Argentina - India Trade 2024 Q2: Resource-for-Tech Surge
Key Market Takeaways: Argentina - India Trade
The bilateral trade relationship between Argentina and India rebounded in Q2 2024 after early-year volatility.
- Economic Pulse: Argentina posted a $542M trade surplus with India, exporting $878M (up 4.4% YoY in June) while importing $336M (mixed YoY growth).
- Exchange Structure: Argentina - India trade statistics reveal a resource-for-tech model—Argentina supplies 95% fats/oils (HS15) to India, which exports critical organic chemicals (HS29).
- Strategic Interdependence: Highly complementary but lopsided: Argentina’s bulk commodity reliance contrasts with India’s value-add dominance in chemicals and machinery.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-India Trade Trend in Q2 2024
Argentina Export Performance: Shipments to India
- Total Volume: $878.33M in Q2 2024.
- Growth Trend & Context:
- YoY growth turned positive in June (+4.4%), recovering from double-digit declines in April (-11.78%) and May (-22.38%).
- No specific trade news to explain the rebound.
- Key Volatility: June saw the highest MoM surge (+16.12%), signaling a strong end to the quarter.
Argentina Import Performance: Sourcing from India
- Total Volume: $336.30M in Q2 2024.
- Growth Trend & Context:
- YoY was mixed: sharp drops in April (-33.38%) and May (-41.37%) reversed to growth in June (+6.33%).
- Key Volatility: April recorded the highest MoM jump (+50.96%), but imports contracted in May (-13.73%).
Argentina - India Trade Balance & Market Dynamics
- Net Position: Argentina holds a trade surplus of $542.03M (Exports $878.33M vs. Imports $336.30M).
- Relationship Status: Argentina remains a dominant net exporter to India, with exports 2.6x higher than imports.
Argentina Import Trend from India 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 114.11M | 50.96% | -33.38% |
| May | 98.44M | -13.73% | -41.37% |
| Jun | 123.75M | 25.71% | 6.33% |
| Total | 336.30M | - | - |
Argentina Export Trend to India 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 256.99M | -9.38% | -11.78% |
| May | 287.50M | 11.87% | -22.38% |
| Jun | 333.84M | 16.12% | 4.4% |
| Total | 878.33M | - | - |
Get Historical Argentina India Trade Records
Argentina-India Top Trading Products in Q2 2024
Argentina Export Profile: What Does Argentina Sell to India
- Top Commodity: Rank #1 export is HS Code 15 (Animal/vegetable fats and oils), accounting for 94.58% of exports to India.
- Demand Driver: India uses these for industrial processing, likely in food manufacturing or biodiesel production.
- Concentration: Trade is heavily dominated by HS Code 15, indicating extreme reliance on a single commodity.
Argentina Import Profile: What Does Argentina Buy from India
- Top Commodity: Rank #1 import is HS Code 29 (Organic chemicals), making up 26.89% of imports from India.
- Dependency Nature: Critical technology dependency, as organic 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 | 90.45M | 26.89% |
| 84 | 62.28M | 18.52% |
| 27 | 48.95M | 14.56% |
| 87 | 26.73M | 7.95% |
| 85 | 15.59M | 4.63% |
| 72 | 12.64M | 3.76% |
| 30 | 12.02M | 3.57% |
| 39 | 11.72M | 3.49% |
| 90 | 6.81M | 2.03% |
| 38 | 6.61M | 1.97% |
Export Analysis by Product: Argentina to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 15 | 830.74M | 94.58% |
| 99 | 35.78M | 4.07% |
| 41 | 9.24M | 1.05% |
| 38 | 1.41M | 0.16% |
| 29 | 625.93K | 0.07% |
| 84 | 412.74K | 0.05% |
| 85 | 83.72K | 0.01% |
| 07 | 42.35K | 0.00% |
Check Detailed Argentina-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade with India is expected to stabilize and grow moderately in Q3 2024, driven by sustained demand for Argentine fats and oils (HS Code 15) and a rebound in Indian organic chemical exports (HS Code 29). The June recovery in both exports (+4.4% YoY) and imports (+6.33% YoY) signals resilience, but volatility remains a risk due to Argentina’s heavy reliance on a single export commodity. The trade surplus will likely persist, but diversification is critical to mitigate exposure to price swings in bulk commodities.
Strategic Moves
- Lock in Long-Term Supply Contracts: Argentine exporters of fats/oils should secure multi-year agreements with Indian buyers to stabilize revenue streams amid fluctuating global commodity prices.
- Diversify Export Basket: Argentina must reduce dependence on HS Code 15 by incentivizing secondary exports like minerals or processed foods to India, leveraging India’s growing middle-class demand.
- Boost High-Value Imports: Indian chemical and machinery exporters should target Argentine agro-industrial sectors, offering financing or joint ventures to deepen trade beyond bulk commodities.
Frequently Asked Questions
How did Argentina - India trade perform in 2024 Q2?
Argentina's exports to India totaled $878.33M, with a YoY rebound in June (+4.4%), while imports from India reached $336.30M, showing mixed YoY growth.
What are the top exports from Argentina to India?
Animal/vegetable fats and oils (HS Code 15) dominate Argentina's exports to India, accounting for 94.58% of total shipments.
What does Argentina import from India?
Organic chemicals (HS Code 29) are Argentina's top import from India, making up 26.89% of total imports.
What is the trade balance between Argentina and India?
Argentina holds a trade surplus of $542.03M with India, as exports are 2.6x higher than imports.
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.
Argentina - India Trade 2024 Q3: Surplus & Growth
Argentina's trade surplus with India hit $587.82M in Q3 2024, fueled by triple-digit export growth. Explore Argentina India trade trends and top trading products via yTrade data.
