Argentina - Japan Trade 2024 Q2: Deficit Widens Sharply

Key Market Takeaways: Argentina - Japan Trade

The bilateral trade relationship between Argentina and Japan deteriorated sharply in Q2 2024, with exports collapsing and imports declining.

• $233.7M Deficit: Argentina’s trade gap with Japan widened as imports ($280.8M) dwarfed exports ($47.1M), both contracting YoY (-10.1% and -74.9%, respectively).
• Resource-for-Tech Exchange: Argentina - Japan trade statistics reveal a lopsided structure—unclassified/specialized goods (61.7% of exports) vs. Japan’s vehicles and machinery (36.3% of imports).
• Asymmetric Dependency: Japan holds the high-value position, supplying critical industrial inputs, while Argentina’s export basket lacks diversification.

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

Argentina-Japan Trade Trend in Q2 2024

Argentina Export Performance: Shipments to Japan

• Total Volume: $47.12M in Q2 2024.
• Growth Trend & Context: YoY declines accelerated, averaging -74.89% across the quarter. No mitigating news to explain the severe contraction.
• Key Volatility: May saw the sharpest MoM drop (-19.99%), while June posted a marginal rebound (+2.13%).

Argentina Import Performance: Sourcing from Japan

• Total Volume: $280.84M in Q2 2024.
• Growth Trend & Context: YoY declines persisted (-10.11% average), though less severe than exports. No news to contextualize the trend.
• Key Volatility: April was the peak month ($104.21M), followed by consecutive MoM drops (-10.31% in May, -11.03% in June).

Argentina - Japan Trade Balance & Market Dynamics

• Net Position: $233.72M trade deficit for Argentina, driven by imports outweighing exports by 6x.
• Relationship Status: Heavy import dependence on Japan, with export revenues failing to offset outflows. Structural trade imbalance evident.

Argentina Import Trend from Japan 2024 Q2 (Source: yTrade)**

Argentina Export Trend to Japan 2024 Q2 (Source: yTrade)**

Get Historical Argentina Japan Trade Records

Argentina-Japan Top Trading Products in Q2 2024

Argentina Export Profile: What Does Argentina Sell to Japan

• Top Commodity: HS Code 99 (61.65% share). Likely unclassified or special category goods, dominating exports.
• Demand Driver: Japan's reliance on Argentina for niche or specialized products, possibly raw materials or intermediates for industrial use.
• Concentration: Extreme—HS Code 99 alone accounts for over 60% of exports, indicating high dependency on a single category.

Argentina Import Profile: What Does Argentina Buy from Japan

• Top Commodity: HS Code 87 (36.31% share). Vehicles (likely auto parts or complete units), reflecting Japan's industrial strength.
• Dependency Nature: Critical technology dependency—Argentina imports high-value machinery and transport equipment, essential for infrastructure or manufacturing.

Argentina - Japan Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina exports unclassified/specialized goods (HS 99) while importing advanced machinery (HS 87) from Japan.
• Value Chain Position: Japan holds the higher value-add position, supplying complex manufactured goods (HS 84, 85, 87) versus Argentina's less diversified export basket.

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 faces continued contraction in the near term, with exports likely to remain depressed due to structural dependency on a single unclassified commodity (HS 99). Japan’s demand for high-value machinery (HS 87) will sustain Argentina’s trade deficit, but import volumes may soften further if domestic economic conditions weaken. Without diversification or policy intervention, the current imbalance will persist, leaving Argentina vulnerable to external shocks. Traders should brace for volatility, particularly in commodity-linked shipments.

Strategic Moves

• Diversify Export Basket: Argentina must reduce reliance on HS 99 by identifying and promoting secondary export categories, such as agricultural byproducts or processed goods, to mitigate concentration risk.
• Negotiate Tech Transfers: Leverage Japan’s industrial expertise to secure joint ventures or local production agreements for critical machinery (HS 84-87), reducing long-term import dependency.
• Monitor Currency Fluctuations: With a widening deficit, Argentine importers should hedge against JPY volatility, while exporters must price competitively to retain Japan’s niche demand.

Frequently Asked Questions

How did Argentina - Japan trade perform in 2024 Q2?

Argentina's exports to Japan fell sharply (-74.89% YoY) to $47.12M, while imports declined moderately (-10.11% YoY) to $280.84M, resulting in a $233.72M trade deficit for Argentina.

What are the top exports from Argentina to Japan?

Argentina's top export to Japan is HS Code 99 (unclassified or special category goods), accounting for 61.65% of total exports, indicating high dependency on this niche category.

What does Argentina import from Japan?

Argentina primarily imports vehicles (HS Code 87) from Japan, making up 36.31% of total imports, reflecting Japan's strength in advanced machinery and transport equipment.

What is the trade balance between Argentina and Japan?

Argentina recorded a trade deficit of $233.72M with Japan in Q2 2024, driven by imports outweighing exports by 6x, highlighting a structural imbalance.