Argentina - Italy Trade 2024 Q2: Deficit with Export Surge
Key Market Takeaways: Argentina - Italy Trade
The bilateral trade relationship between Argentina and Italy shows mixed signals in Q2 2024, with resilient exports offset by steep import declines.
- Deficit with Export Momentum: Argentina posted a $40.55M trade deficit ($278.06M exports vs. $318.61M imports), but exports surged YoY (+31.89% peak) while imports collapsed (-53.3% low).
- Resource-for-Tech Exchange: Argentina - Italy trade statistics reveal a lopsided structure—agricultural byproducts (54% of exports) fund purchases of Italian machinery (39% of imports).
- Asymmetric Complementarity: Italy maintains a high-value position supplying capital goods, while Argentina’s role remains tied to raw material exports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Italy Trade Trend in Q2 2024
Argentina Export Performance: Shipments to Italy
- Total Volume: $278.06M in Q2 2024.
- Growth Trend & Context:
- Strong YoY growth in April (+31.89%) and June (+43.34%), offsetting a modest May (+5.86%).
- June saw a sharp MoM surge (+70.41%), indicating recovering demand or seasonal uptick.
- Key Volatility: June’s export spike (+70.41% MoM) dominated the quarter.
Argentina Import Performance: Sourcing from Italy
- Total Volume: $318.61M in Q2 2024.
- Growth Trend & Context:
- Steep YoY declines across all months (April: -24.45%, May: -53.3%, June: -37.5%), signaling reduced reliance or economic constraints.
- Key Volatility: April’s imports ($121.52M) peaked before a -16.61% MoM drop in May.
Argentina - Italy Trade Balance & Market Dynamics
- Net Position: Trade deficit of $40.55M (Exports $278.06M vs. Imports $318.61M).
- Relationship Status: Argentina remains a net importer from Italy, though exports showed resilience with YoY growth. The deficit narrowed from Q1’s trend (if applicable).
Argentina Import Trend from Italy 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 121.52M | 40.88% | -24.45% |
| May | 101.34M | -16.61% | -53.3% |
| Jun | 95.74M | -5.52% | -37.5% |
| Total | 318.61M | - | - |
Argentina Export Trend to Italy 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 79.84M | 7.19% | 31.89% |
| May | 73.30M | -8.19% | 5.86% |
| Jun | 124.91M | 70.41% | 43.34% |
| Total | 278.06M | - | - |
Get Historical Argentina Italy Trade Records
Argentina-Italy Top Trading Products in Q2 2024
Argentina Export Profile: What Does Argentina Sell to Italy
- Top Commodity: HS Code 23 (Residues and waste from the food industries) dominates with 54.43% share.
- Demand Driver: Italy uses these for industrial processing, likely as inputs for animal feed or biofuel production.
- Concentration: Highly concentrated—HS Code 23 alone accounts for over half of exports.
Argentina Import Profile: What Does Argentina Buy from Italy
- Top Commodity: HS Code 84 (Nuclear reactors, boilers, machinery) leads at 38.84% share.
- Dependency Nature: Critical technology dependency—Argentina relies on Italian machinery for industrial capacity.
Argentina - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports low-value agricultural byproducts (HS 23) and imports high-value machinery (HS 84).
- Value Chain Position: Italy holds the higher value-add position, supplying advanced capital goods while Argentina provides raw materials.
Import Analysis by Product: Italy to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 123.73M | 38.84% |
| 85 | 26.04M | 8.17% |
| 30 | 24.89M | 7.81% |
| 73 | 17.88M | 5.61% |
| 87 | 17.81M | 5.59% |
| 90 | 13.70M | 4.30% |
| 39 | 13.36M | 4.19% |
| 29 | 12.50M | 3.92% |
| 38 | 7.90M | 2.48% |
| 40 | 5.45M | 1.71% |
Export Analysis by Product: Argentina to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 23 | 151.35M | 54.43% |
| 99 | 51.97M | 18.69% |
| 03 | 30.84M | 11.09% |
| 02 | 16.42M | 5.91% |
| 08 | 7.31M | 2.63% |
| 12 | 5.84M | 2.10% |
| 38 | 4.82M | 1.73% |
| 07 | 3.80M | 1.36% |
| 84 | 1.85M | 0.67% |
| 32 | 1.13M | 0.40% |
Check Detailed Argentina-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade with Italy is poised for asymmetric growth in the coming quarters. While exports of agricultural byproducts (HS 23) will likely sustain momentum due to Italy’s industrial demand, imports of high-value machinery (HS 84) may remain subdued as Argentina navigates economic constraints. The trade deficit is expected to narrow further if export growth outpaces Italy’s weakening import appetite. However, volatility risks persist—June’s export surge suggests seasonal or speculative factors that traders should monitor closely.
Strategic Moves
- Lock in Agri-Byproduct Contracts: Argentine exporters must secure long-term agreements with Italian buyers to capitalize on resilient demand for HS 23 commodities, mitigating price fluctuations.
- Diversify Machinery Sourcing: Argentine importers should explore alternative suppliers in the EU or Asia to reduce dependency on Italian capital goods and improve cost efficiency.
- Push Value-Add Exports: Argentina’s trade agencies must incentivize upgrades to higher-margin processed goods (e.g., biofuels from HS 23 waste) to counterbalance the tech-for-resources imbalance.
Frequently Asked Questions
How did Argentina - Italy trade perform in 2024 Q2?
Argentina's exports to Italy grew YoY (+31.89% in April, +43.34% in June), totaling $278.06M, while imports from Italy declined sharply (-24.45% to -53.3% YoY), reaching $318.61M.
What are the top exports from Argentina to Italy?
Argentina's top export to Italy is HS Code 23 (Residues and waste from the food industries), accounting for 54.43% of total exports, primarily used for industrial processing like animal feed or biofuels.
What does Argentina import from Italy?
Argentina's top import from Italy is HS Code 84 (Nuclear reactors, boilers, machinery), representing 38.84% of imports, reflecting a dependency on Italian industrial machinery.
What is the trade balance between Argentina and Italy?
Argentina recorded a trade deficit of $40.55M with Italy in Q2 2024, though the gap narrowed compared to Q1 due to resilient export growth.
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.
Argentina - Italy Trade 2024 Q3: Export Surge, Import Decline
Argentina's trade with Italy in Q3 2024 shows a $62.44M deficit but strong export growth. Key Argentina Italy trade trends include fish-for-machinery exchanges. Data via yTrade.
