Argentina - Japan Trade 2023 Q4: Persistent Deficit

Key Market Takeaways: Argentina - Japan Trade

The bilateral trade relationship between Argentina and Japan is marked by volatility and a persistent deficit in 2023 Q4.

• Economic Pulse: Argentina posted a $134.4M trade deficit with Japan ($156.24M exports vs. $290.64M imports), with erratic monthly swings in both directions.
• Exchange Structure: Argentina - Japan trade statistics reveal a resource-for-tech dynamic—Argentina ships niche/unclassified goods (HS Code 99, 51% share) while importing critical vehicles (HS Code 87, 42%) and machinery from Japan.
• Strategic Interdependence: Japan holds the high-value position, supplying advanced manufactured goods, while Argentina’s exports remain concentrated and less processed.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Argentina-Japan Trade Trend in Q4 2023

Argentina Export Performance: Shipments to Japan

• Total Volume: $156.24M in Q4 2023.
• Growth Trend & Context:
  • Volatile YoY performance: October (+39.93%) and December (+44.05%) saw strong growth, but November collapsed (-24.25%).
  • No clear trend due to extreme MoM swings, notably November’s -41.25% drop followed by December’s 11.69% rebound.
• Key Volatility: November’s exports plummeted to $40.91M, the lowest in the quarter.

Argentina Import Performance: Sourcing from Japan

• Total Volume: $290.64M in Q4 2023.
• Growth Trend & Context:
  • Mixed YoY: October (+7.01%) growth reversed to steep declines in November (-7.15%) and December (-18.65%).
  • MoM volatility: November’s 15.28% surge was erased by December’s -14.27% contraction.
• Key Volatility: November’s imports peaked at $106.67M before dropping sharply.

Argentina - Japan Trade Balance & Market Dynamics

• Net Position: Trade deficit of $134.4M (Exports $156.24M vs. Imports $290.64M).
• Relationship Status: Argentina remains a net importer from Japan, with imports nearly double exports. The quarter’s erratic trade flows suggest unstable demand or supply chain disruptions.

Argentina Import Trend from Japan 2023 Q4 (Source: yTrade)**

Argentina Export Trend to Japan 2023 Q4 (Source: yTrade)**

Get Historical Argentina Japan Trade Records

Argentina-Japan Top Trading Products in Q4 2023

Argentina Export Profile: What Does Argentina Sell to Japan

• Top Commodity: HS Code 99 (51.17% share). Likely unclassified or special category goods, given the high share.
• Demand Driver: Japan's imports are dominated by a single category (HS Code 99 >50%), suggesting a niche or specialized trade flow, possibly tied to bilateral agreements or unique commodities.
• Concentration: Extreme—HS Code 99 accounts for over half of exports, indicating heavy reliance on one product group.

Argentina Import Profile: What Does Argentina Buy from Japan

• Top Commodity: HS Code 87 (41.62% share)—Vehicles (likely autos or auto parts).
• Dependency Nature: Critical technology dependency. Japan supplies high-value machinery (HS Codes 84, 85, 90) and vehicles, essential for Argentina's industrial or consumer sectors.

Argentina - Japan Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina exports niche/unclassified goods (HS Code 99) and agricultural products (HS Codes 03, 10) to Japan, while importing advanced machinery and vehicles.
• Value Chain Position: Japan holds the higher value-add position, supplying complex manufactured goods (vehicles, machinery, optics), while Argentina's exports are less processed (agricultural, unclassified).

Import Analysis by Product: Japan to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to Japan (Source: yTrade)

Check Detailed Argentina-Japan Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Argentina’s trade with Japan is expected to remain volatile in the near term, with the deficit likely persisting due to structural imbalances. While niche exports (HS Code 99) show erratic growth potential, Japan’s dominance in high-value machinery and vehicles will continue to drive Argentina’s import dependency. Supply chain disruptions and fluctuating demand could exacerbate monthly swings, particularly in key sectors like automotive and agriculture. Traders should brace for uneven performance, with no clear stabilization until Argentina diversifies its export basket or secures more favorable terms for critical imports.

Strategic Moves

• Diversify Export Offerings: Argentina must reduce reliance on HS Code 99 by expanding into higher-value agricultural processed goods (e.g., beef, wine) to capture more stable demand in Japan.
• Lock In Long-Term Tech Imports: Argentine industrial buyers should negotiate multi-year contracts for Japanese machinery (HS Codes 84, 85) to mitigate price volatility and ensure supply chain stability.
• Monitor Currency and Trade Policies: Exporters and importers must track potential JPY-ARS fluctuations and bilateral trade negotiations, as shifts in tariffs or quotas could abruptly alter trade flows.

Frequently Asked Questions

How did Argentina - Japan trade perform in 2023 Q4?

Argentina's exports to Japan totaled $156.24M, with volatile growth (e.g., +44.05% in December), while imports from Japan reached $290.64M, showing mixed YoY trends like a -18.65% drop in December.

What are the top exports from Argentina to Japan?

Argentina's top export to Japan is HS Code 99 (unclassified/special category goods), accounting for 51.17% of shipments, indicating heavy reliance on a niche or specialized trade flow.

What does Argentina import from Japan?

Argentina primarily imports vehicles (HS Code 87, 41.62% share) and high-value machinery (HS Codes 84, 85, 90) from Japan, reflecting a critical technology dependency.

What is the trade balance between Argentina and Japan?

Argentina recorded a trade deficit of $134.4M with Japan in Q4 2023, as imports ($290.64M) nearly doubled exports ($156.24M), signaling unstable demand or supply chain disruptions.