Argentina - Japan Trade 2024 Whole Year: $1.25B Deficit

Key Market Takeaways: Argentina - Japan Trade

The bilateral trade relationship between Argentina and Japan remains heavily skewed toward imports, with Argentina running a persistent deficit in 2024.

• $1.25B Deficit: Argentina imported $1.25B from Japan while exporting just $307.78M, reflecting a lopsided exchange. Export volatility (8 months of double-digit YoY declines) worsened the imbalance.
• Resource-for-Tech Trade: Argentina - Japan trade statistics show a classic asymmetry—Argentina supplies food/seafood (HS 03, 20) and unclassified goods (HS 99), while Japan dominates with vehicles (HS 87) and machinery (HS 84).
• Complementary but Unequal: Japan holds the high-value position in this partnership, with Argentina dependent on Japanese industrial goods and lacking export diversification.

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

Argentina-Japan Trade Trend in Whole Year 2024

Argentina Export Performance: Shipments to Japan

• Total Volume: $307.78M for 2024.
• Growth Trend & Context:
  • YoY declines dominated, with 8 of 12 months showing double-digit contractions (e.g., -77.59% in June, -74.43% in May).
  • July was the sole outlier (+23.15% YoY), likely a temporary spike.
• Key Volatility: July saw a 253.46% MoM surge, while September and October posted sharp drops (-40.1% and -44.74% MoM, respectively).

Argentina Import Performance: Sourcing from Japan

• Total Volume: $1.25B for 2024.
• Growth Trend & Context:
  • Mixed YoY performance: H1 mostly negative (peaking at -25.72% in February), but H2 rebounded (e.g., +38.97% in December).
• Key Volatility: July and August drove recovery (+24.81% and +12.02% MoM), while February and June saw steep declines (-20.3% and -11.03% MoM).

Argentina - Japan Trade Balance & Market Dynamics

• Net Position: Trade deficit of $942.22M (Imports $1.25B > Exports $307.78M).
• Relationship Status: Argentina remains heavily import-dependent on Japan, with exports failing to offset inbound shipments. The deficit narrowed slightly in late 2024 due to stronger year-end exports.

Argentina Import Trend from Japan 2024 Whole Year (Source: yTrade)**

Argentina Export Trend to Japan 2024 Whole Year (Source: yTrade)**

Get Historical Argentina Japan Trade Records

Argentina-Japan Top Trading Products in Whole Year 2024

Argentina Export Profile: What Does Argentina Sell to Japan

• Top Commodity: HS Code 99 (58.14% share). Likely unclassified or special category goods, given the high share and lack of standard HS code clarity.
• Demand Driver: Secondary exports include HS Code 03 (27.41%, likely fish/seafood) and HS Code 20 (9.27%, processed foods). Suggests Japan sources food products from Argentina, possibly for consumer markets or food processing.
• Concentration: Extreme—HS Code 99 alone accounts for 58.14% of exports, indicating heavy reliance on a single category.

Argentina Import Profile: What Does Argentina Buy from Japan

• Top Commodity: HS Code 87 (38.70%, vehicles) dominates, followed by HS Code 84 (23.73%, machinery).
• Dependency Nature: High-tech and industrial goods (vehicles, machinery, electrical equipment) dominate imports. Reflects Argentina’s reliance on Japanese technology and capital goods for manufacturing or infrastructure.

Argentina - Japan Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina exports food and raw materials (fish, processed goods) while importing high-value machinery and vehicles from Japan. Classic asymmetric trade.
• Value Chain Position: Japan holds the higher value-add position, supplying advanced manufactured goods. Argentina’s exports are lower on the value chain, primarily food and commodities.

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

The Argentina-Japan trade relationship is likely to remain volatile in the near term, with Argentina’s export performance facing persistent headwinds due to its heavy reliance on a narrow basket of goods (notably HS Code 99). While Japan’s demand for Argentine food products (HS Code 03, 20) may stabilize, the lack of export diversification and recurring YoY declines suggest limited upside. Meanwhile, Argentina’s import dependency on Japanese high-tech goods (HS Code 87, 84) will sustain the trade deficit, though a weaker peso could further strain affordability. Traders should brace for uneven demand swings, particularly in H1 2025.

Strategic Moves

• Diversify Export Offerings: Argentine exporters must reduce reliance on HS Code 99 by expanding into higher-value agri-food segments (e.g., organic produce, premium seafood) to capture Japan’s niche consumer markets.
• Lock In Supply Contracts: Importers of Japanese machinery and vehicles should negotiate long-term agreements to mitigate price volatility and potential FX fluctuations.
• Monitor H2 Recovery Signals: With Japan’s import rebound in late 2024, traders should track MoM trends for HS Code 84 and 87 to time purchases ahead of potential tariff or logistical bottlenecks.

Frequently Asked Questions

How did Argentina - Japan trade perform in 2024 Whole Year?

Argentina recorded a trade deficit of $942.22M with Japan in 2024, with exports totaling $307.78M and imports reaching $1.25B. Exports showed YoY declines, while imports rebounded in the second half of the year.

What are the top exports from Argentina to Japan?

Argentina’s top exports to Japan include HS Code 99 (unclassified/special goods, 58.14%), HS Code 03 (fish/seafood, 27.41%), and HS Code 20 (processed foods, 9.27%), indicating a focus on food and raw materials.

What does Argentina import from Japan?

Argentina primarily imports HS Code 87 (vehicles, 38.70%) and HS Code 84 (machinery, 23.73%) from Japan, reflecting reliance on high-tech and industrial goods.

What is the trade balance between Argentina and Japan?

Argentina had a trade deficit with Japan in 2024, though the gap narrowed slightly toward year-end due to stronger export performance in late 2024.