Argentina - Italy Trade 2024 Q4: Volatile Swings, Resource-Tech Exchange
Key Market Takeaways: Argentina - Italy Trade
The bilateral trade relationship between Argentina and Italy shows erratic growth and softening import reliance in Q4 2024.
- Near-balanced trade with volatile swings: Argentina posted a narrow $7.16M deficit (exports $330.88M, imports $338.04M), but exports saw extreme YoY surges (+289% in December) while imports contracted (-31% in November).
- Resource-for-Tech exchange dominates bilateral trade data: Argentina supplies Italy with agricultural byproducts (57% of exports, HS 23) and imports high-value machinery (40% of imports, HS 84), reflecting a classic complementarity.
- Asymmetric value chain positions: Italy maintains the higher-margin role as an advanced equipment supplier, while Argentina remains a raw material exporter—highlighting untapped industrial upgrade potential.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Italy Trade Trend in Q4 2024
Argentina Export Performance: Shipments to Italy
- Total Volume: $330.88M in Q4 2024.
- Growth Trend & Context:
- YoY swings were extreme: +22.7% in October, +54.0% in November, and +289.11% in December. The December surge suggests a year-end shipment rush or base effect from low 2023 volumes.
- No relevant trade news to explain volatility.
- Key Volatility: November saw an 18.35% MoM drop, the sharpest decline in the quarter.
Argentina Import Performance: Sourcing from Italy
- Total Volume: $338.04M in Q4 2024.
- Growth Trend & Context:
- YoY contractions persisted: -22.71% (October), -30.96% (November), -7.9% (December). Indicates reduced demand or inventory drawdowns.
- Key Volatility: December rebounded 5.47% MoM after two months of decline, possibly signaling restocking.
Argentina - Italy Trade Balance & Market Dynamics
- Net Position: Narrow deficit of $7.16M (Imports $338.04M vs. Exports $330.88M).
- Relationship Status: Near-balanced trade, but Argentina’s import reliance on Italy is softening (YoY declines) while exports show erratic growth.
Argentina Import Trend from Italy 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 113.21M | -2.32% | -22.71% |
| Nov | 109.42M | -3.35% | -30.96% |
| Dec | 115.40M | 5.47% | -7.9% |
| Total | 338.04M | - | - |
Argentina Export Trend to Italy 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 128.13M | 40.59% | 22.7% |
| Nov | 104.62M | -18.35% | 54.0% |
| Dec | 98.13M | -6.2% | 289.11% |
| Total | 330.88M | - | - |
Get Historical Argentina Italy Trade Records
Argentina-Italy Top Trading Products in Q4 2024
Argentina Export Profile: What Does Argentina Sell to Italy
- Top Commodity: Rank #1 export is HS Code 23 (Residues and waste from the food industries) at 57.43% of total exports to Italy.
- Demand Driver: Italy uses these for industrial processing, likely as inputs for animal feed or biofuel production.
- Concentration: Trade is highly concentrated, with HS Code 23 accounting for over half of exports.
Argentina Import Profile: What Does Argentina Buy from Italy
- Top Commodity: Rank #1 import is HS Code 84 (Nuclear reactors, boilers, machinery) at 40.38% of total imports from Italy.
- Dependency Nature: Critical technology dependency, as machinery imports suggest reliance on Italian industrial equipment.
Argentina - Italy Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports low-value-added agricultural byproducts (HS 23) and imports high-value machinery (HS 84).
- Value Chain Position: Italy holds the higher value-add position, supplying advanced machinery while Argentina provides raw materials.
Import Analysis by Product: Italy to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 136.51M | 40.38% |
| 30 | 26.79M | 7.93% |
| 90 | 20.80M | 6.15% |
| 85 | 20.77M | 6.14% |
| 87 | 19.70M | 5.83% |
| 29 | 11.68M | 3.45% |
| 38 | 11.36M | 3.36% |
| 39 | 11.16M | 3.30% |
| 73 | 11.08M | 3.28% |
| 88 | 6.82M | 2.02% |
Export Analysis by Product: Argentina to Italy (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 23 | 190.03M | 57.43% |
| 99 | 52.00M | 15.72% |
| 03 | 36.58M | 11.06% |
| 02 | 21.40M | 6.47% |
| 12 | 11.53M | 3.49% |
| 07 | 7.78M | 2.35% |
| 51 | 4.45M | 1.34% |
| 20 | 2.03M | 0.61% |
| 84 | 822.11K | 0.25% |
| 32 | 751.67K | 0.23% |
Check Detailed Argentina-Italy Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Italy trade relationship is poised for volatility in the near term, driven by erratic export growth and softening Italian machinery demand. Argentina’s year-end export surge (notably +289.11% YoY in December) suggests short-term momentum, but the structural reliance on low-value agricultural byproducts (HS 23) leaves exports vulnerable to commodity price swings. Italy’s declining machinery imports (-22.71% YoY in October) signal reduced capital expenditure in Argentina, likely due to tighter fiscal conditions. Expect near-balanced trade to persist, but with Argentina’s export growth outpacing imports if industrial feedstock demand holds.
Strategic Moves
- Lock in Agri-Byproduct Contracts: With HS 23 (57.43% of exports) facing volatile demand, Argentine exporters should secure long-term supply agreements with Italian biofuel or feed manufacturers to stabilize revenue.
- Diversify Machinery Suppliers: Argentine importers must reduce dependency on Italian HS 84 machinery (40.38% of imports) by exploring German or Chinese alternatives to mitigate price and supply chain risks.
- Monitor Inventory Cycles Closely: The December import rebound (+5.47% MoM) hints at restocking—traders should align orders with Italian production cycles to avoid overpaying during peak demand periods.
Next Steps: Argentine exporters should prioritize value-added processing of HS 23 goods to capture higher margins, while importers negotiate bulk discounts on Italian machinery amid weakening demand.
Frequently Asked Questions
How did Argentina - Italy trade perform in 2024 Q4?
Argentina's exports to Italy surged with extreme YoY growth (+289.11% in December), while imports from Italy contracted (-22.71% to -7.9% YoY). Total trade volumes were nearly balanced at $330.88M (exports) vs. $338.04M (imports).
What are the top exports from Argentina to Italy?
The top export was HS Code 23 (Residues and waste from the food industries), accounting for 57.43% of total exports, likely used for animal feed or biofuel production in Italy.
What does Argentina import from Italy?
Argentina primarily imports HS Code 84 (Nuclear reactors, boilers, machinery), representing 40.38% of total imports, reflecting reliance on Italian industrial equipment.
What is the trade balance between Argentina and Italy?
Argentina had a narrow trade deficit of $7.16M in Q4 2024, with imports softening YoY while exports showed erratic growth. The gap is nearly balanced but reflects a resource-for-tech exchange.
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