Argentina - South Korea Trade 2024 Q2: Volatile Growth

Key Market Takeaways: Argentina - South Korea Trade

The bilateral trade relationship between Argentina and South Korea is marked by volatile growth and a dominant export role for Argentina in Q2 2024.

• Argentina holds a $344.63M trade surplus, with exports ($451.76M) outpacing imports ($107.13M) by 4.2x—but both flows show sharp monthly swings.
• Trade statistics reveal a resource-for-tech exchange: Argentina supplies cereals (51.88% of exports) and unspecified goods, while importing South Korean electrical machinery (19.66% of imports) and industrial inputs.
• Complementary but uneven interdependence: Argentina’s commodity-driven exports meet South Korea’s demand for food security, while relying on its advanced tech for critical manufacturing needs.

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

Argentina-South Korea Trade Trend in Q2 2024

Argentina Export Performance: Shipments to South Korea

• Total Volume: $451.76M in Q2 2024.
• Growth Trend & Context:
  • Volatile YoY performance: April saw a staggering 721.16% surge, but June dropped 28.44%.
  • No specific trade news to explain the extreme swings.
• Key Volatility: April’s exports spiked 123.47% MoM, while June plummeted 57.59%.

Argentina Import Performance: Sourcing from South Korea

• Total Volume: $107.13M in Q2 2024.
• Growth Trend & Context:
  • Steep YoY declines: May and June imports halved (-53.92% and -54.69%, respectively).
• Key Volatility: May imports jumped 16.95% MoM, but June crashed 45.33%.

Argentina - South Korea Trade Balance & Market Dynamics

• Net Position: Argentina holds a $344.63M trade surplus with South Korea.
• Relationship Status: Dominant exporter role, with exports exceeding imports by 4.2x. Volatility in both flows suggests uneven demand or supply shocks.

Argentina Import Trend from South Korea 2024 Q2 (Source: yTrade)**

Argentina Export Trend to South Korea 2024 Q2 (Source: yTrade)**

Get Historical Argentina South Korea Trade Records

Argentina-South Korea Top Trading Products in Q2 2024

Argentina Export Profile: What Does Argentina Sell to South Korea

• Top Commodity: Rank #1 export is HS Code 10 (Cereals), accounting for 51.88% of total exports to South Korea.
• Demand Driver: South Korea uses these agricultural products for food security and industrial processing (e.g., food manufacturing, biofuels).
• Concentration: Highly concentrated—HS Code 10 alone dominates over half of exports, with HS Code 99 (Unspecified goods) adding another 34.17%.

Argentina Import Profile: What Does Argentina Buy from South Korea

• Top Commodity: Rank #1 import is HS Code 85 (Electrical machinery/equipment), making up 19.66% of imports from South Korea.
• Dependency Nature: Critical technology dependency—South Korea supplies high-tech goods (HS Codes 85, 84, 90) and industrial inputs (HS Codes 72, 39).

Argentina - South Korea Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Argentina exports raw materials (cereals, unspecified goods) while importing high-value machinery and manufactured goods.
• Value Chain Position: South Korea holds the higher value-add position, supplying advanced tech (electrical machinery, precision instruments) against Argentina’s commodity-heavy exports.

Import Analysis by Product: South Korea to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to South Korea (Source: yTrade)

Check Detailed Argentina-South Korea Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

The Argentina - South Korea trade relationship is poised for continued volatility in the near term, driven by erratic demand for Argentina’s cereal exports and South Korea’s shrinking imports of high-tech goods. While Argentina’s trade surplus remains robust, the extreme monthly swings in both directions suggest underlying supply chain disruptions or shifting buyer behavior. Over the next year, expect South Korea to prioritize stabilizing its industrial inputs, potentially leading to more negotiated, long-term cereal contracts. However, Argentina’s over-reliance on a single commodity (HS Code 10) leaves it vulnerable to price shocks, necessitating diversification.

Strategic Moves

• Lock in Cereal Contracts: Argentine exporters should secure multi-quarter agreements with South Korean buyers to mitigate wild price swings and ensure stable revenue streams.
• Diversify Export Mix: Argentina must reduce dependence on HS Code 10 by promoting secondary exports like meat (HS Code 02) or mineral fuels (HS Code 27) to balance trade risks.
• Monitor Tech Import Trends: South Korean shipments of electrical machinery (HS Code 85) are collapsing—Argentine importers should scout alternative suppliers in China or Southeast Asia to avoid shortages.

Frequently Asked Questions

How did Argentina - South Korea trade perform in 2024 Q2?

Argentina exported $451.76M to South Korea, with volatile growth (721.16% surge in April, 28.44% drop in June), while imports fell sharply (-53.92% YoY in May).

What are the top exports from Argentina to South Korea?

Cereals (HS Code 10) dominate, accounting for 51.88% of exports, followed by unspecified goods (HS Code 99) at 34.17%.

What does Argentina import from South Korea?

Electrical machinery/equipment (HS Code 85) is the top import (19.66%), alongside high-tech goods like precision instruments (HS Codes 84, 90).

What is the trade balance between Argentina and South Korea?

Argentina holds a $344.63M surplus, with exports exceeding imports by 4.2x, though both flows show significant volatility.