Argentina - Mainland China Trade 2024 Q2: Surplus Surge
Key Market Takeaways: Argentina - Mainland China Trade
The bilateral trade relationship between Argentina and Mainland China shifted to a net exporter position in Q2 2024, driven by surging exports and declining imports.
- Economic Pulse: Argentina posted a $240M trade surplus ($2.41B exports vs. $2.17B imports), with exports surging YoY (+28.73% to +125.4%) while imports plummeted (-24.41% to -46.97%).
- Exchange Structure: Argentina - Mainland China trade statistics reveal a resource-for-tech model—Argentina supplies 52.97% of its exports in oilseeds and grains, while importing critical electronics (24.85% share in HS 85).
- Strategic Interdependence: Highly complementary but asymmetric—China dominates high-value manufacturing, while Argentina remains a key agricultural supplier.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Mainland China Trade Trend in Q2 2024
Argentina Export Performance: Shipments to Mainland China
- Total Volume: $2.41B in Q2 2024.
- Growth Trend & Context:
- Strong YoY growth across all months (Apr: +28.73%, May: +39.22%, Jun: +125.4%), signaling robust demand or improved trade terms.
- No specific news to explain the surge, but the consistency suggests structural factors (e.g., commodity demand).
- Key Volatility: May saw a 149.38% MoM spike, likely due to seasonal or contractual shipments.
Argentina Import Performance: Sourcing from Mainland China
- Total Volume: $2.17B in Q2 2024.
- Growth Trend & Context:
- Steep YoY declines (Apr: -24.41%, May: -38.3%, Jun: -46.97%), indicating reduced reliance or domestic substitution.
- Key Volatility: June recorded the lowest value ($671.51M) and sharpest MoM drop (-12.38%).
Argentina - Mainland China Trade Balance & Market Dynamics
- Net Position: Trade surplus of $240M (Exports: $2.41B > Imports: $2.17B).
- Relationship Status: Argentina shifted to a net exporter, likely driven by stronger export performance amid import contraction.
Argentina Import Trend from Mainland China 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 729.77M | 2.45% | -24.41% |
| May | 766.41M | 5.02% | -38.3% |
| Jun | 671.51M | -12.38% | -46.97% |
| Total | 2.17B | - | - |
Argentina Export Trend to Mainland China 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 389.43M | 23.78% | 28.73% |
| May | 971.18M | 149.38% | 39.22% |
| Jun | 1.05B | 7.9% | 125.4% |
| Total | 2.41B | - | - |
Get Historical Argentina Mainland China Trade Records
Argentina-Mainland China Top Trading Products in Q2 2024
Argentina Export Profile: What Does Argentina Sell to Mainland China
- Top Commodity: Rank #1 export is HS Code 12 (Oilseeds, grains, seeds, fruits) with 52.97% share.
- Demand Driver: Mainland China uses these for industrial processing (e.g., soybean crushing for animal feed and cooking oil).
- Concentration: Highly concentrated—HS Code 12 alone accounts for over half of exports.
Argentina Import Profile: What Does Argentina Buy from Mainland China
- Top Commodity: Rank #1 import is HS Code 85 (Electrical machinery, equipment) with 24.85% share.
- Dependency Nature: Critical technology dependency—China supplies essential electronics and industrial machinery.
Argentina - Mainland China Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Argentina exports raw materials (oilseeds, meats) and imports high-value machinery and electronics.
- Value Chain Position: Mainland China holds the higher value-add position, dominating complex manufacturing exports (HS 84, 85), while Argentina remains a key supplier of agricultural commodities.
Import Analysis by Product: Mainland China to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 538.77M | 24.85% |
| 84 | 436.46M | 20.13% |
| 29 | 318.66M | 14.70% |
| 87 | 107.85M | 4.98% |
| 39 | 96.51M | 4.45% |
| 90 | 62.69M | 2.89% |
| 73 | 53.20M | 2.45% |
| 38 | 41.80M | 1.93% |
| 94 | 35.70M | 1.65% |
| 40 | 34.56M | 1.59% |
Export Analysis by Product: Argentina to Mainland China (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 1.28B | 52.97% |
| 02 | 350.66M | 14.56% |
| 15 | 245.39M | 10.19% |
| 10 | 177.96M | 7.39% |
| 99 | 131.14M | 5.44% |
| 28 | 113.64M | 4.72% |
| 03 | 60.70M | 2.52% |
| 41 | 22.28M | 0.92% |
| 23 | 8.35M | 0.35% |
| 51 | 5.85M | 0.24% |
Check Detailed Argentina-Mainland China Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with Mainland China is expected to widen in Q3 2024, driven by sustained demand for agricultural commodities (HS Code 12) and further contraction in Chinese imports. The structural complementarity—Argentina’s resource exports for China’s tech and machinery—will remain the core dynamic, but volatility in import volumes signals potential supply chain adjustments. Exporters should capitalize on China’s reliance on oilseeds, while importers must prepare for tighter margins due to declining shipments of electronics (HS Code 85).
Strategic Moves
- Lock in Commodity Contracts: Argentine soybean and grain exporters should secure long-term agreements with Chinese buyers to stabilize revenue amid fluctuating global prices.
- Diversify Tech Sourcing: Manufacturers reliant on Chinese electronics (HS Code 85) must explore alternative suppliers in Southeast Asia or domestic production to mitigate import volatility.
- Monitor Trade Policy Shifts: Traders must track China’s agricultural stockpiling strategies and Argentina’s potential tariff adjustments to preempt supply-demand imbalances.
Frequently Asked Questions
How did Argentina - Mainland China trade perform in 2024 Q2?
Argentina recorded a trade surplus of $240M, with exports to Mainland China surging (+28.73% YoY in April) while imports declined sharply (-24.41% YoY in April).
What are the top exports from Argentina to Mainland China?
HS Code 12 (Oilseeds, grains, seeds, fruits) dominates, accounting for 52.97% of Argentina’s exports to Mainland China.
What does Argentina import from Mainland China?
HS Code 85 (Electrical machinery, equipment) is the top import, representing 24.85% of Argentina’s purchases from Mainland China.
What is the trade balance between Argentina and Mainland China?
Argentina shifted to a trade surplus ($240M) in Q2 2024, driven by strong export growth and declining imports.
Argentina - Mainland China Trade 2024 Q1: Deepening Deficit
Argentina's trade deficit with Mainland China persists in Q1 2024, driven by meat/grain exports funding high-tech imports. Explore Argentina Mainland China trade trends & top products via yTrade data.
Argentina - Mainland China Trade 2024 Q3: Volatile Deficit
Argentina's trade deficit with Mainland China hit $1.84B in Q3 2024, as oilseeds and meat exports lag behind China's machinery imports. Explore Argentina Mainland China trade trends and top products via yTrade data.
