Argentina - Mexico Trade 2024 Whole Year: Volatile Deficit
Key Market Takeaways: Argentina - Mexico Trade
The bilateral trade relationship between Argentina and Mexico is marked by volatility and a persistent trade deficit in 2024.
- Economic Pulse: Argentina runs a $624.66M trade deficit with Mexico ($1.42B imports vs. $795.34M exports), with erratic YoY swings in both directions.
- Exchange Structure: Argentina - Mexico trade statistics reveal a resource-for-tech imbalance—Argentina ships raw materials (HS 99, 60% share) while importing vehicles (HS 87) and machinery (HS 84).
- Strategic Interdependence: Mexico holds the higher value-add position, supplying critical industrial inputs, while Argentina remains a commodity exporter.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Mexico Trade Trend in Whole Year 2024
Argentina Export Performance: Shipments to Mexico
- Total Volume: $795.34M in 2024.
- Growth Trend & Context:
- Mixed YoY performance, with sharp declines in Feb (-14.3%), Sep (-17.42%), and Dec (-50.13%) offset by surges in Mar (56.39%) and May (41.05%).
- No specific trade news to contextualize volatility.
- Key Volatility: March saw the highest MoM jump (+130.82%), while October recorded the steepest drop (-38.02%).
Argentina Import Performance: Sourcing from Mexico
- Total Volume: $1.42B in 2024.
- Growth Trend & Context:
- YoY declines dominated (-14.9% in Jan, -50.48% in Aug), except for Feb (+10.37%) and Dec (+62.11%).
- Key Volatility: September posted the largest MoM rebound (+82.01%), while August collapsed (-35.92% MoM, -50.48% YoY).
Argentina - Mexico Trade Balance & Market Dynamics
- Net Position: Trade deficit of $624.66M (Imports $1.42B > Exports $795.34M).
- Relationship Status: Argentina remains a net importer from Mexico, with significant reliance on Mexican goods amid erratic demand swings.
Argentina Import Trend from Mexico 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 112.05M | 31.09% | -14.9% |
| Feb | 115.62M | 3.18% | 10.37% |
| Mar | 128.41M | 11.07% | -7.05% |
| Apr | 111.10M | -13.49% | -7.49% |
| May | 142.45M | 28.22% | -2.73% |
| Jun | 100.09M | -29.74% | -19.44% |
| Jul | 118.82M | 18.71% | -0.5% |
| Aug | 76.13M | -35.92% | -50.48% |
| Sep | 138.57M | 82.01% | -14.71% |
| Oct | 112.71M | -18.66% | -26.87% |
| Nov | 129.69M | 15.07% | 7.12% |
| Dec | 138.58M | 6.86% | 62.11% |
| Total | 1.42B | - | - |
Argentina Export Trend to Mexico 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 59.83M | -30.21% | 1.49% |
| Feb | 46.58M | -22.15% | -14.3% |
| Mar | 107.50M | 130.82% | 56.39% |
| Apr | 74.70M | -30.51% | 10.15% |
| May | 83.10M | 11.24% | 41.05% |
| Jun | 64.31M | -22.62% | -14.54% |
| Jul | 80.13M | 24.61% | 29.79% |
| Aug | 68.88M | -14.05% | -21.78% |
| Sep | 75.22M | 9.22% | -17.42% |
| Oct | 46.62M | -38.02% | -31.19% |
| Nov | 45.72M | -1.94% | -27.89% |
| Dec | 42.75M | -6.5% | -50.13% |
| Total | 795.34M | - | - |
Get Historical Argentina Mexico Trade Records
Argentina-Mexico Top Trading Products in Whole Year 2024
Argentina Export Profile: What Does Argentina Sell to Mexico
- Top Commodity: HS Code 99 dominates with 59.77% share, indicating a highly concentrated export.
- Demand Driver: Likely raw materials or intermediates, given the high share of a single category. Mexico uses these for industrial processing.
- Concentration: Extreme, with HS Code 99 alone accounting for nearly 60% of exports.
Argentina Import Profile: What Does Argentina Buy from Mexico
- Top Commodity: HS Code 87 (vehicles) leads with 31.47% share, followed by machinery (HS 84) at 16.27%.
- Dependency Nature: Critical technology dependency, as imports are dominated by vehicles and industrial machinery.
Argentina - Mexico Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (HS 99) while importing high-value manufactured goods (HS 87, 84).
- Value Chain Position: Mexico holds the higher value-add position, supplying advanced machinery and vehicles, while Argentina provides bulk commodities.
Import Analysis by Product: Mexico to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 448.22M | 31.47% |
| 84 | 231.69M | 16.27% |
| 85 | 199.79M | 14.03% |
| 90 | 114.30M | 8.03% |
| 29 | 63.04M | 4.43% |
| 73 | 52.68M | 3.70% |
| 33 | 50.74M | 3.56% |
| 39 | 48.96M | 3.44% |
| 94 | 20.23M | 1.42% |
| 82 | 19.74M | 1.39% |
Export Analysis by Product: Argentina to Mexico (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 475.41M | 59.77% |
| 15 | 61.88M | 7.78% |
| 02 | 49.53M | 6.23% |
| 30 | 33.17M | 4.17% |
| 07 | 30.16M | 3.79% |
| 84 | 23.84M | 3.00% |
| 22 | 22.88M | 2.88% |
| 08 | 20.09M | 2.53% |
| 29 | 13.46M | 1.69% |
| 12 | 10.10M | 1.27% |
Check Detailed Argentina-Mexico Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Mexico trade relationship is likely to remain volatile in the near term, with Argentina’s trade deficit persisting due to its heavy reliance on Mexican high-value imports (HS 87, 84) against concentrated raw material exports (HS 99). While sporadic export surges (e.g., March +56.39%) suggest pockets of demand, erratic YoY declines (-50.13% in December) signal underlying instability. Without structural shifts, Mexico will retain its value-chain advantage, leaving Argentina exposed to price swings in commodity markets. Traders should brace for continued asymmetry, with Mexico dictating terms in critical sectors like automotive and machinery.
Strategic Moves
- Diversify Export Markets: Argentina’s overreliance on HS 99 (59.77% of exports) is a vulnerability. Exporters must aggressively target new sectors (e.g., processed foods, chemicals) to reduce dependency on a single commodity and mitigate Mexico’s demand fluctuations.
- Lock In Long-Term Supply Contracts: Importers of Mexican vehicles (HS 87) and machinery (HS 84) should negotiate fixed-price agreements to hedge against currency volatility and supply chain disruptions, given Mexico’s dominant position.
- Leverage Regional Trade Pacts: Argentina must exploit existing Latin American trade agreements (e.g., Pacific Alliance observer status) to reduce import costs and secure alternative tech suppliers, weakening Mexico’s pricing power in critical industrial inputs.
Frequently Asked Questions
How did Argentina - Mexico trade perform in 2024 Whole Year?
Argentina exported $795.34M to Mexico and imported $1.42B, with mixed growth trends and high volatility in monthly trade flows.
What are the top exports from Argentina to Mexico?
HS Code 99 dominates Argentina's exports to Mexico, accounting for 59.77% of total shipments, likely representing raw materials or intermediates.
What does Argentina import from Mexico?
Argentina primarily imports vehicles (HS Code 87, 31.47%) and machinery (HS Code 84, 16.27%) from Mexico.
What is the trade balance between Argentina and Mexico?
Argentina recorded a trade deficit of $624.66M with Mexico in 2024, driven by higher imports of manufactured goods.
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