Argentina - India Trade 2023 Q1: Shrinking Surplus
Key Market Takeaways: Argentina - India Trade
The bilateral trade relationship between Argentina and India contracted sharply in Q1 2023, with both exports and imports declining year-over-year.
- Economic Pulse: Argentina holds a $259.58M trade surplus with India ($593.00M exports vs. $333.42M imports), but both flows are shrinking YoY, signaling weakening demand.
- Exchange Structure: Argentina - India trade statistics reveal a resource-for-tech dynamic—Argentina supplies 82.91% fats/oils for industrial use, while India exports high-value organic chemicals (24.54% share).
- Strategic Interdependence: Highly complementary but imbalanced: Argentina’s commodity-heavy exports face volatility, while India retains value-add dominance.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-India Trade Trend in Q1 2023
Argentina Export Performance: Shipments to India
- Total Volume: $593.00M in Q1 2023.
- Growth Trend & Context: YoY declines persisted across all months, steepest in March (-53.84%). No mitigating news to explain the slump.
- Key Volatility: February saw a 25.49% MoM rebound, but March erased gains with a -19.71% drop.
Argentina Import Performance: Sourcing from India
- Total Volume: $333.42M in Q1 2023.
- Growth Trend & Context: Consistent YoY contractions, worst in January (-21.1%). No news to contextualize the downtrend.
- Key Volatility: January’s 30.6% MoM surge was followed by a -28.11% plunge in March.
Argentina - India Trade Balance & Market Dynamics
- Net Position: Argentina holds a $259.58M trade surplus with India (Exports: $593.00M, Imports: $333.42M).
- Relationship Status: Strong net exporter position, though both flows are contracting YoY.
Argentina Import Trend from India 2023 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 108.17M | 30.6% | -21.1% |
| Feb | 131.04M | 21.14% | -15.85% |
| Mar | 94.21M | -28.11% | -20.27% |
| Total | 333.42M | - | - |
Argentina Export Trend to India 2023 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 181.76M | -54.91% | -27.6% |
| Feb | 228.09M | 25.49% | -10.64% |
| Mar | 183.15M | -19.71% | -53.84% |
| Total | 593.00M | - | - |
Get Historical Argentina India Trade Records
Argentina-India Top Trading Products in Q1 2023
Argentina Export Profile: What Does Argentina Sell to India
- Top Commodity: HS Code 15 (Animal/vegetable fats & oils) dominates with 82.91% share.
- Demand Driver: India uses these for industrial processing (likely food manufacturing or biodiesel).
- Concentration: Extreme reliance on one category (82.91%), indicating high export vulnerability.
Argentina Import Profile: What Does Argentina Buy from India
- Top Commodity: HS Code 29 (Organic chemicals) leads at 24.54% of imports.
- Dependency Nature: Critical technology dependency (pharmaceuticals or agrochemical inputs).
Argentina - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity – Argentina supplies raw materials (fats/oils), India provides high-value chemicals.
- Value Chain Position: India holds higher value-add position (organic chemicals, machinery) vs. Argentina’s commodity-heavy exports.
Import Analysis by Product: India to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 29 | 81.81M | 24.54% |
| 27 | 76.22M | 22.86% |
| 84 | 33.04M | 9.91% |
| 39 | 21.82M | 6.54% |
| 87 | 21.62M | 6.48% |
| 85 | 11.07M | 3.32% |
| 40 | 10.61M | 3.18% |
| 72 | 8.45M | 2.53% |
| 30 | 8.11M | 2.43% |
| 55 | 7.94M | 2.38% |
Export Analysis by Product: Argentina to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 15 | 491.63M | 82.91% |
| 99 | 84.56M | 14.26% |
| 27 | 7.30M | 1.23% |
| 41 | 6.22M | 1.05% |
| 29 | 2.63M | 0.44% |
| 38 | 624.78K | 0.11% |
| 84 | 44.45K | 0.01% |
Check Detailed Argentina-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with India is likely to persist in Q2 2023, but both exports and imports face continued contraction risks. The steep YoY declines in key commodities—animal/vegetable fats for Argentina and organic chemicals for India—signal weakening demand or competitive pressures. Without structural shifts, volatility will dominate the Argentina-India trade forecast, particularly if global commodity prices remain unstable. Traders should brace for a period of consolidation rather than growth.
Strategic Moves
- Diversify Export Markets: Argentina’s overreliance on HS Code 15 (82.91% of exports) leaves it vulnerable to demand shocks. Exporters must aggressively target new buyers in Southeast Asia or Africa to mitigate dependence on India.
- Lock in Long-Term Contracts: Indian importers of Argentine fats/oils should secure fixed-price agreements now to hedge against supply chain disruptions and price swings.
- Boost High-Value Imports: Argentina’s tech dependency on Indian organic chemicals (24.54% of imports) demands strategic stockpiling or local production partnerships to reduce vulnerability.
Frequently Asked Questions
How did Argentina - India trade perform in 2023 Q1?
Argentina's exports to India totaled $593.00M, while imports were $333.42M, both showing consistent YoY declines.
What are the top exports from Argentina to India?
Animal/vegetable fats & oils (HS Code 15) dominate, accounting for 82.91% of Argentina's exports to India.
What does Argentina import from India?
Organic chemicals (HS Code 29) lead Argentina's imports from India, making up 24.54% of the total.
What is the trade balance between Argentina and India?
Argentina holds a $259.58M trade surplus with India, though both exports and imports are contracting YoY.
Argentina - India Trade 2023 Whole Year: Volatile Exchange
Argentina's 2023 trade with India saw a $1.02B surplus but plummeting exports. Key Argentina-India trade trends: fats/oils dominate exports, pharmaceuticals lead imports. Data via yTrade.
Argentina - India Trade 2023 Q2: Surplus Amid Declines
Argentina's trade surplus with India hit $525.86M in Q2 2023 despite export drops. Explore Argentina India trade trends & top trading products via yTrade data.
