Argentina - Italy Trade 2023 Q4: Deficit & Tech Imports
Key Market Takeaways: Argentina - Italy Trade
The bilateral trade relationship between Argentina and Italy is marked by volatility and a structural deficit in Q4 2023.
- Economic Pulse: Argentina posted a $232.67M trade deficit with Italy, with imports ($430.25M) more than double exports ($197.58M), reflecting heavy reliance on Italian goods amid erratic YoY swings.
- Exchange Structure: Argentina - Italy trade statistics reveal a resource-for-tech dynamic—Argentina supplies raw materials (animal feed, fish) while importing high-value machinery, electronics, and pharmaceuticals.
- Strategic Interdependence: The partnership is highly complementary but imbalanced, with Italy holding the value-add advantage in advanced manufacturing.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Italy Trade Trend in Q4 2023
Argentina Export Performance: Shipments to Italy
- Total Volume: $197.58M in Q4 2023.
- Growth Trend & Context: YoY volatility, with October down -48.76% but November up 23.53%. December collapsed -64.22% YoY.
- Key Volatility: December saw the sharpest MoM drop (-62.88%), while October had a 48.1% MoM surge.
Argentina Import Performance: Sourcing from Italy
- Total Volume: $430.25M in Q4 2023.
- Growth Trend & Context: Mixed YoY performance—October surged 32.57%, but November and December fell -7.28% and -8.61% YoY, respectively.
- Key Volatility: December imports plummeted -20.94% MoM, while November posted an 8.2% MoM gain.
Argentina - Italy Trade Balance & Market Dynamics
- Net Position: Trade deficit of $232.67M (Imports exceeded exports).
- Relationship Status: Argentina remains heavily dependent on Italian imports, with Q4 imports more than double export volumes.
Argentina Import Trend from Italy 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 146.47M | 7.57% | 32.57% |
| Nov | 158.48M | 8.2% | -7.28% |
| Dec | 125.29M | -20.94% | -8.61% |
| Total | 430.25M | - | - |
Argentina Export Trend to Italy 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 104.43M | 48.1% | -48.76% |
| Nov | 67.93M | -34.95% | 23.53% |
| Dec | 25.22M | -62.88% | -64.22% |
| Total | 197.58M | - | - |
Get Historical Argentina Italy Trade Records
Argentina-Italy Top Trading Products in Q4 2023
Argentina Export Profile: What Does Argentina Sell to Italy
- Top Commodity: HS Code 99 (35.12% share). Likely unclassified or special category goods, given the high share.
- Demand Driver: HS Code 23 (animal feed) and 03 (fish) suggest Italy sources raw materials for food processing.
- Concentration: Top 3 exports (HS 99, 23, 03) account for 82.96% of total exports to Italy—highly concentrated.
Argentina Import Profile: What Does Argentina Buy from Italy
- Top Commodity: HS Code 84 (machinery/mechanical appliances) dominates at 28.67% share.
- Dependency Nature: Machinery (HS 84), electrical equipment (HS 85), and pharmaceuticals (HS 30) indicate reliance on Italian industrial technology and precision manufacturing.
Argentina - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (animal feed, fish) while importing high-value machinery and pharmaceuticals.
- Value Chain Position: Italy holds the higher value-add position, supplying advanced manufactured goods, while Argentina provides primary commodities.
Import Analysis by Product: Italy to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 123.36M | 28.67% |
| 27 | 103.13M | 23.97% |
| 30 | 36.39M | 8.46% |
| 85 | 28.86M | 6.71% |
| 39 | 18.56M | 4.31% |
| 29 | 15.02M | 3.49% |
| 87 | 14.20M | 3.30% |
| 38 | 12.18M | 2.83% |
| 90 | 10.85M | 2.52% |
| 73 | 10.19M | 2.37% |
Export Analysis by Product: Argentina to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 69.38M | 35.12% |
| 23 | 58.38M | 29.55% |
| 03 | 36.13M | 18.29% |
| 07 | 11.19M | 5.67% |
| 02 | 10.88M | 5.51% |
| 12 | 6.53M | 3.31% |
| 84 | 1.59M | 0.80% |
| 10 | 760.66K | 0.38% |
| 51 | 619.17K | 0.31% |
| 44 | 483.97K | 0.24% |
Check Detailed Argentina-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Italy Trade
The Argentina-Italy trade relationship is expected to remain volatile in the near term, with Argentina’s export performance facing continued instability due to fluctuating demand for raw materials. Italy’s reliance on Argentine commodities (HS 23, 03) may sustain exports, but the sharp December 2023 decline suggests short-term headwinds. Meanwhile, Argentina’s import dependency on Italian machinery (HS 84) and pharmaceuticals (HS 30) will likely persist, reinforcing the trade deficit. Traders should prepare for uneven growth, with potential recovery in Q1 2024 if commodity prices stabilize.
Strategic Moves for Traders & Policymakers
- Diversify Export Markets: Argentine exporters must reduce reliance on Italy by targeting new EU or Asian buyers for animal feed (HS 23) and fish (HS 03) to mitigate volatility.
- Lock in Long-Term Tech Contracts: Importers of Italian machinery (HS 84) should secure fixed-price agreements to hedge against currency and supply chain risks.
- Boost Value-Added Exports: Argentina should incentivize processing of raw materials (e.g., packaged food instead of bulk feed) to capture higher margins and reduce trade imbalance.
Frequently Asked Questions
How did Argentina - Italy trade perform in 2023 Q4?
Argentina's exports to Italy totaled $197.58M, showing volatile YoY growth, while imports reached $430.25M, with mixed performance.
What are the top exports from Argentina to Italy?
Argentina's top exports to Italy include unclassified/special category goods (HS 99), animal feed (HS 23), and fish (HS 03).
What does Argentina import from Italy?
Argentina primarily imports machinery (HS 84), electrical equipment (HS 85), and pharmaceuticals (HS 30) from Italy.
What is the trade balance between Argentina and Italy?
Argentina recorded a trade deficit of $232.67M with Italy, as imports more than doubled export volumes in Q4 2023.
Argentina - Italy Trade 2023 Q3: Volatile Deficit
Argentina's trade deficit with Italy hit $220.42M in Q3 2023, driven by resource-for-tech imbalance. Explore Argentina Italy trade trends and top trading products via yTrade data.
Argentina - Italy Trade 2024 Whole Year: Narrowing Deficit
Argentina's trade deficit with Italy narrowed in 2024, with $1.08B exports vs. $1.33B imports. Explore Argentina Italy trade trends and top trading products via yTrade data.
