Argentina - India Trade 2024 Q4: $1.08B Surge
Key Market Takeaways: Argentina - India Trade
The bilateral trade relationship between Argentina and India surged in Q4 2024, driven by explosive Argentine export growth.
- Argentina holds a $1.08B trade surplus with India, fueled by a 3.5x export advantage ($1.39B vs. $310.73M imports). YoY export growth exceeded +140% across all months, signaling structural demand shifts.
- Resource-for-Tech exchange: Argentina supplies 82% of its exports as agricultural fats/oils (HS 15) to India, while importing high-value organic chemicals (HS 29) and machinery—a classic raw materials-for-manufactured goods dynamic.
- Asymmetric interdependence: India captures higher value-add, but Argentina’s export boom deepens complementarity in agro-industrial supply chains.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-India Trade Trend in Q4 2024
Argentina Export Performance: Shipments to India
- Total Volume: $1.39B in Q4 2024.
- Growth Trend & Context:
- Explosive YoY growth across all months (Dec: +188.41%, Nov: +142.14%, Oct: +452.89%), indicating a structural surge in demand or base effect from low 2023 volumes.
- No specific trade news to explain the spike.
- Key Volatility: October saw a 42.19% MoM surge, followed by a -6.09% correction in November.
Argentina Import Performance: Sourcing from India
- Total Volume: $310.73M in Q4 2024.
- Growth Trend & Context:
- Mixed YoY performance (Oct: -7.76%, Nov: +27.21%, Dec: -4.8%), suggesting unstable demand or inventory adjustments.
- Key Volatility: November posted a 23.59% MoM jump, but December dropped -14.15%.
Argentina - India Trade Balance & Market Dynamics
- Net Position: Argentina holds a $1.08B trade surplus with India (Exports: $1.39B > Imports: $310.73M).
- Relationship Status: Dominant net exporter role, with exports exceeding imports by 3.5x. The YoY export boom signals deepening trade asymmetry.
Argentina Import Trend from India 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 94.25M | -21.92% | -7.76% |
| Nov | 116.48M | 23.59% | 27.21% |
| Dec | 100.00M | -14.15% | -4.8% |
| Total | 310.73M | - | - |
Argentina Export Trend to India 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 462.70M | 42.19% | 452.89% |
| Nov | 434.52M | -6.09% | 142.14% |
| Dec | 489.47M | 12.65% | 188.41% |
| Total | 1.39B | - | - |
Get Historical Argentina India Trade Records
Argentina-India Top Trading Products in Q4 2024
Argentina Export Profile: What Does Argentina Sell to India
- Top Commodity: HS Code 15 (Animal/vegetable fats and oils) dominates with 82.31% share.
- Demand Driver: India uses these for industrial processing (e.g., food manufacturing, biofuels).
- Concentration: Extreme reliance on one category (82.31%), indicating a narrow export base.
Argentina Import Profile: What Does Argentina Buy from India
- Top Commodity: HS Code 29 (Organic chemicals) leads at 20.67% of imports.
- Dependency Nature: Critical technology dependency (pharmaceuticals, agrochemicals). Secondary reliance on machinery (HS 84, 85) for industrial inputs.
Argentina - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina supplies bulk agricultural commodities (HS 15) while India provides high-value chemicals and machinery.
- Value Chain Position: India holds higher value-add dominance (complex exports like chemicals/machinery vs. Argentina’s raw material-heavy exports). Trade imbalance skews toward Indian value capture.
Import Analysis by Product: India to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 29 | 64.22M | 20.67% |
| 84 | 63.08M | 20.30% |
| 87 | 40.93M | 13.17% |
| 85 | 14.40M | 4.63% |
| 38 | 13.35M | 4.30% |
| 39 | 12.11M | 3.90% |
| 27 | 11.31M | 3.64% |
| 90 | 11.10M | 3.57% |
| 30 | 10.12M | 3.26% |
| 72 | 10.11M | 3.25% |
Export Analysis by Product: Argentina to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 15 | 1.14B | 82.31% |
| 99 | 233.93M | 16.87% |
| 41 | 6.94M | 0.50% |
| 38 | 2.30M | 0.17% |
| 29 | 1.93M | 0.14% |
| 51 | 94.25K | 0.01% |
| 84 | 79.40K | 0.01% |
Check Detailed Argentina-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with India is set to widen further in 2025, driven by sustained demand for its agricultural exports (HS 15) and India’s growing industrial reliance on raw materials. The explosive YoY growth in Q4 2024 suggests this is not a temporary spike but a structural shift, positioning Argentina as a critical supplier. However, volatility in monthly export figures calls for caution—traders should anticipate price fluctuations and potential supply chain adjustments. Meanwhile, India’s mixed import performance signals a need for Argentina to diversify its sourcing strategy to mitigate dependency risks in high-value sectors like pharmaceuticals and machinery.
Strategic Moves
- Lock in Long-Term Contracts: Argentine exporters of animal/vegetable fats (HS 15) should secure multi-year agreements with Indian buyers to stabilize revenue streams amid volatile global commodity markets.
- Diversify Import Sources: Argentine importers must reduce overreliance on Indian organic chemicals (HS 29) by exploring alternative suppliers in Southeast Asia or Europe to avoid supply disruptions.
- Invest in Value-Add Processing: Argentina should pivot from raw material exports to semi-processed goods (e.g., refined oils) to capture higher margins and reduce trade asymmetry with India.
Frequently Asked Questions
How did Argentina - India trade perform in 2024 Q4?
Argentina's exports to India surged to $1.39B with explosive YoY growth, while imports from India totaled $310.73M, showing mixed performance.
What are the top exports from Argentina to India?
Animal/vegetable fats and oils (HS Code 15) dominate, accounting for 82.31% of Argentina's exports to India.
What does Argentina import from India?
Top imports include organic chemicals (HS Code 29) at 20.67%, along with machinery (HS 84, 85) for industrial use.
What is the trade balance between Argentina and India?
Argentina holds a $1.08B trade surplus with India, with exports exceeding imports by 3.5x, signaling deepening trade asymmetry.
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.
Argentina - India Trade 2025 Q1: Surplus & Volatility
Argentina's $651.37M trade surplus with India in Q1 2025 highlights volatile trends, with bulk fats/oils dominating exports. Explore Argentina-India trade trends on yTrade.
