Argentina - India Trade 2024 Whole Year: Explosive Growth & Surplus
Key Market Takeaways: Argentina - India Trade
- The bilateral trade relationship between Argentina and India is marked by explosive growth and volatility in 2024, with Argentina maintaining a dominant surplus.
- Economic Pulse: Argentina holds a $2.63B trade surplus ($3.93B exports vs. $1.30B imports), driven by soaring commodity shipments despite erratic monthly swings.
- Exchange Structure: Argentina - India trade statistics reveal a resource-for-tech model—Argentina supplies 82% fats/oils (HS15) while India exports critical organic chemicals (HS29).
- Strategic Interdependence: Highly complementary but imbalanced: Argentina relies on bulk exports, while India captures higher value-add in advanced manufacturing.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-India Trade Trend in Whole Year 2024
Argentina Export Performance: Shipments to India
- Total Volume: $3.93B in 2024.
- Growth Trend & Context:
- Explosive YoY growth in H2 (e.g., Sep: +329.94%, Oct: +452.89%, Dec: +188.41%), offsetting early-year declines (Jan: -17.77%, May: -22.38%).
- No specific news to explain volatility, but the surge suggests strategic shifts or commodity-driven demand.
- Key Volatility: Feb (+77.56% MoM) and Oct (+42.19% MoM) saw sharp spikes, while Jul (-9.67% MoM) and Nov (-6.09% MoM) dipped.
Argentina Import Performance: Sourcing from India
- Total Volume: $1.30B in 2024.
- Growth Trend & Context:
- Mixed YoY performance: Strong recovery in Jun (+6.33%) and Jul (+22.93%), but steep declines in Apr (-33.38%) and May (-41.37%).
- No news to contextualize fluctuations.
- Key Volatility: Apr (+50.96% MoM) and Jun (+25.71% MoM) were peaks, while Feb (-31.51% MoM) and Oct (-21.92% MoM) saw severe contractions.
Argentina - India Trade Balance & Market Dynamics
- Net Position: $2.63B surplus for Argentina (Exports $3.93B > Imports $1.30B).
- Relationship Status: Argentina dominates as a net exporter, likely driven by commodity or agricultural shipments. India’s import demand remains volatile but secondary in scale.
Argentina Import Trend from India 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 113.63M | 8.17% | 5.04% |
| Feb | 77.82M | -31.51% | -40.61% |
| Mar | 75.59M | -2.87% | -19.77% |
| Apr | 114.11M | 50.96% | -33.38% |
| May | 98.44M | -13.73% | -41.37% |
| Jun | 123.75M | 25.71% | 6.33% |
| Jul | 133.26M | 7.68% | 22.93% |
| Aug | 128.32M | -3.71% | 7.03% |
| Sep | 120.72M | -5.93% | 3.8% |
| Oct | 94.25M | -21.92% | -7.76% |
| Nov | 116.48M | 23.59% | 27.21% |
| Dec | 100.00M | -14.15% | -4.8% |
| Total | 1.30B | - | - |
Argentina Export Trend to India 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 149.47M | -11.93% | -17.77% |
| Feb | 265.39M | 77.56% | 16.35% |
| Mar | 283.59M | 6.86% | 54.84% |
| Apr | 256.99M | -9.38% | -11.78% |
| May | 287.50M | 11.87% | -22.38% |
| Jun | 333.84M | 16.12% | 4.4% |
| Jul | 301.57M | -9.67% | 44.33% |
| Aug | 343.15M | 13.79% | 116.28% |
| Sep | 325.41M | -5.17% | 329.94% |
| Oct | 462.70M | 42.19% | 452.89% |
| Nov | 434.52M | -6.09% | 142.14% |
| Dec | 489.47M | 12.65% | 188.41% |
| Total | 3.93B | - | - |
Get Historical Argentina India Trade Records
Argentina-India Top Trading Products in Whole Year 2024
Argentina Export Profile: What Does Argentina Sell to India
- Top Commodity: HS Code 15 (Animal/vegetable fats and oils) dominates with 82.21% share.
