Argentina - India Trade 2024 Q3: Surplus & Growth
Key Market Takeaways: Argentina - India Trade
The bilateral trade relationship between Argentina and India surged in Q3 2024, driven by Argentina's explosive export growth.
- Economic Pulse: Argentina posted a $587.82M trade surplus ($970.12M exports vs. $382.30M imports), with exports to India growing triple-digit YoY in key months.
- Exchange Structure: Argentina - India trade statistics reveal a resource-for-tech dynamic—Argentina supplies 75% fats/oils (HS15), while India exports organic chemicals (HS29) for industrial use.
- Strategic Interdependence: Highly complementary but imbalanced; Argentina’s commodity-heavy exports face concentration risk, while India retains higher value-add.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-India Trade Trend in Q3 2024
Argentina Export Performance: Shipments to India
- Total Volume: $970.12M in Q3 2024.
- Growth Trend & Context:
- YoY growth surged (+44.33% in July, +116.28% in August, +329.94% in September), indicating explosive demand.
- No specific news to explain the spike, but the triple-digit YoY gains suggest structural shifts (e.g., new commodity contracts or supply chain pivots).
- Key Volatility: August saw a 13.79% MoM jump, while September corrected (-5.17%).
Argentina Import Performance: Sourcing from India
- Total Volume: $382.30M in Q3 2024.
- Growth Trend & Context:
- YoY growth slowed sharply (+22.93% in July, +7.03% in August, +3.8% in September), signaling cooling demand.
- Key Volatility: July peaked at $133.26M before consecutive MoM drops (-3.71% in August, -5.93% in September).
Argentina - India Trade Balance & Market Dynamics
- Net Position: Argentina holds a trade surplus of $587.82M (Exports $970.12M vs. Imports $382.30M).
- Relationship Status: Dominant net exporter, with exports 2.5x imports. The widening surplus reflects Argentina’s strengthening export capacity or India’s reduced import appetite.
Argentina Import Trend from India 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 133.26M | 7.68% | 22.93% |
| Aug | 128.32M | -3.71% | 7.03% |
| Sep | 120.72M | -5.93% | 3.8% |
| Total | 382.30M | - | - |
Argentina Export Trend to India 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 301.57M | -9.67% | 44.33% |
| Aug | 343.15M | 13.79% | 116.28% |
| Sep | 325.41M | -5.17% | 329.94% |
| Total | 970.12M | - | - |
Get Historical Argentina India Trade Records
Argentina-India Top Trading Products in Q3 2024
Argentina Export Profile: What Does Argentina Sell to India
- Top Commodity: HS Code 15 (Animal/vegetable fats & oils) dominates with 75.35% share.
- Demand Driver: India likely uses these for industrial processing (e.g., food manufacturing, biofuels).
- Concentration: Extreme reliance on one category (75%+), indicating high export vulnerability.
Argentina Import Profile: What Does Argentina Buy from India
- Top Commodity: HS Code 29 (Organic chemicals) leads at 31.36% share.
- Dependency Nature: Critical for pharmaceuticals or agrochemicals, suggesting industrial input reliance.
Argentina - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Argentina supplies raw materials (fats/oils), India provides industrial chemicals/machinery.
- Value Chain Position: India holds higher value-add (exports include chemicals, machinery) vs. Argentina’s commodity-heavy exports.
Import Analysis by Product: India to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 29 | 119.88M | 31.36% |
| 84 | 61.50M | 16.09% |
| 87 | 38.26M | 10.01% |
| 27 | 35.88M | 9.38% |
| 85 | 15.73M | 4.11% |
| 72 | 15.53M | 4.06% |
| 38 | 14.84M | 3.88% |
| 30 | 11.05M | 2.89% |
| 39 | 8.72M | 2.28% |
| 90 | 8.61M | 2.25% |
Export Analysis by Product: Argentina to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 15 | 730.98M | 75.35% |
| 99 | 224.24M | 23.11% |
| 41 | 6.36M | 0.66% |
| 44 | 6.25M | 0.64% |
| 38 | 1.80M | 0.19% |
| 29 | 383.13K | 0.04% |
| 84 | 102.78K | 0.01% |
| 40 | 8.13K | 0.00% |
| 73 | 3.79K | 0.00% |
Check Detailed Argentina-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with India is poised to widen further in Q4 2024, driven by sustained demand for its animal/vegetable fats and oils (HS Code 15). The explosive YoY growth in exports suggests a structural shift, likely tied to long-term supply agreements or India’s growing industrial needs. However, the cooling import growth from India signals potential headwinds for bilateral trade balance stability. Traders should prepare for continued volatility in commodity-driven exchanges, with Argentina solidifying its role as a key raw material supplier.
Strategic Moves
- Diversify Export Basket: Argentina must reduce reliance on HS Code 15 by promoting secondary export categories (e.g., cereals, meat) to mitigate vulnerability to price shocks or demand shifts.
- Lock in Long-Term Contracts: Indian importers of organic chemicals (HS Code 29) should secure multi-year agreements with Argentine buyers to stabilize supply chains amid slowing demand growth.
- Monitor Currency Fluctuations: Both sides must hedge against peso-rupee volatility, especially given Argentina’s export-heavy position and India’s tightening import appetite.
Frequently Asked Questions
How did Argentina - India trade perform in 2024 Q3?
Argentina's exports to India surged (+44.33% YoY in July, +329.94% in September), totaling $970.12M, while imports grew modestly (+22.93% in July, +3.8% in September), reaching $382.30M.
What are the top exports from Argentina to India?
Animal/vegetable fats & oils (HS Code 15) dominate Argentina’s exports to India, accounting for 75.35% of total shipments.
What does Argentina import from India?
Organic chemicals (HS Code 29) lead Argentina’s imports from India, representing 31.36% of the total trade volume.
What is the trade balance between Argentina and India?
Argentina holds a trade surplus of $587.82M with India (exports 2.5x imports), reflecting strengthening export capacity or reduced Indian demand.
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.
Argentina - India Trade 2024 Q4: $1.08B Surge
Argentina's trade surplus with India hit $1.08B in Q4 2024, fueled by agricultural exports. Explore Argentina-India trade trends & top products via yTrade data.
