | 34.9% | 33.48% |
| Oct | 94.18M | 24.08% | 63.45% |
| Nov | 87.73M | -6.85% | 95.8% |
| Dec | 67.59M | -22.96% | -32.08% |
| Total | 816.27M | - | - |
Get Historical Argentina Germany Trade Records
Argentina-Germany Top Trading Products in Whole Year 2024
Argentina Export Profile: What Does Argentina Sell to Germany
- Top Commodity: HS Code 99 (49.89% share). Likely unclassified or special category goods, given the high share and ambiguous HS code.
- Demand Driver: HS Code 02 (31.76% share, meat and edible offal) suggests Germany relies on Argentina for agricultural products, serving its consumer market.
- Concentration: Extreme—top 2 categories (HS 99 and 02) account for 81.65% of exports.
Argentina Import Profile: What Does Argentina Buy from Germany
- Top Commodity: HS Code 84 (28.69% share, nuclear reactors/boilers/machinery). Critical for industrial infrastructure.
- Dependency Nature: Dominated by machinery (HS 84, 87, 90) and pharmaceuticals (HS 30), reflecting reliance on German high-tech and precision engineering.
Argentina - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina supplies agricultural goods (HS 02) and raw materials, while Germany exports machinery and pharmaceuticals.
- Value Chain Position: Germany holds the higher value-add position, with complex exports (machinery, pharmaceuticals) versus Argentina’s commodity-heavy exports.
Import Analysis by Product: Germany to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 761.80M | 28.69% |
| 30 | 450.83M | 16.98% |
| 87 | 301.02M | 11.34% |
| 90 | 186.19M | 7.01% |
| 85 | 168.69M | 6.35% |
| 29 | 114.27M | 4.30% |
| 39 | 112.17M | 4.22% |
| 38 | 111.18M | 4.19% |
| 72 | 75.72M | 2.85% |
| 73 | 49.98M | 1.88% |
Export Analysis by Product: Argentina to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 407.27M | 49.89% |
| 02 | 259.21M | 31.76% |
| 12 | 28.64M | 3.51% |
| 51 | 26.44M | 3.24% |
| 04 | 24.24M | 2.97% |
| 23 | 22.56M | 2.76% |
| 84 | 13.72M | 1.68% |
| 08 | 12.70M | 1.56% |
| 22 | 8.77M | 1.07% |
| 20 | 5.22M | 0.64% |
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 showing erratic swings while its import dependency on German high-tech goods persists. Given the structural imbalance—Argentina’s heavy reliance on German machinery and pharmaceuticals versus its commodity-driven exports—the trade deficit of $1.84B is expected to widen unless corrective measures are taken. However, Germany’s steady demand for Argentine agricultural products (HS 02) provides a stable revenue stream that exporters can capitalize on. Traders should brace for continued fluctuations, particularly in unclassified goods (HS 99), which dominate nearly half of Argentina’s exports to Germany.
Strategic Moves
- Diversify Export Composition: Argentine exporters must reduce reliance on HS 99 (unclassified goods) and expand into higher-value agricultural subcategories (e.g., processed meats, dairy) to capture premium margins in the German market.
- Lock in Long-Term Supply Contracts: German importers of Argentine meat (HS 02) should secure multi-year agreements to mitigate price volatility and ensure stable supply chains amid global commodity shocks.
- Invest in Local Tech Partnerships: Argentine industrial firms should collaborate with German machinery producers (HS 84) to co-develop localized manufacturing solutions, reducing import dependency while upgrading domestic capabilities.
Frequently Asked Questions
How did Argentina - Germany trade perform in 2024 Whole Year?
Argentina exported $816.27M to Germany and imported $2.66B, with volatile growth trends in both directions. The trade relationship showed no clear directional trend but significant monthly fluctuations.
What are the top exports from Argentina to Germany?
Argentina’s top exports to Germany are unclassified/special category goods (HS Code 99) and meat/edible offal (HS Code 02), accounting for 81.65% of total exports.
What does Argentina import from Germany?
Argentina primarily imports machinery (HS Code 84), vehicles (HS Code 87), and pharmaceuticals (HS Code 30) from Germany, reflecting reliance on high-tech and precision engineering.
What is the trade balance between Argentina and Germany?
Argentina recorded a trade deficit of $1.84B with Germany in 2024, driven by heavy reliance on German imports exceeding its exports.
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