- Demand Driver: India uses these for industrial processing, likely in food manufacturing or biofuels.
- Concentration: Extreme reliance on one category (82.21%), indicating high export vulnerability.
Argentina Import Profile: What Does Argentina Buy from India
- Top Commodity: HS Code 29 (Organic chemicals) leads at 27.12% of imports.
- Dependency Nature: Critical technology dependency, as these chemicals are essential for pharmaceuticals and agrochemicals.
Argentina - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina supplies raw materials (fats/oils) while India provides high-value chemicals and machinery.
- Value Chain Position: India holds the higher value-add position, exporting advanced products (chemicals, machinery) versus Argentina’s bulk commodity exports.
Import Analysis by Product: India to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 29 | 351.52M | 27.12% |
| 84 | 261.39M | 20.16% |
| 87 | 127.42M | 9.83% |
| 27 | 97.11M | 7.49% |
| 85 | 58.09M | 4.48% |
| 72 | 48.97M | 3.78% |
| 39 | 45.18M | 3.48% |
| 30 | 42.33M | 3.27% |
| 38 | 39.76M | 3.07% |
| 90 | 32.00M | 2.47% |
Export Analysis by Product: Argentina to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 15 | 3.23B | 82.21% |
| 99 | 651.81M | 16.57% |
| 41 | 29.93M | 0.76% |
| 38 | 7.12M | 0.18% |
| 44 | 6.25M | 0.16% |
| 29 | 2.94M | 0.07% |
| 07 | 636.82K | 0.02% |
| 84 | 610.04K | 0.02% |
| 08 | 134.96K | 0.00% |
| 51 | 94.25K | 0.00% |
Check Detailed Argentina-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with India is expected to widen in 2025, driven by sustained demand for its animal/vegetable fats and oils (HS Code 15), which dominate exports. However, extreme reliance on this single commodity exposes Argentina to price volatility and supply chain disruptions. India’s imports of Argentine goods may stabilize if domestic biofuel or food processing demand holds, but traders should prepare for potential swings in organic chemical (HS Code 29) imports from India, given their critical role in Argentina’s agrochemical and pharmaceutical sectors. The Argentina-India trade forecast hinges on balancing commodity exports with strategic tech imports to maintain complementarity.
Strategic Moves
- Diversify Export Basket: Argentina must reduce dependency on HS Code 15 by expanding into secondary commodities like cereals or meat products to mitigate risk.
- Lock in Long-Term Contracts: Indian importers of Argentine fats/oils should secure fixed-price agreements to hedge against future price spikes or supply shortages.
- Boost High-Value Imports: Argentina should prioritize sourcing advanced machinery or pharmaceuticals from India to upgrade domestic production capabilities and reduce reliance on bulk commodity trade.
Frequently Asked Questions
How did Argentina - India trade perform in 2024 Whole Year?
Argentina exported $3.93B to India, with explosive YoY growth in H2 offsetting early-year declines. Imports from India totaled $1.30B, showing mixed performance but remaining secondary in scale.
What are the top exports from Argentina to India?
Animal/vegetable fats and oils (HS Code 15) dominated Argentina’s exports to India, accounting for 82.21% of total shipments.
What does Argentina import from India?
Organic chemicals (HS Code 29) were the top import, making up 27.12% of Argentina’s purchases from India, reflecting a tech-driven dependency.
What is the trade balance between Argentina and India?
Argentina recorded a $2.63B trade surplus with India, driven by strong commodity exports and volatile but smaller import demand.
Argentina - India Trade 2023 Q4: Declining Exports, Tech Imbalance
Argentina's trade surplus with India in Q4 2023 masks sharp export drops (-48.35%). Key Argentina India trade trends show bulk fats/oils vs. high-value chemicals. Data via yTrade.
Argentina - India Trade 2024 Q1: Surplus & Resource-Tech Gap
Argentina's $431.41M trade surplus with India highlights a resource-for-tech exchange, with fats/oils dominating exports. Explore Argentina-India trade trends & top products via yTrade data.
