Argentina - Germany Trade 2024 Q2: Deficit & Resource-Tech Gap
Key Market Takeaways: Argentina - Germany Trade
The bilateral trade relationship between Argentina and Germany reflects a volatile but structurally imbalanced exchange in Q2 2024.
- Deficit-Driven Trade: Argentina posted a $428.9M trade deficit, with exports ($180.18M) covering just 30% of imports ($609.08M). YoY declines in both exports (-11% avg.) and imports (-18% avg.) signal weakening momentum.
- Resource-for-Tech Exchange: Argentina - Germany trade statistics show a lopsided dynamic: Argentina supplies raw materials (49.7% concentration in HS 99, likely commodities) while Germany dominates with machinery (27.3% share), pharmaceuticals, and high-tech goods.
- Asymmetric Interdependence: Germany holds the high-value position, with Argentina dependent on its industrial and medical exports—a classic case of commodity exporter vs. advanced industrial supplier.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Germany Trade Trend in Q2 2024
Argentina Export Performance: Shipments to Germany
- Total Volume: $180.18M in Q2 2024.
- Growth Trend & Context:
- YoY declines in April (-11.16%) and June (-11.12%) were partially offset by a May rebound (+18.9%).
- No news-driven explanations for volatility.
- Key Volatility: May saw a sharp 34.5% MoM surge, while April recorded a -56.52% MoM drop.
Argentina Import Performance: Sourcing from Germany
- Total Volume: $609.08M in Q2 2024.
- Growth Trend & Context:
- Steep YoY contractions: May (-14.74%), June (-20.69%).
- No relevant news to contextualize declines.
- Key Volatility: June imports fell -5.15% MoM, the lowest monthly value ($194.51M).
Argentina - Germany Trade Balance & Market Dynamics
- Net Position: Trade deficit of $428.9M (Exports $180.18M vs. Imports $609.08M).
- Relationship Status: Heavy reliance on German imports, with exports covering only 30% of import costs.
Argentina Import Trend from Germany 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 209.50M | -0.13% | -0.38% |
| May | 205.07M | -2.12% | -14.74% |
| Jun | 194.51M | -5.15% | -20.69% |
| Total | 609.08M | - | - |
Argentina Export Trend to Germany 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 49.99M | -56.52% | -11.16% |
| May | 67.24M | 34.5% | 18.9% |
| Jun | 62.94M | -6.39% | -11.12% |
| Total | 180.18M | - | - |
Get Historical Argentina Germany Trade Records
Argentina-Germany Top Trading Products in Q2 2024
Argentina Export Profile: What Does Argentina Sell to Germany
- Top Commodity: Rank #1 export is HS Code 99 (49.73% share). Exact product name unavailable, but high concentration suggests a specialized commodity or service.
- Demand Driver: Secondary exports (HS 02, 04, 51) include meat, dairy, and textiles—indicating Germany sources raw materials for food and manufacturing.
- Concentration: Extreme. HS Code 99 alone accounts for nearly half of exports, signaling reliance on a single category.
Argentina Import Profile: What Does Argentina Buy from Germany
- Top Commodity: Rank #1 import is HS Code 84 (27.27% share)—machinery/industrial equipment, likely for Argentina’s manufacturing or infrastructure.
- Dependency Nature: Dominated by high-tech (HS 84, 85, 90) and pharmaceuticals (HS 30). Reflects critical technology dependency, especially in medical and industrial sectors.
Argentina - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina supplies raw materials (food, textiles); Germany delivers machinery, pharmaceuticals, and precision instruments.
- Value Chain Position: Germany holds the high-value position. Its exports (complex machinery, pharmaceuticals) contrast with Argentina’s commodity-heavy exports. Trade imbalance favors Germany’s advanced industrial base.
Import Analysis by Product: Germany to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 166.08M | 27.27% |
| 30 | 105.60M | 17.34% |
| 87 | 76.30M | 12.53% |
| 85 | 37.61M | 6.18% |
| 90 | 37.29M | 6.12% |
| 29 | 29.95M | 4.92% |
| 39 | 29.91M | 4.91% |
| 38 | 28.38M | 4.66% |
| 73 | 11.65M | 1.91% |
| 72 | 8.67M | 1.42% |
Export Analysis by Product: Argentina to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 89.60M | 49.73% |
| 02 | 57.35M | 31.83% |
| 04 | 7.84M | 4.35% |
| 51 | 7.09M | 3.94% |
| 84 | 4.39M | 2.44% |
| 08 | 4.11M | 2.28% |
| 23 | 3.00M | 1.67% |
| 12 | 2.55M | 1.42% |
| 22 | 1.55M | 0.86% |
| 09 | 637.51K | 0.35% |
Check Detailed Argentina-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Germany trade relationship is likely to face continued volatility in the near term, with Argentina’s export performance remaining fragile due to over-reliance on a single commodity (HS Code 99) and Germany’s import demand weakening amid broader economic headwinds. The persistent trade deficit ($428.9M in Q2 2024) underscores Argentina’s structural dependency on high-value German machinery and pharmaceuticals, which will keep the balance skewed in Germany’s favor. However, May’s export rebound (+18.9% YoY) signals latent potential in niche sectors like meat and textiles—if Argentina can stabilize supply chains and mitigate month-to-month fluctuations, selective growth opportunities may emerge.
Strategic Moves
- Diversify Export Basket: Argentine exporters must reduce reliance on HS Code 99 by aggressively marketing secondary goods (meat, dairy, textiles) to German buyers, leveraging Germany’s demand for raw materials in food and manufacturing.
- Lock in Long-Term Tech Imports: Argentine importers should negotiate multi-year contracts for critical German machinery (HS 84) and pharmaceuticals (HS 30) to hedge against price volatility and supply chain disruptions.
- Pursue Trade Deficit Mitigation: The Argentine government must incentivize value-added exports (e.g., processed foods, biofuels) and attract German FDI in high-tech sectors to rebalance the lopsided resource-for-tech exchange model.
Frequently Asked Questions
How did Argentina - Germany trade perform in 2024 Q2?
Argentina's exports to Germany totaled $180.18M in Q2 2024, with mixed YoY growth (-11.16% in April, +18.9% in May). Imports from Germany fell sharply (-14.74% YoY in May, -20.69% in June), totaling $609.08M.
What are the top exports from Argentina to Germany?
Argentina's top export to Germany is HS Code 99 (49.73% share), likely a specialized commodity. Secondary exports include meat, dairy (HS 02, 04), and textiles (HS 51).
What does Argentina import from Germany?
Argentina primarily imports machinery/industrial equipment (HS Code 84, 27.27% share), high-tech goods (HS 85, 90), and pharmaceuticals (HS 30) from Germany.
What is the trade balance between Argentina and Germany?
Argentina recorded a trade deficit of $428.9M in Q2 2024, with exports covering only 30% of import costs. The gap reflects heavy reliance on German high-tech and industrial goods.
Argentina - Germany Trade 2024 Q1: Deficit & Tech Imbalance
Argentina's Q1 2024 trade deficit with Germany hit $433.79M, driven by tech imports. Explore Argentina-Germany trade trends and top trading products via yTrade data.
Argentina - Germany Trade 2024 Q3: Persistent Deficit
Argentina's trade deficit with Germany hit $503.35M in Q3 2024, driven by machinery and pharma imports. Explore Argentina Germany trade trends and top trading products via yTrade data.
