Argentina - Italy Trade 2024 Q3: Export Surge, Import Decline
Key Market Takeaways: Argentina - Italy Trade
The bilateral trade relationship between Argentina and Italy shows diverging trends in Q3 2024, with exports surging and imports declining.
- Economic Pulse: Argentina posted a $62.44M trade deficit with Italy ($269.40M exports vs. $331.84M imports), but export growth (+18-29% YoY) signals potential rebalancing.
- Exchange Structure: Argentina - Italy trade statistics reveal a resource-for-tech model: fish and animal feed (78% of exports) swapped for Italian machinery (35% of imports).
- Strategic Interdependence: Highly complementary but unequal—Italy dominates high-value industrial exports, while Argentina remains commodity-reliant.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Italy Trade Trend in Q3 2024
Argentina Export Performance: Shipments to Italy
- Total Volume: $269.40M in Q3 2024.
- Growth Trend & Context:
- YoY growth was strong: +18.29% in July, +25.27% in August, and +29.26% in September, indicating sustained demand.
- Key Volatility: August saw the highest MoM jump (+21.96%), while September dipped slightly (-6.95%).
Argentina Import Performance: Sourcing from Italy
- Total Volume: $331.84M in Q3 2024.
- Growth Trend & Context:
- YoY declines persisted: -21.69% in July, -35.1% in August, and -14.87% in September, signaling reduced import reliance.
- Key Volatility: July had the sharpest MoM surge (+26.09%), followed by a -21.14% drop in August.
Argentina - Italy Trade Balance & Market Dynamics
- Net Position: Trade deficit of $62.44M (Imports exceeded exports).
- Relationship Status: Argentina remains a net importer from Italy, though export growth suggests potential rebalancing.
Argentina Import Trend from Italy 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 120.73M | 26.09% | -21.69% |
| Aug | 95.20M | -21.14% | -35.1% |
| Sep | 115.91M | 21.75% | -14.87% |
| Total | 331.84M | - | - |
Argentina Export Trend to Italy 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 80.31M | -35.7% | 18.29% |
| Aug | 97.95M | 21.96% | 25.27% |
| Sep | 91.14M | -6.95% | 29.26% |
| Total | 269.40M | - | - |
Get Historical Argentina Italy Trade Records
Argentina-Italy Top Trading Products in Q3 2024
Argentina Export Profile: What Does Argentina Sell to Italy
- Top Commodity: Rank #1 export is HS Code 03 (Fish and crustaceans) at 30.00% of total exports to Italy.
- Demand Driver: Italy uses these for food processing and consumer markets, reflecting Argentina's strength in marine products.
- Concentration: The top 3 exports (HS 03, 23, 99) account for 78.21%, indicating high trade concentration in a few categories.
Argentina Import Profile: What Does Argentina Buy from Italy
- Top Commodity: Rank #1 import is HS Code 84 (Nuclear reactors, boilers, machinery) at 34.99% of total imports from Italy.
- Dependency Nature: Critical technology dependency, as Italy supplies high-value machinery and industrial equipment.
Argentina - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (fish, animal feed) while importing machinery and manufactured goods.
- Value Chain Position: Italy holds the higher value-add position, dominating complex exports (machinery, pharmaceuticals) versus Argentina's commodity-driven shipments.
Import Analysis by Product: Italy to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 116.09M | 34.99% |
| 30 | 32.55M | 9.81% |
| 85 | 22.95M | 6.92% |
| 87 | 20.05M | 6.04% |
| 90 | 16.67M | 5.02% |
| 73 | 16.26M | 4.90% |
| 29 | 12.28M | 3.70% |
| 38 | 11.83M | 3.57% |
| 39 | 11.27M | 3.40% |
| 72 | 7.50M | 2.26% |
Export Analysis by Product: Argentina to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 03 | 80.83M | 30.00% |
| 23 | 69.09M | 25.65% |
| 99 | 60.78M | 22.56% |
| 02 | 20.19M | 7.49% |
| 12 | 11.54M | 4.29% |
| 08 | 7.13M | 2.65% |
| 07 | 6.13M | 2.27% |
| 51 | 3.34M | 1.24% |
| 20 | 3.24M | 1.20% |
| 38 | 2.21M | 0.82% |
Check Detailed Argentina-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Italy Trade
Argentina’s export growth to Italy is poised to accelerate further in Q4 2024, driven by sustained demand for marine products (HS 03) and animal feed (HS 23). However, the persistent trade deficit signals a need for structural adjustments, particularly as Italy’s machinery imports (HS 84) remain critical but costly. If Argentina maintains its current YoY export trajectory (+18-29%), it could narrow the deficit, but import substitution or diversification will be essential for long-term balance. Traders should monitor Italy’s industrial demand, as a slowdown could dampen Argentina’s export momentum.
Strategic Moves for Traders & Policymakers
- Lock in Long-Term Supply Contracts: Argentine seafood and feed exporters should secure multi-year agreements with Italian buyers to stabilize revenue streams amid volatile monthly swings.
- Diversify Import Sources for Machinery: Reduce dependency on Italian high-tech imports by exploring competitive alternatives from Germany or South Korea to mitigate cost pressures.
- Push for Value-Add in Exports: Process raw marine products into higher-margin goods (e.g., canned fish, fish oil) before export to capture more value and offset the tech-driven trade deficit.
Frequently Asked Questions
How did Argentina - Italy trade perform in 2024 Q3?
Argentina's exports to Italy grew strongly (+18.29% to +29.26% YoY), totaling $269.40M, while imports from Italy declined (-14.87% to -35.1% YoY), reaching $331.84M.
What are the top exports from Argentina to Italy?
The top exports are HS Code 03 (Fish and crustaceans), HS Code 23 (Animal feed), and HS Code 99 (Other commodities), accounting for 78.21% of total exports.
What does Argentina import from Italy?
The top import is HS Code 84 (Nuclear reactors, boilers, machinery), making up 34.99% of total imports, reflecting Argentina's reliance on Italian technology and industrial equipment.
What is the trade balance between Argentina and Italy?
Argentina recorded a trade deficit of $62.44M with Italy in Q3 2024, though export growth suggests potential rebalancing in the future.
Argentina - Italy Trade 2024 Q2: Deficit with Export Surge
Argentina's trade with Italy in Q2 2024 shows a $40.55M deficit despite a 31.89% export surge. Explore Argentina Italy trade trends and top trading products like agricultural byproducts and Italian machinery via yTrade data.
Argentina - Italy Trade 2024 Q4: Volatile Swings, Resource-Tech Exchange
Argentina's trade with Italy in Q4 2024 shows erratic growth, with agricultural exports surging 289% while machinery imports dominate. Explore the latest Argentina Italy trade trends and top trading products on yTrade.
