Argentina - Japan Trade 2024 Q1: Deficit Widens
Key Market Takeaways: Argentina - Japan Trade
The bilateral trade relationship between Argentina and Japan contracted sharply in Q1 2024, with Argentina deepening its trade deficit.
- Economic Pulse: Argentina posted a -$216.17M trade deficit (exports: $47.03M, imports: $263.20M), with YoY declines in both directions.
- Exchange Structure: Argentina - Japan trade statistics reveal a resource-for-tech dynamic—raw materials (70% HS Code 99) flow to Japan, while high-tech machinery (41% HS Code 87) dominates imports.
- Strategic Interdependence: Japan holds the value-add advantage, supplying critical industrial inputs, while Argentina remains a niche supplier of primary goods.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Japan Trade Trend in Q1 2024
Argentina Export Performance: Shipments to Japan
- Total Volume: $47.03M in Q1 2024.
- Growth Trend & Context:
- YoY declines persisted across all months, with March (-67.72%) marking the sharpest drop.
- No mitigating news to explain the contraction.
- Key Volatility: January saw the steepest MoM drop (-63.42%).
Argentina Import Performance: Sourcing from Japan
- Total Volume: $263.20M in Q1 2024.
- Growth Trend & Context:
- YoY declines were consistent, though February (-25.72%) was the least severe.
- Key Volatility: February recorded the lowest monthly value ($76.00M), while January had the highest ($95.35M).
Argentina - Japan Trade Balance & Market Dynamics
- Net Position: Argentina ran a trade deficit of -$216.17M (Exports $47.03M vs. Imports $263.20M).
- Relationship Status: Heavy reliance on Japanese imports, with exports failing to offset the imbalance.
Argentina Import Trend from Japan 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 95.35M | 4.27% | -5.52% |
| Feb | 76.00M | -20.3% | -25.72% |
| Mar | 91.85M | 20.86% | -10.12% |
| Total | 263.20M | - | - |
Argentina Export Trend to Japan 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 16.71M | -63.42% | -64.33% |
| Feb | 15.36M | -8.12% | -42.08% |
| Mar | 14.95M | -2.63% | -67.72% |
| Total | 47.03M | - | - |
Get Historical Argentina Japan Trade Records
Argentina-Japan Top Trading Products in Q1 2024
Argentina Export Profile: What Does Argentina Sell to Japan
- Top Commodity: Rank #1 Export is HS Code 99 (69.80% share).
- Demand Driver: Japan likely uses these for industrial processing (raw materials/intermediates).
- Concentration: Highly concentrated, with HS Code 99 dominating at nearly 70% of exports.
Argentina Import Profile: What Does Argentina Buy from Japan
- Top Commodity: Rank #1 Import is HS Code 87 (41.23% share).
- Dependency Nature: Critical technology dependency (high-tech/machinery).
Argentina - Japan Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (HS Code 99) and imports high-tech machinery (HS Code 87).
- Value Chain Position: Japan holds the higher value-add position, supplying advanced machinery and vehicles (HS Codes 87, 84, 85).
Import Analysis by Product: Japan to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 108.51M | 41.23% |
| 84 | 60.01M | 22.80% |
| 85 | 20.84M | 7.92% |
| 90 | 20.65M | 7.85% |
| 29 | 14.01M | 5.32% |
| 30 | 13.22M | 5.02% |
| 73 | 6.36M | 2.42% |
| 40 | 5.07M | 1.93% |
| 39 | 4.29M | 1.63% |
| 38 | 2.01M | 0.76% |
Export Analysis by Product: Argentina to Japan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 32.82M | 69.80% |
| 03 | 7.03M | 14.94% |
| 20 | 4.43M | 9.42% |
| 22 | 1.18M | 2.52% |
| 04 | 494.71K | 1.05% |
| 02 | 408.93K | 0.87% |
| 12 | 399.27K | 0.85% |
| 38 | 260.49K | 0.55% |
Check Detailed Argentina-Japan Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade deficit with Japan is likely to persist in Q2 2024, driven by continued declines in exports and sustained demand for Japanese high-tech imports. The sharp YoY drop in Argentine shipments (notably HS Code 99) signals weakening competitiveness or reduced Japanese demand for raw materials. Without structural shifts, the resource-for-tech imbalance will deepen, exacerbating Argentina’s reliance on Japan for critical machinery. Traders should brace for volatility, particularly in commodity prices and currency fluctuations.
Strategic Moves
- Diversify Export Markets: Argentine exporters must reduce dependence on HS Code 99 by targeting alternative buyers in Southeast Asia or Europe to mitigate Japan’s declining demand.
- Secure Long-term Tech Contracts: Importers should lock in favorable terms for Japanese machinery (HS Code 87) now to hedge against future supply chain disruptions or price hikes.
- Leverage Trade Diplomacy: Argentina’s government must prioritize bilateral talks to secure tariff reductions or quotas for key exports, balancing the trade deficit.
Frequently Asked Questions
How did Argentina - Japan trade perform in 2024 Q1?
Argentina's exports to Japan totaled $47.03M, with YoY declines across all months. Imports from Japan reached $263.20M, also showing consistent YoY drops.
What are the top exports from Argentina to Japan?
The top export is HS Code 99, accounting for 69.80% of Argentina's shipments to Japan, likely raw materials for industrial processing.
What does Argentina import from Japan?
Argentina's top import is HS Code 87 (41.23% share), reflecting a critical dependency on high-tech machinery and vehicles from Japan.
What is the trade balance between Argentina and Japan?
Argentina recorded a trade deficit of -$216.17M in Q1 2024, driven by heavy reliance on Japanese imports and weak export performance.
Argentina - Japan Trade 2024 Whole Year: $1.25B Deficit
Argentina's trade deficit with Japan hit $1.25B in 2024, driven by Japan's dominance in vehicles and machinery. Explore Argentina Japan trade trends and top trading products via yTrade data.
Argentina - Japan Trade 2024 Q2: Deficit Widens Sharply
Argentina's trade deficit with Japan hit $233.7M in Q2 2024 as exports plunged 74.9%. Explore Argentina Japan trade trends and top trading products via yTrade data.
