Argentina - Mainland China Trade 2023 Q2: $2B Deficit Dominates

Key Market Takeaways: Argentina - Mainland China Trade

The bilateral trade relationship between Argentina and Mainland China shows persistent import reliance amid volatile demand in Q2 2023.

• $2B Deficit Dominates: Argentina’s trade gap with China hit $2B ($3.47B imports vs. $1.47B exports), with both flows declining YoY but marked by erratic monthly swings.
• Resource-for-Tech Exchange: Argentina - Mainland China trade statistics reveal a lopsided structure: 33% meat exports offset by 28% machinery imports, highlighting raw materials-for-tech dependency.
• Complementary but Unequal: The partnership is structurally complementary but locks Argentina into a lower value-add position, supplying commodities for China’s manufactured goods.

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

Argentina-Mainland China Trade Trend in Q2 2023

Argentina Export Performance: Shipments to Mainland China

• Total Volume: Exports to Mainland China totaled $1.47B in Q2 2023.
• Growth Trend & Context:
  • YoY declines dominated the quarter, with -16.68% in April and -23.54% in June, though May saw a 20.37% YoY rebound.
  • No specific trade news explains these fluctuations.
• Key Volatility: May’s 130.59% MoM surge (to $697.59M) was followed by a -33.35% MoM drop in June, indicating erratic demand or supply chain adjustments.

Argentina Import Performance: Sourcing from Mainland China

• Total Volume: Imports from Mainland China reached $3.47B in Q2 2023.
• Growth Trend & Context:
  • Persistent YoY contractions: -22.92% in April, -13.05% in May, and -19.71% in June.
• Key Volatility: May’s 28.66% MoM jump (to $1.24B) was the quarter’s high, but momentum faded with a -11.72% MoM drop in April and near-flat growth in June (+1.95% MoM).

Argentina - Mainland China Trade Balance & Market Dynamics

• Net Position: Argentina ran a trade deficit of $2B ($3.47B imports vs. $1.47B exports).
• Relationship Status: Heavy import reliance persists, with imports more than double exports. The consistent YoY declines in both flows suggest broader demand weakness or shifting trade priorities.

Argentina Import Trend from Mainland China 2023 Q2 (Source: yTrade)**

Argentina Export Trend to Mainland China 2023 Q2 (Source: yTrade)**

Get Historical Argentina Mainland China Trade Records

Argentina-Mainland China Top Trading Products in Q2 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 33.10% share.
• Demand Driver: Mainland China buys these for food consumption and industrial processing (e.g., meat for retail and further manufacturing).
• Concentration: The top 3 exports (HS 02, 12, 99) account for 79.17% of total exports, indicating high trade concentration in raw materials.

Argentina Import Profile: What Does Argentina Buy from Mainland China

• Top Commodity: Rank #1 import is HS 85 (Electrical machinery and equipment) with a 27.76% share.
• Dependency Nature: Reflects critical technology dependency, as imports are dominated by machinery and industrial goods (HS 85, 84, 29).

Argentina - Mainland China Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Argentina exports raw materials (meat, crops) and imports high-tech machinery.
• Value Chain Position: Mainland China holds the higher value-add position, supplying complex manufactured goods, while Argentina provides commodities.

Import Analysis by Product: Mainland China to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to Mainland China (Source: yTrade)

Check Detailed Argentina-Mainland China Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Argentina’s trade with Mainland China is expected to remain volatile in the near term, with persistent deficits and uneven demand. The YoY declines in both exports and imports signal broader economic headwinds, likely tied to fluctuating commodity prices and tightening Chinese demand for raw materials. However, May’s export rebound suggests pockets of opportunity in meat and agricultural shipments, assuming supply chain stability. Traders should brace for continued asymmetry, with Argentina’s resource-for-tech dependency deepening unless structural shifts occur.

Strategic Moves

• Lock in Long-term Meat Contracts: With HS 02 (Meat) dominating exports, Argentine producers must secure multi-year agreements with Chinese buyers to mitigate price swings and ensure stable revenue.
• Diversify Import Sources for Tech Goods: Reduce overreliance on Chinese machinery (HS 85) by exploring competitive alternatives from Southeast Asia or Europe to balance cost and supply chain resilience.
• Push for Higher-Value Agri-Exports: Upgrade meat and crop processing capabilities to export semi-finished goods (e.g., packaged meats, oils) and capture more value from China’s food import market.

Frequently Asked Questions

How did Argentina - Mainland China trade perform in 2023 Q2?

Argentina's exports to Mainland China totaled $1.47B in Q2 2023, with mixed YoY growth, while imports reached $3.47B, showing persistent YoY declines.

What are the top exports from Argentina to Mainland China?

The top exports are Meat and edible meat offal (HS 02), accounting for 33.10% of total exports, alongside other raw materials.

What does Argentina import from Mainland China?

Argentina primarily imports Electrical machinery and equipment (HS 85), representing 27.76% of total imports, followed by other high-tech industrial goods.

What is the trade balance between Argentina and Mainland China?

Argentina recorded a trade deficit of $2B in Q2 2023, with imports more than double exports, reflecting heavy reliance on Mainland China.