Argentina - Italy Trade 2023 Q3: Volatile Deficit
Key Market Takeaways: Argentina - Italy Trade
The bilateral trade relationship between Argentina and Italy is marked by volatility and a persistent trade deficit in Q3 2023.
- Economic Pulse: Argentina’s trade deficit with Italy hit $220.42M, with imports ($437.01M) dwarfing exports ($216.59M). Volatile YoY swings—like August’s 46.75% export surge amid broader declines—highlight unstable demand.
- Exchange Structure: Argentina - Italy trade statistics reveal a resource-for-tech imbalance: Argentina’s exports are dominated by unclassified goods (HS 99, 58.28% share), while Italy supplies critical machinery (HS 84, 40.57% share).
- Strategic Interdependence: Italy holds the high-value position, supplying advanced industrial equipment, while Argentina’s export concentration signals limited diversification.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Italy Trade Trend in Q3 2023
Argentina Export Performance: Shipments to Italy
- Total Volume: $216.59M in Q3 2023.
- Growth Trend & Context:
- YoY declines dominated (-36.65% in July, -34.08% in September), except for August’s 46.75% surge. No news to contextualize the volatility.
- Key Volatility: August spiked 15.17% MoM, while July and September saw sharp drops (-22.09% and -9.83% MoM, respectively).
Argentina Import Performance: Sourcing from Italy
- Total Volume: $437.01M in Q3 2023.
- Growth Trend & Context:
- Mixed YoY: July (+1.97%) and September (-0.52%) were stable, but August plummeted -20.51%. No news to explain fluctuations.
- Key Volatility: September hit the lowest monthly value ($136.16M), with a -7.18% MoM drop.
Argentina - Italy Trade Balance & Market Dynamics
- Net Position: Trade deficit of $220.42M (Imports exceeded exports).
- Relationship Status: Argentina remains heavily dependent on Italian imports, with exports failing to offset the gap.
Argentina Import Trend from Italy 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 154.17M | 0.64% | 1.97% |
| Aug | 146.69M | -4.85% | -20.51% |
| Sep | 136.16M | -7.18% | -0.52% |
| Total | 437.01M | - | - |
Argentina Export Trend to Italy 2023 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 67.89M | -22.09% | -36.65% |
| Aug | 78.19M | 15.17% | 46.75% |
| Sep | 70.51M | -9.83% | -34.08% |
| Total | 216.59M | - | - |
Get Historical Argentina Italy Trade Records
Argentina-Italy Top Trading Products in Q3 2023
Argentina Export Profile: What Does Argentina Sell to Italy
- Top Commodity: HS Code 99 (58.28% share). Likely unclassified or special category goods, dominating exports.
- Demand Driver: Italy sources these for industrial processing or niche market needs, given the high concentration.
- Concentration: Extreme, with one category (HS 99) capturing over 50% of exports.
Argentina Import Profile: What Does Argentina Buy from Italy
- Top Commodity: HS Code 84 (40.57% share). Machinery (e.g., industrial equipment, nuclear reactors).
- Dependency Nature: Critical technology dependency, as machinery imports suggest reliance on Italian industrial expertise.
Argentina - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports unclassified/special goods (HS 99) while importing high-value machinery (HS 84).
- Value Chain Position: Italy holds the higher value-add position, supplying advanced machinery against Argentina’s less differentiated exports.
Import Analysis by Product: Italy to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 177.28M | 40.57% |
| 30 | 31.53M | 7.21% |
| 85 | 26.33M | 6.03% |
| 87 | 22.89M | 5.24% |
| 73 | 20.45M | 4.68% |
| 39 | 18.59M | 4.25% |
| 29 | 17.50M | 4.00% |
| 90 | 16.67M | 3.81% |
| 27 | 9.71M | 2.22% |
| 38 | 9.19M | 2.10% |
Export Analysis by Product: Argentina to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 126.23M | 58.28% |
| 03 | 41.39M | 19.11% |
| 07 | 12.45M | 5.75% |
| 02 | 10.89M | 5.03% |
| 12 | 9.94M | 4.59% |
| 08 | 6.19M | 2.86% |
| 15 | 2.74M | 1.26% |
| 51 | 1.47M | 0.68% |
| 20 | 1.39M | 0.64% |
| 41 | 1.25M | 0.58% |
Check Detailed Argentina-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade deficit with Italy is likely to persist in Q4 2023, driven by continued reliance on Italian machinery imports (HS 84) and volatile export performance in unclassified goods (HS 99). The August export surge appears anomalous, and without structural shifts, YoY declines may resume. Italy’s superior position in high-value machinery trade will keep Argentina in a dependent role unless export diversification accelerates. Traders should brace for further volatility, particularly in HS 99 shipments, which lack clear demand drivers.
Strategic Moves
- Diversify Export Basket: Argentina must reduce over-reliance on HS 99 by identifying and promoting secondary export commodities with stable Italian demand, such as agricultural byproducts or processed foods.
- Lock in Machinery Supply Contracts: Importers should negotiate long-term agreements with Italian suppliers to mitigate price fluctuations and ensure stable access to critical industrial equipment.
- Monitor Trade Policy Shifts: Both nations may adjust tariffs or quotas to rebalance the deficit. Traders must stay ahead of regulatory changes to avoid disruptions in Q1 2024.
Frequently Asked Questions
How did Argentina - Italy trade perform in 2023 Q3?
Argentina's exports to Italy totaled $216.59M, with mixed YoY trends, while imports reached $437.01M, resulting in a trade deficit of $220.42M.
What are the top exports from Argentina to Italy?
The top export is HS Code 99 (unclassified/special category goods), accounting for 58.28% of Argentina's shipments to Italy.
What does Argentina import from Italy?
Argentina primarily imports HS Code 84 (machinery, including industrial equipment and nuclear reactors), which makes up 40.57% of imports from Italy.
What is the trade balance between Argentina and Italy?
Argentina recorded a trade deficit of $220.42M in Q3 2023, with imports significantly exceeding exports.
Argentina - Italy Trade 2023 Q2: Growing Deficit
Argentina's trade deficit with Italy hit $314.11M in Q2 2023, driven by surging machinery imports. Explore Argentina Italy trade trends and top trading products via yTrade data.
Argentina - Italy Trade 2023 Q4: Deficit & Tech Imports
Argentina's Italy trade trend shows a $232.67M deficit in Q4 2023, with top trading products being raw materials vs. high-value tech. Verified by yTrade data.
