Argentina - Italy Trade 2024 Whole Year: Narrowing Deficit
Key Market Takeaways: Argentina - Italy Trade
The bilateral trade relationship between Argentina and Italy shows volatile growth with a narrowing trade deficit in 2024.
- Economic Pulse: Argentina runs a $250M trade deficit with Italy ($1.33B imports vs. $1.08B exports), though strong export recovery in late 2024 reduced the gap.
- Exchange Structure: Argentina - Italy trade statistics reveal a resource-for-tech dynamic—Argentina supplies food residues and seafood (81% of exports), while Italy dominates with machinery and pharmaceuticals (37% of imports).
- Strategic Interdependence: The partnership reflects asymmetric complementarity, with Italy holding higher value-add in advanced manufacturing and Argentina reliant on commodity exports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Italy Trade Trend in Whole Year 2024
Argentina Export Performance: Shipments to Italy
- Total Volume: $1.08B in 2024.
- Growth Trend & Context:
- Volatile YoY performance, ranging from -10.6% (Jan) to +289.11% (Dec). Strong recovery in H2 (e.g., Dec +289.11% YoY).
- No specific trade news to explain fluctuations.
- Key Volatility: June saw a 70.41% MoM surge, while July dropped -35.7% MoM.
Argentina Import Performance: Sourcing from Italy
- Total Volume: $1.33B in 2024.
- Growth Trend & Context:
- Consistent YoY declines, averaging -26.5% (peak: -7.9% in Dec; trough: -53.3% in May).
- Key Volatility: April had a 40.88% MoM rebound, but May dropped -16.61% MoM.
Argentina - Italy Trade Balance & Market Dynamics
- Net Position: Trade deficit of $250M (Imports $1.33B > Exports $1.08B).
- Relationship Status: Argentina remains a net importer from Italy, though export recovery in late 2024 narrowed the gap.
Argentina Import Trend from Italy 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 154.65M | 23.43% | 7.4% |
| Feb | 103.77M | -32.9% | -14.25% |
| Mar | 86.26M | -16.87% | -41.7% |
| Apr | 121.52M | 40.88% | -24.45% |
| May | 101.34M | -16.61% | -53.3% |
| Jun | 95.74M | -5.52% | -37.5% |
| Jul | 120.73M | 26.09% | -21.69% |
| Aug | 95.20M | -21.14% | -35.1% |
| Sep | 115.91M | 21.75% | -14.87% |
| Oct | 113.21M | -2.32% | -22.71% |
| Nov | 109.42M | -3.35% | -30.96% |
| Dec | 115.40M | 5.47% | -7.9% |
| Total | 1.33B | - | - |
Argentina Export Trend to Italy 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 69.92M | 177.24% | -10.6% |
| Feb | 61.03M | -12.71% | 27.55% |
| Mar | 74.49M | 22.04% | 62.19% |
| Apr | 79.84M | 7.19% | 31.89% |
| May | 73.30M | -8.19% | 5.86% |
| Jun | 124.91M | 70.41% | 43.34% |
| Jul | 80.31M | -35.7% | 18.29% |
| Aug | 97.95M | 21.96% | 25.27% |
| Sep | 91.14M | -6.95% | 29.26% |
| Oct | 128.13M | 40.59% | 22.7% |
| Nov | 104.62M | -18.35% | 54.0% |
| Dec | 98.13M | -6.2% | 289.11% |
| Total | 1.08B | - | - |
Get Historical Argentina Italy Trade Records
Argentina-Italy Top Trading Products in Whole Year 2024
Argentina Export Profile: What Does Argentina Sell to Italy
- Top Commodity: HS Code 23 (Food industry residues and waste) dominates at 42.35% of exports.
- Demand Driver: Italy likely uses these for industrial processing, such as animal feed or biofuel production.
- Concentration: The top 3 exports (HS 23, 99, 03) account for 81.32%, indicating high reliance on a few commodity categories.
Argentina Import Profile: What Does Argentina Buy from Italy
- Top Commodity: HS Code 84 (Nuclear reactors, boilers, machinery) leads with 37.46% of imports.
- Dependency Nature: Reflects critical technology dependency, as machinery and equipment are essential for industrial and infrastructure development.
Argentina - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (food residues, seafood) while importing high-value machinery and pharmaceuticals from Italy.
- 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 | 499.41M | 37.46% |
| 30 | 123.98M | 9.30% |
| 85 | 96.62M | 7.25% |
| 87 | 70.68M | 5.30% |
| 90 | 64.39M | 4.83% |
| 73 | 57.50M | 4.31% |
| 29 | 50.12M | 3.76% |
| 39 | 46.96M | 3.52% |
| 27 | 39.29M | 2.95% |
| 38 | 37.23M | 2.79% |
Export Analysis by Product: Argentina to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 23 | 459.03M | 42.35% |
| 99 | 255.97M | 23.62% |
| 03 | 166.41M | 15.35% |
| 02 | 69.64M | 6.43% |
| 12 | 36.62M | 3.38% |
| 07 | 28.32M | 2.61% |
| 08 | 25.68M | 2.37% |
| 51 | 10.12M | 0.93% |
| 38 | 8.58M | 0.79% |
| 20 | 7.40M | 0.68% |
Check Detailed Argentina-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Italy Trade
Argentina’s trade with Italy is expected to stabilize in 2025, with exports likely to sustain their late-2024 recovery, driven by strong demand for food residues (HS 23) and seafood (HS 03). However, import declines may persist if Italy’s machinery and pharmaceutical exports face competition or Argentina’s industrial demand weakens further. The trade deficit will likely narrow but remain, given Italy’s entrenched position in high-value supply chains. Volatility risks linger, particularly in commodity pricing and currency fluctuations, requiring proactive risk management.
Strategic Moves for Traders & Policymakers
- Diversify Export Markets: Argentina’s overreliance on Italy for 42% of food residue exports (HS 23) leaves it vulnerable to demand shocks. Exporters should target alternative EU markets like Spain or Germany to mitigate concentration risk.
- Lock in Long-Term Tech Contracts: Italian machinery (HS 84) is critical for Argentina’s industrial base. Importers should negotiate multi-year supply agreements to hedge against price swings and ensure stable access.
- Boost Value-Added Exports: Argentina must reduce its commodity dependency by promoting processed food or biofuels (derived from HS 23) to capture higher margins and counter Italy’s tech advantage.
Frequently Asked Questions
How did Argentina - Italy trade perform in 2024 Whole Year?
Argentina exported $1.08B to Italy, with volatile YoY growth (-10.6% to +289.11%), while imports from Italy totaled $1.33B, showing consistent YoY declines (-26.5% average).
What are the top exports from Argentina to Italy?
Argentina’s top exports to Italy are HS Code 23 (Food industry residues and waste), HS Code 99, and HS Code 03 (seafood), accounting for 81.32% of total exports.
What does Argentina import from Italy?
Argentina’s top import from Italy is HS Code 84 (Nuclear reactors, boilers, machinery), representing 37.46% of imports, reflecting a dependency on high-value industrial technology.
What is the trade balance between Argentina and Italy?
Argentina recorded a trade deficit of $250M with Italy in 2024, though the gap narrowed due to strong export recovery in late 2024.
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.
Argentina - Italy Trade 2024 Q1: Deficit-Driven Exchange
Argentina's trade deficit with Italy hit $139.24M in Q1 2024, driven by agricultural exports and machinery imports. Explore Argentina Italy trade trends and top trading products via yTrade data.
