Argentina - Germany Trade 2024 Q1: Deficit & Tech Imbalance
Key Market Takeaways: Argentina - Germany Trade
The bilateral trade relationship between Argentina and Germany is marked by volatility and a persistent trade deficit in Q1 2024.
- Economic Pulse: Argentina posted a $433.79M trade deficit with Germany, driven by $635.93M in imports (down YoY) versus $202.14M in exports (rebounding sharply in March).
- Exchange Structure: Argentina - Germany trade statistics reveal a resource-for-tech dynamic—Argentina supplies agricultural goods (HS 02) and unclassified commodities (HS 99), while Germany dominates with machinery (HS 84) and high-tech exports.
- Strategic Interdependence: The partnership is highly complementary but imbalanced, with Argentina dependent on German capital goods for industrial development.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Germany Trade Trend in Q1 2024
Argentina Export Performance: Shipments to Germany
- Total Volume: $202.14M in Q1 2024.
- Growth Trend & Context:
- Volatile YoY swings: -9.96% in Jan, -44.77% in Feb, then a sharp rebound (+99.54%) in Mar.
- No specific trade news to explain fluctuations.
- Key Volatility: March saw a 179.02% MoM surge, offsetting earlier declines.
Argentina Import Performance: Sourcing from Germany
- Total Volume: $635.93M in Q1 2024.
- Growth Trend & Context:
- Consistently negative YoY trends: -17.96% in Feb, -27.08% in Mar.
- No relevant news to contextualize the contraction.
- Key Volatility: January peaked at $250M (58.45% MoM growth), followed by a -29.53% drop in Feb.
Argentina - Germany Trade Balance & Market Dynamics
- Net Position: Trade deficit of $433.79M (Imports exceed exports).
- Relationship Status: Heavy reliance on German imports, with exports failing to offset the gap despite March’s export rebound.
Argentina Import Trend from Germany 2024 Q1 (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% |
| Total | 635.93M | - | - |
Argentina Export Trend to Germany 2024 Q1 (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% |
| Total | 202.14M | - | - |
Get Historical Argentina Germany Trade Records
Argentina-Germany Top Trading Products in Q1 2024
Argentina Export Profile: What Does Argentina Sell to Germany
- Top Commodity: HS Code 99 (56.21% share). This is likely a residual category for unclassified goods, indicating a high volume of miscellaneous exports.
- Demand Driver: HS Code 02 (28.38% share) represents meat and edible offal, a key agricultural export. Germany imports these for its consumer market and food processing industries.
- Concentration: Trade is highly concentrated, with the top two categories (HS 99 and 02) accounting for 84.59% of exports.
Argentina Import Profile: What Does Argentina Buy from Germany
- Top Commodity: HS Code 84 (27.59% share), covering machinery and mechanical appliances. This reflects Germany’s industrial export strength.
- Dependency Nature: Dominated by high-tech and capital goods (HS 84, 85, 90), indicating critical technology dependency for Argentina’s industrial and infrastructure needs.
Argentina - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports agricultural products (HS 02) and raw materials, while Germany supplies machinery and industrial goods.
- Value Chain Position: Germany holds the higher value-add position, with exports skewed toward advanced machinery and pharmaceuticals (HS 30, 84, 90), while Argentina’s exports are primarily low-value-added commodities.
Import Analysis by Product: Germany to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 175.47M | 27.59% |
| 30 | 85.00M | 13.37% |
| 87 | 52.79M | 8.30% |
| 72 | 48.40M | 7.61% |
| 90 | 43.42M | 6.83% |
| 85 | 42.49M | 6.68% |
| 29 | 40.93M | 6.44% |
| 38 | 33.17M | 5.22% |
| 39 | 28.51M | 4.48% |
| 73 | 10.86M | 1.71% |
Export Analysis by Product: Argentina to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 113.62M | 56.21% |
| 02 | 57.38M | 28.38% |
| 51 | 7.88M | 3.90% |
| 12 | 5.69M | 2.81% |
| 23 | 5.41M | 2.68% |
| 04 | 4.75M | 2.35% |
| 08 | 2.37M | 1.17% |
| 84 | 1.88M | 0.93% |
| 22 | 1.66M | 0.82% |
| 09 | 809.50K | 0.40% |
Check Detailed Argentina-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade with Germany in Q1 2024 revealed a volatile export rebound in March, but persistent import dependency and a widening deficit signal structural challenges. Given Germany’s steady demand for Argentine meat (HS 02) and the unclassified export surge (HS 99), exports may stabilize—but import costs for high-tech machinery (HS 84) will likely keep the deficit elevated. Without diversification or value-added export growth, Argentina’s trade imbalance with Germany will remain a pressure point through 2024.
Strategic Moves
- Lock in Agri-Export Contracts: Argentine meat exporters should secure long-term agreements with German buyers to stabilize revenue streams, leveraging March’s demand spike.
- Diversify Import Sources: Argentine manufacturers must reduce reliance on German machinery (HS 84) by exploring alternative suppliers in Asia or regional markets to mitigate cost volatility.
- Upgrade Export Complexity: Argentina’s government and exporters should prioritize value-added processing for key commodities (e.g., processed meats under HS 16) to capture higher margins and reduce dependence on raw material sales.
Frequently Asked Questions
How did Argentina - Germany trade perform in 2024 Q1?
Argentina's exports to Germany totaled $202.14M, with volatile growth (sharp rebound in March), while imports from Germany reached $635.93M, showing consistent YoY declines.
What are the top exports from Argentina to Germany?
Argentina primarily exports unclassified goods (HS Code 99, 56.21%) and meat/edible offal (HS Code 02, 28.38%), accounting for 84.59% of total exports.
What does Argentina import from Germany?
Argentina's top imports from Germany are machinery/mechanical appliances (HS Code 84, 27.59%) and other high-tech/capital goods (HS Codes 85, 90), reflecting industrial dependency.
What is the trade balance between Argentina and Germany?
Argentina recorded a trade deficit of $433.79M in Q1 2024, with imports significantly exceeding exports despite March’s export surge.
Argentina - Germany Trade 2024 Whole Year: Persistent Deficit & Volatility
Argentina's trade deficit with Germany hits $1.84B in 2024, driven by machinery and pharmaceuticals imports. Explore Argentina-Germany trade trends and top trading products via yTrade data.
Argentina - Germany Trade 2024 Q2: Deficit & Resource-Tech Gap
Argentina's trade deficit with Germany hit $428.9M in Q2 2024, driven by raw material exports vs. high-tech imports. Explore Argentina-Germany trade trends & top trading products via yTrade data.
