Argentina - Mexico Trade 2024 Q3: Deficit & Tech Dependence
Key Market Takeaways: Argentina - Mexico Trade
The bilateral trade relationship between Argentina and Mexico shows mixed growth with high volatility in 2024 Q3.
- Economic Pulse: Argentina runs a $109.29M trade deficit with Mexico, with total trade at $557.75M. Exports fell YoY (-17.42% in September), while imports collapsed (-50.48% in August), signaling demand or supply shocks.
- Exchange Structure: Argentina - Mexico trade statistics reveal a resource-for-tech model: Argentina ships consumer goods (HS 99, 50.52% share) but relies on Mexican vehicles (HS 87, 31.57%) and machinery (HS 84-85).
- Strategic Interdependence: Mexico holds the value-add advantage, supplying advanced industrial goods, while Argentina’s export concentration risks exposure to demand shifts.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Mexico Trade Trend in Q3 2024
Argentina Export Performance: Shipments to Mexico
- Total Volume: $224.23M in Q3 2024.
- Growth Trend & Context:
- YoY declines in August (-21.78%) and September (-17.42%) offset a strong July (+29.79%), resulting in mixed annual performance.
- No specific trade news to explain volatility.
- Key Volatility: July saw a 24.61% MoM surge, while August dropped 14.05% MoM.
Argentina Import Performance: Sourcing from Mexico
- Total Volume: $333.52M in Q3 2024.
- Growth Trend & Context:
- YoY contractions in all months (July: -0.5%, August: -50.48%, September: -14.71%) signal weakened demand or supply constraints.
- Key Volatility: August imports plummeted 35.92% MoM, followed by an 82.01% MoM rebound in September.
Argentina - Mexico Trade Balance & Market Dynamics
- Net Position: Trade deficit of $109.29M (Imports exceeded exports).
- Relationship Status: Argentina remains a net importer from Mexico, with import volatility suggesting supply chain or demand-side instability.
Argentina Import Trend from Mexico 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 118.82M | 18.71% | -0.5% |
| Aug | 76.13M | -35.92% | -50.48% |
| Sep | 138.57M | 82.01% | -14.71% |
| Total | 333.52M | - | - |
Argentina Export Trend to Mexico 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 80.13M | 24.61% | 29.79% |
| Aug | 68.88M | -14.05% | -21.78% |
| Sep | 75.22M | 9.22% | -17.42% |
| Total | 224.23M | - | - |
Get Historical Argentina Mexico Trade Records
Argentina-Mexico Top Trading Products in Q3 2024
Argentina Export Profile: What Does Argentina Sell to Mexico
- Top Commodity: HS Code 99 dominates with 50.52% share (113.27M).
- Demand Driver: Likely serving Mexico's consumer market, given the high share of a single category.
- Concentration: Extreme concentration in HS Code 99 (>50%), indicating reliance on one major export.
Argentina Import Profile: What Does Argentina Buy from Mexico
- Top Commodity: HS Code 87 (vehicles) leads with 31.57% share (105.29M).
- Dependency Nature: Critical technology dependency, as machinery (HS 84, 85) and vehicles (HS 87) dominate imports.
Argentina - Mexico Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports consumer goods (HS 99) while importing high-value machinery and vehicles from Mexico.
- Value Chain Position: Mexico holds the higher value-add position, supplying advanced industrial goods, while Argentina's exports are less diversified.
Import Analysis by Product: Mexico to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 105.29M | 31.57% |
| 84 | 52.07M | 15.61% |
| 85 | 49.20M | 14.75% |
| 90 | 28.85M | 8.65% |
| 73 | 18.43M | 5.53% |
| 39 | 10.98M | 3.29% |
| 33 | 9.37M | 2.81% |
| 30 | 7.52M | 2.25% |
| 94 | 7.34M | 2.20% |
| 82 | 6.01M | 1.80% |
Export Analysis by Product: Argentina to Mexico (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 113.27M | 50.52% |
| 15 | 22.01M | 9.82% |
| 07 | 16.83M | 7.51% |
| 02 | 14.20M | 6.33% |
| 08 | 11.54M | 5.15% |
| 30 | 9.57M | 4.27% |
| 22 | 8.87M | 3.96% |
| 84 | 7.38M | 3.29% |
| 29 | 3.55M | 1.58% |
| 12 | 3.33M | 1.48% |
Check Detailed Argentina-Mexico Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade with Mexico is likely to remain volatile in Q4 2024, with exports facing continued pressure from erratic demand and imports struggling to stabilize after sharp contractions. The persistent trade deficit signals structural imbalances, as Argentina’s over-reliance on a single export category (HS 99) leaves it vulnerable to market shifts, while Mexico’s dominance in high-value industrial goods (HS 84, 85, 87) reinforces its competitive edge. Without diversification or supply chain adjustments, Argentina’s trade position with Mexico may weaken further.
Strategic Moves
- Diversify Export Basket: Argentine exporters must reduce dependence on HS 99 by identifying secondary high-demand products in Mexico’s consumer or industrial markets to mitigate concentration risk.
- Secure Long-Term Tech Supply Contracts: Given Mexico’s strength in vehicles and machinery, Argentine importers should lock in favorable terms with Mexican suppliers to stabilize costs amid volatile demand.
- Monitor Trade Policy Shifts: Both nations may adjust tariffs or non-tariff barriers to address imbalances; traders should stay ahead of regulatory changes to avoid disruptions.
Frequently Asked Questions
How did Argentina - Mexico trade perform in 2024 Q3?
Argentina exported $224.23M to Mexico, with mixed YoY growth, while imports totaled $333.52M, showing consistent YoY declines.
What are the top exports from Argentina to Mexico?
HS Code 99 dominates Argentina's exports to Mexico, accounting for 50.52% ($113.27M) of total shipments.
What does Argentina import from Mexico?
HS Code 87 (vehicles) is the top import, representing 31.57% ($105.29M), followed by machinery (HS 84, 85).
What is the trade balance between Argentina and Mexico?
Argentina recorded a trade deficit of $109.29M, with imports exceeding exports in Q3 2024.
Argentina - Mexico Trade 2024 Q2: Widening Deficit
Argentina's trade deficit with Mexico hit $131.51M in Q2 2024, driven by tech imports. Explore Argentina Mexico trade trends & top trading products via yTrade data.
Argentina - Mexico Trade 2024 Q4: Deficit Widens
Argentina Mexico trade trend shows a $245.88M deficit in Q4 2024, with Mexico dominating in vehicles and machinery. Explore the data on yTrade.
