Argentina - Mainland China Trade 2023 Whole Year: $9.31B Deficit
Key Market Takeaways: Argentina - Mainland China Trade
The bilateral trade relationship between Argentina and Mainland China weakened in 2023, marked by persistent declines in both exports and imports.
- $9.31B Deficit: Argentina’s trade gap with China hit $9.31B (imports $14.48B > exports $5.17B), with YoY drops in 10 of 12 months for imports and 8 of 12 for exports.
- Resource-for-Tech Exchange: Argentina - Mainland China trade statistics show a lopsided structure—soybeans, meat, and grains (68% of exports) flow east, while machinery and electronics (54% of imports) dominate inbound shipments.
- Asymmetric Dependency: China holds the high-value position, supplying critical industrial inputs, while Argentina remains locked into raw material exports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Mainland China Trade Trend in Whole Year 2023
Argentina Export Performance: Shipments to Mainland China
- Total Volume: $5.17B in 2023.
- Growth Trend & Context:
- YoY declines dominated, with double-digit drops in 8 of 12 months (peak: -64.33% in October).
- No significant recovery trend; only May (+20.37% YoY) and January (+12.07% YoY) showed growth.
- Key Volatility: May saw a 130.59% MoM surge, while November collapsed by -44.86% MoM.
Argentina Import Performance: Sourcing from Mainland China
- Total Volume: $14.48B in 2023.
- Growth Trend & Context:
- YoY contractions persisted for 10 months, with August (+5.53% YoY) the sole exception.
- December was the weakest month (-34.34% YoY, -38.07% MoM).
- Key Volatility: August imports spiked 27.02% MoM, but September and December saw sharp reversals (-15.24% and -38.07% MoM, respectively).
Argentina - Mainland China Trade Balance & Market Dynamics
- Net Position: Trade deficit of $9.31B (Imports $14.48B > Exports $5.17B).
- Relationship Status: Heavy reliance on Chinese imports, with exports failing to offset despite May’s brief rebound. Persistent YoY declines in both flows suggest weakening bilateral trade momentum.
Argentina Import Trend from Mainland China 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 1.14B | -4.21% | -24.09% |
| Feb | 920.95M | -19.51% | -27.52% |
| Mar | 1.09B | 18.74% | -32.55% |
| Apr | 965.43M | -11.72% | -22.92% |
| May | 1.24B | 28.66% | -13.05% |
| Jun | 1.27B | 1.95% | -19.71% |
| Jul | 1.32B | 4.12% | -11.23% |
| Aug | 1.67B | 27.02% | 5.53% |
| Sep | 1.42B | -15.24% | -12.19% |
| Oct | 1.38B | -2.72% | -7.91% |
| Nov | 1.27B | -8.3% | -13.31% |
| Dec | 784.31M | -38.07% | -34.34% |
| Total | 14.48B | - | - |
Argentina Export Trend to Mainland China 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 406.20M | 14.96% | 12.07% |
| Feb | 396.82M | -2.31% | 0.76% |
| Mar | 400.14M | 0.84% | -14.71% |
| Apr | 302.52M | -24.4% | -16.68% |
| May | 697.59M | 130.59% | 20.37% |
| Jun | 464.93M | -33.35% | -23.54% |
| Jul | 438.28M | -5.73% | -40.62% |
| Aug | 388.84M | -11.28% | -32.07% |
| Sep | 465.26M | 19.65% | -55.56% |
| Oct | 571.91M | 22.92% | -64.33% |
| Nov | 315.33M | -44.86% | -62.41% |
| Dec | 325.69M | 3.28% | -7.83% |
| Total | 5.17B | - | - |
Get Historical Argentina Mainland China Trade Records
Argentina-Mainland China Top Trading Products in Whole Year 2023
Argentina Export Profile: What Does Argentina Sell to Mainland China
- Top Commodity: Rank #1 export is HS 02 (Meat and edible meat offal) with a 33.32% share.
