Argentina - India Trade 2024 Q1: Surplus & Resource-Tech Gap
Key Market Takeaways: Argentina - India Trade
The bilateral trade relationship between Argentina and India shows growth with volatility in Q1 2024, marked by Argentina’s dominant surplus.
- Economic Pulse: Argentina holds a $431.41M trade surplus with India, exporting $698.45M (up sharply in February) while imports from India fell to $267.04M (YoY declines in 2/3 months).
- Exchange Structure: Argentina - India trade statistics reveal a resource-for-tech complementarity—Argentina supplies 76% fats/oils (HS15) while India exports high-value organic chemicals (HS29, 28.82% share).
- Strategic Interdependence: Highly complementary but imbalanced; Argentina relies on bulk commodities, while India captures higher value-add in manufactured goods.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-India Trade Trend in Q1 2024
Argentina Export Performance: Shipments to India
- Total Volume: $698.45M in Q1 2024.
- Growth Trend & Context:
- Strong YoY rebound in March (+54.84%) offset a weak January (-17.77% YoY), signaling volatile but recovering demand.
- February’s 77.56% MoM surge (to $265.39M) was the quarter’s standout, likely reflecting backlog clearance or seasonal orders.
Argentina Import Performance: Sourcing from India
- Total Volume: $267.04M in Q1 2024.
- Growth Trend & Context:
- Steep YoY declines in February (-40.61%) and March (-19.77%) dragged down imports, suggesting reduced Argentine demand for Indian goods.
- January’s 5.04% YoY growth was eclipsed by a 31.51% MoM drop in February, indicating abrupt demand contraction.
Argentina - India Trade Balance & Market Dynamics
- Net Position: Argentina holds a $431.41M trade surplus with India (Exports: $698.45M vs. Imports: $267.04M).
- Relationship Status: Argentina dominates as a net exporter, with exports 2.6x imports. India’s shrinking import appetite (YoY declines in 2/3 months) may reflect economic tightening or substitution effects.
Argentina Import Trend from India 2024 Q1 (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% |
| Total | 267.04M | - | - |
Argentina Export Trend to India 2024 Q1 (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% |
| Total | 698.45M | - | - |
Get Historical Argentina India Trade Records
Argentina-India Top Trading Products in Q1 2024
Argentina Export Profile: What Does Argentina Sell to India
- Top Commodity: HS Code 15 (Animal/vegetable fats and oils) dominates with 76.00% share.
- Demand Driver: India uses these for industrial processing, likely in food manufacturing or biofuels.
- Concentration: Extreme reliance on one category (76% share), indicating high export vulnerability.
Argentina Import Profile: What Does Argentina Buy from India
- Top Commodity: HS Code 29 (Organic chemicals) leads at 28.82% share.
- 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 complex products (chemicals, machinery) versus Argentina’s bulk commodity exports.
Import Analysis by Product: India to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 29 | 76.97M | 28.82% |
| 84 | 74.52M | 27.91% |
| 87 | 21.49M | 8.05% |
| 39 | 12.62M | 4.73% |
| 85 | 12.38M | 4.64% |
| 72 | 10.70M | 4.01% |
| 30 | 9.14M | 3.42% |
| 40 | 5.86M | 2.19% |
| 90 | 5.48M | 2.05% |
| 38 | 4.95M | 1.85% |
Export Analysis by Product: Argentina to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 15 | 530.83M | 76.00% |
| 99 | 157.86M | 22.60% |
| 41 | 7.39M | 1.06% |
| 38 | 1.61M | 0.23% |
| 07 | 594.46K | 0.09% |
| 08 | 134.96K | 0.02% |
| 84 | 15.12K | 0.00% |
| 40 | 9.71K | 0.00% |
| 85 | 7.59K | 0.00% |
Check Detailed Argentina-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Q2 2024
Argentina’s trade surplus with India is likely to persist, driven by resilient demand for its animal/vegetable fats and oils (HS Code 15), which dominate exports. However, India’s declining imports of Argentine goods—particularly in organic chemicals (HS Code 29)—signal potential headwinds, possibly due to economic tightening or supply chain shifts. Traders should anticipate volatility, with export growth hinging on India’s industrial demand recovery. The resource-for-tech exchange model remains intact, but Argentina must address over-reliance on a single export category to mitigate risk.
Strategic Moves for Traders & Policymakers
- Diversify Export Basket: Argentina must reduce dependence on HS Code 15 by promoting secondary export sectors like minerals or processed foods to India, balancing exposure to demand shocks.
- Lock in Long-Term Contracts: Indian importers of Argentine fats/oils should secure fixed-price agreements to hedge against commodity price swings, while Argentine buyers of Indian chemicals should negotiate bulk discounts.
- Monitor Indian Industrial Policy: Closely track India’s domestic production incentives for organic chemicals and biofuels, as import substitution could further erode Argentina’s export margins. Adjust sourcing or marketing strategies preemptively.
Frequently Asked Questions
How did Argentina - India trade perform in 2024 Q1?
Argentina's exports to India totaled $698.45M, showing volatile but recovering demand, while imports from India fell to $267.04M, reflecting reduced Argentine demand for Indian goods.
What are the top exports from Argentina to India?
Argentina's top export to India is Animal/vegetable fats and oils (HS Code 15), accounting for 76% of total exports.
What does Argentina import from India?
Argentina primarily imports organic chemicals (HS Code 29) from India, making up 28.82% of total imports.
What is the trade balance between Argentina and India?
Argentina holds a $431.41M trade surplus with India, with exports 2.6x higher than imports, indicating strong dominance as a net exporter.
Argentina - India Trade 2024 Whole Year: Explosive Growth & Surplus
Argentina's trade surplus with India hit $2.63B in 2024, driven by fats/oils exports. Explore Argentina India trade trends and top trading products via yTrade data.
Argentina - India Trade 2024 Q2: Resource-for-Tech Surge
Argentina's $542M trade surplus with India in Q2 2024 highlights a resource-for-tech exchange, with fats/oils dominating exports. Explore Argentina-India trade trends on yTrade.
