Argentina - Italy Trade 2023 Whole Year: Volatile Deficit Dynamics
Key Market Takeaways: Argentina - Italy Trade
The bilateral trade relationship between Argentina and Italy remains volatile and unbalanced in 2023, with Argentina running a significant trade deficit.
- Economic Pulse: Argentina posted a $1.01B trade deficit with Italy ($1.81B imports vs. $803M exports), reflecting heavy reliance on Italian goods amid erratic export swings.
- Exchange Structure: Argentina - Italy trade statistics reveal a resource-for-tech dynamic—Argentina supplies agricultural goods (HS 23, 03) while importing Italian machinery (HS 84, 85), which dominates 37.4% of bilateral trade.
- Strategic Interdependence: Classic core-periphery asymmetry: Italy holds the high-value manufacturing edge, while Argentina’s export basket remains concentrated and commodity-driven.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Italy Trade Trend in Whole Year 2023
Argentina Export Performance: Shipments to Italy
- Total Volume: $803.09M in 2023.
- Growth Trend & Context:
- Volatile YoY swings, ranging from -64.22% (Dec) to +46.75% (Aug). No clear directional trend.
- Key Volatility: October saw a 48.1% MoM surge, while December collapsed by -62.88% MoM.
Argentina Import Performance: Sourcing from Italy
- Total Volume: $1.81B in 2023.
- Growth Trend & Context:
- Mixed YoY performance: May spiked +80.33% YoY, but August dropped -20.51% YoY.
- Key Volatility: May recorded the highest monthly value ($216.99M) and the sharpest MoM jump (+34.89%).
Argentina - Italy Trade Balance & Market Dynamics
- Net Position: Trade Deficit of $1.01B (Imports $1.81B > Exports $803.09M).
- Relationship Status: Argentina remains heavily dependent on Italian imports, with no significant rebalancing in 2023.
Argentina Import Trend from Italy 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 143.99M | 5.03% | 2.09% |
| Feb | 121.01M | -15.96% | 7.48% |
| Mar | 147.95M | 22.27% | 11.34% |
| Apr | 160.86M | 8.72% | 16.93% |
| May | 216.99M | 34.89% | 80.33% |
| Jun | 153.19M | -29.4% | 7.57% |
| Jul | 154.17M | 0.64% | 1.97% |
| Aug | 146.69M | -4.85% | -20.51% |
| Sep | 136.16M | -7.18% | -0.52% |
| Oct | 146.47M | 7.57% | 32.57% |
| Nov | 158.48M | 8.2% | -7.28% |
| Dec | 125.29M | -20.94% | -8.61% |
| Total | 1.81B | - | - |
Argentina Export Trend to Italy 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 78.21M | 10.97% | 8.29% |
| Feb | 47.85M | -38.82% | -39.08% |
| Mar | 45.93M | -4.02% | -0.33% |
| Apr | 60.54M | 31.81% | -51.56% |
| May | 69.25M | 14.39% | 14.86% |
| Jun | 87.15M | 25.85% | 1.07% |
| Jul | 67.89M | -22.09% | -36.65% |
| Aug | 78.19M | 15.17% | 46.75% |
| Sep | 70.51M | -9.83% | -34.08% |
| Oct | 104.43M | 48.1% | -48.76% |
| Nov | 67.93M | -34.95% | 23.53% |
| Dec | 25.22M | -62.88% | -64.22% |
| Total | 803.09M | - | - |
Get Historical Argentina Italy Trade Records
Argentina-Italy Top Trading Products in Whole Year 2023
Argentina Export Profile: What Does Argentina Sell to Italy
- Top Commodity: Rank #1 export is HS Code 99 (48.06% share), likely representing unclassified or special category goods. This suggests a niche or aggregated export segment.
- Demand Driver: HS Code 23 (18.52%) and 03 (14.24%) indicate Italy sources agricultural or food products (e.g., residues/starches, fish) from Argentina, serving its food processing or consumer markets.
- Concentration: The top 3 exports account for 80.82% of total exports to Italy, showing extreme reliance on a few categories.
Argentina Import Profile: What Does Argentina Buy from Italy
- Top Commodity: Rank #1 import is HS Code 84 (37.42% share), covering machinery and mechanical appliances—critical for Argentina’s industrial base.
- Dependency Nature: High-tech imports (HS 84, 85, 90) dominate, revealing Argentina’s reliance on Italian machinery, electronics, and precision instruments for manufacturing and infrastructure.
Argentina - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw/agricultural goods (HS 23, 03) in exchange for Italian machinery and high-tech equipment (HS 84, 85). Classic core-periphery trade dynamic.
- Value Chain Position: Italy holds the higher value-add position, supplying advanced manufactured goods, while Argentina provides commodities. The 37.42% share of machinery imports underscores this asymmetry.
Import Analysis by Product: Italy to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 677.82M | 37.42% |
| 27 | 230.54M | 12.73% |
| 30 | 142.97M | 7.89% |
| 85 | 101.17M | 5.59% |
| 39 | 74.49M | 4.11% |
| 73 | 69.54M | 3.84% |
| 87 | 64.99M | 3.59% |
| 90 | 62.43M | 3.45% |
| 29 | 61.12M | 3.37% |
| 38 | 41.07M | 2.27% |
Export Analysis by Product: Argentina to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 385.99M | 48.06% |
| 23 | 148.73M | 18.52% |
| 03 | 114.39M | 14.24% |
| 02 | 40.67M | 5.06% |
| 07 | 33.15M | 4.13% |
| 12 | 30.80M | 3.84% |
| 08 | 20.66M | 2.57% |
| 51 | 6.01M | 0.75% |
| 41 | 4.36M | 0.54% |
| 20 | 3.52M | 0.44% |
Check Detailed Argentina-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Italy trade relationship is likely to remain volatile in 2024, with Argentina’s deficit persisting due to its heavy reliance on Italian machinery and high-tech imports. While agricultural exports (HS 23, 03) may see steady demand, the extreme concentration in unclassified goods (HS 99) introduces unpredictability. Traders should prepare for erratic swings, particularly in Q4, where past data shows sharp declines. Without structural shifts, Italy will retain its value-chain dominance, reinforcing the core-periphery dynamic.
Strategic Moves
- Diversify Export Categories: Argentine exporters must reduce reliance on HS 99 by expanding into higher-value processed foods (HS 16, 20) to capture more stable demand.
- Lock in Machinery Supply Contracts: Importers should secure long-term agreements with Italian manufacturers (HS 84, 85) to hedge against price volatility and supply chain disruptions.
- Push for Trade Rebalancing: Argentine policymakers must incentivize domestic tech production or alternative sourcing (e.g., EU partners) to narrow the $1.01B deficit.
Frequently Asked Questions
How did Argentina - Italy trade perform in 2023 Whole Year?
Argentina exported $803.09M to Italy and imported $1.81B, resulting in a trade deficit of $1.01B. The trade showed volatile growth trends with no clear directional pattern.
What are the top exports from Argentina to Italy?
Argentina’s top exports to Italy include unclassified/special category goods (HS Code 99, 48.06%), agricultural residues/starches (HS Code 23, 18.52%), and fish products (HS Code 03, 14.24%).
What does Argentina import from Italy?
Argentina primarily imports machinery and mechanical appliances (HS Code 84, 37.42%) from Italy, along with other high-tech goods like electronics and precision instruments.
What is the trade balance between Argentina and Italy?
Argentina recorded a trade deficit of $1.01B with Italy in 2023, reflecting heavy reliance on Italian imports, particularly machinery and high-tech equipment.
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