Argentina - Mexico Trade 2023 Whole Year: Resource-Tech Imbalance
Key Market Takeaways: Argentina - Mexico Trade
The bilateral trade relationship between Argentina and Mexico is marked by volatility and a persistent deficit in 2023.
- Economic Pulse: Argentina posted a $718.20M trade deficit with Mexico ($1.56B imports vs. $841.80M exports), with sharp YoY swings in both directions.
- Exchange Structure: Argentina - Mexico trade statistics reveal a resource-for-tech imbalance—Argentina’s exports are dominated by unclassified goods (HS 99, 65.57%), while Mexico supplies critical industrial products like vehicles (HS 87, 31.13%) and machinery.
- Strategic Interdependence: Mexico holds the higher value-add position, reflecting Argentina’s reliance on advanced manufactured imports and niche export dependencies.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Mexico Trade Trend in Whole Year 2023
Argentina Export Performance: Shipments to Mexico
- Total Volume: $841.80M in 2023.
- Growth Trend & Context:
- YoY declines dominated, with sharp drops in May (-54.86%), September (-45.36%), and December (-31.73%). Only August (+8.86%) showed positive YoY growth.
- No specific trade news to contextualize the volatility.
- Key Volatility: August saw the highest MoM surge (+42.61%), while October had the steepest drop (-25.62%).
Argentina Import Performance: Sourcing from Mexico
- Total Volume: $1.56B in 2023.
- Growth Trend & Context:
- YoY performance was mixed: strong growth in January (+36.63%), September (+21.06%), and October (+29.07%) contrasted with steep declines in April (-37.67%) and December (-42.45%).
- Key Volatility: August recorded the highest monthly value ($153.75M, +28.75% MoM), while December hit the lowest ($85.48M, -29.39% MoM).
Argentina - Mexico Trade Balance & Market Dynamics
- Net Position: Argentina ran a trade deficit of $718.20M (Imports $1.56B > Exports $841.80M).
- Relationship Status: Heavy reliance on Mexican imports, with exports failing to offset the imbalance. Volatility in both directions suggests unstable demand or supply chain disruptions.
Argentina Import Trend from Mexico 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 131.68M | -11.35% | 36.63% |
| Feb | 104.75M | -20.45% | -26.34% |
| Mar | 138.15M | 31.88% | -8.34% |
| Apr | 120.09M | -13.07% | -37.67% |
| May | 146.44M | 21.95% | -11.71% |
| Jun | 124.24M | -15.16% | 0.15% |
| Jul | 119.42M | -3.88% | -9.32% |
| Aug | 153.75M | 28.75% | -8.05% |
| Sep | 162.48M | 5.68% | 21.06% |
| Oct | 154.13M | -5.14% | 29.07% |
| Nov | 121.07M | -21.45% | -12.03% |
| Dec | 85.48M | -29.39% | -42.45% |
| Total | 1.56B | - | - |
Argentina Export Trend to Mexico 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 58.95M | -53.05% | -0.97% |
| Feb | 54.35M | -7.81% | -0.02% |
| Mar | 68.74M | 26.48% | -18.66% |
| Apr | 67.82M | -1.33% | -21.75% |
| May | 58.92M | -13.13% | -54.86% |
| Jun | 75.25M | 27.72% | -14.45% |
| Jul | 61.74M | -17.95% | -27.05% |
| Aug | 88.05M | 42.61% | 8.86% |
| Sep | 91.09M | 3.46% | -45.36% |
| Oct | 67.76M | -25.62% | -20.09% |
| Nov | 63.40M | -6.42% | -10.45% |
| Dec | 85.73M | 35.21% | -31.73% |
| Total | 841.80M | - | - |
Get Historical Argentina Mexico Trade Records
Argentina-Mexico Top Trading Products in Whole Year 2023
Argentina Export Profile: What Does Argentina Sell to Mexico
- Top Commodity: HS Code 99 dominates exports to Mexico, accounting for 65.57% of total export value.
- Demand Driver: The high share of HS Code 99 suggests Argentina supplies Mexico with special or unclassified goods, likely serving niche industrial or regulatory needs.
- Concentration: Extreme reliance on one category (65.57%) indicates high export concentration risk.
Argentina Import Profile: What Does Argentina Buy from Mexico
- Top Commodity: HS Code 87 (vehicles) leads imports at 31.13%, followed by machinery (HS 84, 15.24%) and electrical equipment (HS 85, 13.13%).
- Dependency Nature: Imports are industrial-heavy, with vehicles and machinery reflecting critical technology and manufacturing dependencies.
Argentina - Mexico Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports unclassified/specialty goods (HS 99) while importing high-value industrial products (HS 87, 84, 85).
- Value Chain Position: Mexico holds the higher value-add position, supplying advanced manufactured goods, while Argentina’s exports lack clear industrial categorization.
Import Analysis by Product: Mexico to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 486.16M | 31.13% |
| 84 | 237.93M | 15.24% |
| 85 | 205.03M | 13.13% |
| 90 | 108.98M | 6.98% |
| 33 | 83.30M | 5.33% |
| 39 | 58.34M | 3.74% |
| 72 | 44.02M | 2.82% |
| 29 | 41.25M | 2.64% |
| 73 | 33.40M | 2.14% |
| 32 | 33.13M | 2.12% |
Export Analysis by Product: Argentina to Mexico (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 551.95M | 65.57% |
| 15 | 83.29M | 9.89% |
| 84 | 41.77M | 4.96% |
| 30 | 32.82M | 3.90% |
| 22 | 26.59M | 3.16% |
| 07 | 20.66M | 2.45% |
| 08 | 14.54M | 1.73% |
| 29 | 14.02M | 1.67% |
| 12 | 10.68M | 1.27% |
| 10 | 7.18M | 0.85% |
Check Detailed Argentina-Mexico Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Mexico trade relationship in 2024 is likely to remain volatile, with Argentina’s deficit persisting due to structural imbalances. While Mexican demand for Argentina’s unclassified exports (HS 99) may stabilize, the lack of diversification in Argentina’s export basket heightens vulnerability to demand shocks. Conversely, Argentina’s reliance on Mexican industrial goods (HS 87, 84, 85) will continue, driven by entrenched supply chain dependencies. Without intervention, the trade gap could widen further, especially if Mexico’s manufacturing sector outpaces Argentina’s capacity to offset imports with niche exports.
Strategic Moves
- Diversify Export Offerings: Argentine exporters must reduce dependence on HS 99 by identifying and scaling secondary commodities with demand in Mexico, such as agricultural or processed goods, to mitigate concentration risk.
- Secure Long-Term Supply Agreements: Importers of Mexican vehicles and machinery should lock in contracts now to hedge against potential price volatility and supply chain disruptions, given the industrial-heavy import profile.
- Leverage Trade Diplomacy: Argentine trade officials should push for bilateral agreements that incentivize Mexican investment in local production of high-value industrial goods, reducing import dependency and rebalancing the trade deficit.
Frequently Asked Questions
How did Argentina - Mexico trade perform in 2023 Whole Year?
Argentina exported $841.80M to Mexico and imported $1.56B, with mixed YoY growth and high volatility in both directions.
What are the top exports from Argentina to Mexico?
HS Code 99 (special/unclassified goods) dominated Argentina’s exports to Mexico, accounting for 65.57% of total export value.
What does Argentina import from Mexico?
Top imports include vehicles (HS 87, 31.13%), machinery (HS 84, 15.24%), and electrical equipment (HS 85, 13.13%).
What is the trade balance between Argentina and Mexico?
Argentina ran a trade deficit of $718.20M with Mexico in 2023, driven by higher imports of industrial goods.
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