- Demand Driver: Mainland China buys these for food consumption and industrial processing, reflecting strong demand for protein sources.
- Concentration: The top 3 exports (HS 02, 99, 12) account for 68.19%, indicating high trade concentration in agricultural and food products.
Argentina Import Profile: What Does Argentina Buy from Mainland China
- Top Commodity: Rank #1 import is HS 85 (Electrical machinery and equipment) with a 27.10% share.
- Dependency Nature: Imports are dominated by high-tech and machinery (HS 85, 84, 90), highlighting critical technology dependency for industrial and consumer goods.
Argentina - Mainland China Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Argentina exports agricultural products (HS 02, 12, 10) while importing machinery and electronics (HS 85, 84).
- Value Chain Position: Mainland China holds the higher value-add position, supplying advanced manufactured goods, while Argentina provides raw materials.
Import Analysis by Product: Mainland China to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 3.92B | 27.10% |
| 84 | 3.36B | 23.21% |
| 29 | 1.53B | 10.60% |
| 87 | 737.09M | 5.09% |
| 39 | 558.81M | 3.86% |
| 90 | 413.63M | 2.86% |
| 73 | 281.47M | 1.94% |
| 94 | 243.21M | 1.68% |
| 40 | 233.44M | 1.61% |
| 95 | 210.54M | 1.45% |
Export Analysis by Product: Argentina to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 02 | 1.72B | 33.32% |
| 99 | 926.84M | 17.92% |
| 12 | 876.88M | 16.95% |
| 10 | 745.77M | 14.42% |
| 03 | 245.69M | 4.75% |
| 15 | 201.48M | 3.89% |
| 28 | 130.59M | 2.52% |
| 41 | 114.18M | 2.21% |
| 23 | 44.13M | 0.85% |
| 52 | 31.80M | 0.61% |
Check Detailed Argentina-Mainland China Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina - Mainland China trade outlook for 2024 remains cautious, marked by persistent volatility and a widening deficit. With both exports and imports facing prolonged YoY declines, traders should prepare for subdued demand in key sectors—particularly agricultural shipments (HS 02) and high-tech imports (HS 85). However, China’s structural need for protein and Argentina’s reliance on machinery could stabilize trade flows if pricing and supply chain disruptions ease. Expect a period of consolidation, with potential upside only if Argentina secures new export agreements or China’s industrial recovery accelerates.
Strategic Moves
- Lock in Agri-Export Contracts: Argentine meat and grain exporters must negotiate long-term supply deals with Chinese buyers to mitigate price swings and secure stable revenue streams.
- Diversify Import Sources: Reduce dependency on Chinese electronics (HS 85) by exploring alternative suppliers in Southeast Asia or domestic industrial partnerships to lower costs and supply chain risks.
- Push for Trade Incentives: Lobby Buenos Aires to fast-track bilateral agreements, such as tariff reductions on Argentine beef or streamlined customs clearance for critical tech imports, to rebalance the deficit.
Frequently Asked Questions
How did Argentina - Mainland China trade perform in 2023 Whole Year?
Argentina recorded a trade deficit of $9.31B with Mainland China in 2023, with exports at $5.17B and imports at $14.48B. Both flows showed persistent YoY declines, indicating weakening bilateral trade momentum.
What are the top exports from Argentina to Mainland China?
The top exports are HS 02 (Meat and edible meat offal), HS 99 (Unspecified commodities), and HS 12 (Oil seeds and oleaginous fruits), accounting for 68.19% of total exports.
What does Argentina import from Mainland China?
The top imports are HS 85 (Electrical machinery and equipment), HS 84 (Machinery and mechanical appliances), and HS 90 (Optical and medical instruments), reflecting a dependency on high-tech and industrial goods.
What is the trade balance between Argentina and Mainland China?
Argentina had a trade deficit of $9.31B with Mainland China in 2023, driven by higher imports ($14.48B) than exports ($5.17B). The gap persisted with no significant recovery trend.
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