Argentina - Mainland China Trade 2024 Q3: Volatile Deficit

Key Market Takeaways: Argentina - Mainland China Trade

The bilateral trade relationship between Argentina and Mainland China shows mixed growth with high volatility in Q3 2024.

• $4.66B total trade volume masks a $1.84B deficit for Argentina, as exports ($1.41B) lag behind Chinese imports ($3.25B). YoY swings ranged from +32% to -47%.
• Resource-for-Tech exchange: Argentina’s top exports (oilseeds, meat) fund critical imports of Chinese machinery/electronics, per Argentina - Mainland China trade statistics. Top 2 categories dominate 56% of exports.
• Asymmetric interdependence: Argentina’s commodity reliance contrasts with China’s value-add advantage, locking in a structural trade gap.

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

Argentina-Mainland China Trade Trend in Q3 2024

Argentina Export Performance: Shipments to Mainland China

• Total Volume: $1.41B in Q3 2024.
• Growth Trend & Context:
  • Mixed YoY performance: +7.63% in July, +32.12% in August, but -9.74% in September.
  • No specific trade news to explain fluctuations.
• Key Volatility: August saw the highest MoM growth (+8.9%), while September dropped sharply (-18.26% MoM).

Argentina Import Performance: Sourcing from Mainland China

• Total Volume: $3.25B in Q3 2024.
• Growth Trend & Context:
  • Steep YoY declines: -25.53% (July), -47.05% (August), moderating to -2.65% in September.
  • No news to contextualize the contraction.
• Key Volatility: September imports surged 55.83% MoM after a -9.69% drop in August.

Argentina - Mainland China Trade Balance & Market Dynamics

• Net Position: $1.84B trade deficit (Imports exceeded exports by $1.84B).
• Relationship Status: Argentina remains heavily dependent on Chinese imports, with exports failing to offset the deficit despite August’s export rebound.

Argentina Import Trend from Mainland China 2024 Q3 (Source: yTrade)**

Argentina Export Trend to Mainland China 2024 Q3 (Source: yTrade)**

Get Historical Argentina Mainland China Trade Records

Argentina-Mainland China Top Trading Products in Q3 2024

Argentina Export Profile: What Does Argentina Sell to Mainland China

• Top Commodity: HS Code 12 (Oilseeds and misc. grains) dominates at 29.72% of exports.
• Demand Driver: Mainland China uses these for industrial processing, likely as feedstocks for food production or biofuels.
• Concentration: The top two categories (HS 12 and 02) account for 56.48%, indicating heavy reliance on agricultural exports.

Argentina Import Profile: What Does Argentina Buy from Mainland China

• Top Commodity: HS Code 85 (Electrical machinery) leads at 26.12% of imports.
• Dependency Nature: Critical technology dependency, reflecting Argentina's need for industrial and consumer electronics.

Argentina - Mainland China Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina supplies raw materials (oilseeds, meat) in exchange for high-value manufactured goods (machinery, electronics).
• Value Chain Position: Mainland China holds the higher value-add position, exporting complex products (HS 85, 84) while Argentina remains a commodity supplier.

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

The Argentina - Mainland China trade relationship is expected to remain volatile in Q4 2024, with exports likely to stabilize but imports continuing their erratic decline. While Argentina’s agricultural exports (HS 12, 02) will sustain demand from China, the sharp contraction in Chinese imports signals weakening industrial demand or potential supply chain shifts. The persistent $1.84B deficit underscores Argentina’s reliance on Chinese tech (HS 85), leaving it vulnerable to price fluctuations. Traders should brace for uneven growth, with export opportunities in commodities but import costs remaining unpredictable.

Strategic Moves

• Lock in Agri-Export Contracts: Argentine exporters must secure long-term agreements for oilseeds and meat (HS 12, 02) to capitalize on China’s steady demand, mitigating price volatility.
• Diversify Tech Sourcing: Argentine importers should reduce dependency on Chinese electronics (HS 85) by exploring alternative suppliers in Southeast Asia or Eastern Europe to hedge against supply shocks.
• Monitor Currency Risks: With trade imbalances straining Argentina’s forex reserves, businesses must hedge peso-yuan exposure to protect margins from abrupt exchange rate swings.

Frequently Asked Questions

How did Argentina - Mainland China trade perform in 2024 Q3?

Argentina exported $1.41B to Mainland China, with mixed YoY growth (+7.63% in July, -9.74% in September), while imports totaled $3.25B, showing steep YoY declines (-25.53% in July, -2.65% in September).

What are the top exports from Argentina to Mainland China?

Oilseeds and misc. grains (HS Code 12) dominated Argentina’s exports, accounting for 29.72%, followed by meat products (HS Code 02), together making up 56.48% of total exports.

What does Argentina import from Mainland China?

Electrical machinery (HS Code 85) was the top import, representing 26.12% of Argentina’s purchases, reflecting a dependency on high-value manufactured goods.

What is the trade balance between Argentina and Mainland China?

Argentina recorded a $1.84B trade deficit with Mainland China in Q3 2024, as imports significantly outweighed exports. The deficit highlights Argentina’s reliance on Chinese industrial goods.