Argentina - Spain Trade 2023 Whole Year: Resource-for-Tech Dynamic
Key Market Takeaways: Argentina - Spain Trade
The bilateral trade relationship between Argentina and Spain shows growth with high volatility in 2023.
- Economic Pulse: Argentina holds a $180M trade surplus ($1.44B exports vs. $1.26B imports), but monthly swings reveal erratic trade flows.
- Exchange Structure: Argentina - Spain trade statistics highlight a resource-for-tech dynamic—Argentina ships seafood and agricultural goods (HS 03, 15) while importing machinery and pharmaceuticals (HS 84, 85).
- Strategic Interdependence: Complementary but imbalanced—Spain captures higher value-add in manufacturing, while Argentina relies on primary exports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Spain Trade Trend in Whole Year 2023
Argentina Export Performance: Shipments to Spain
- Total Volume: $1.44B in 2023.
- Growth Trend & Context:
- Volatile YoY performance, ranging from -55.81% (Nov) to +53.69% (Mar).
- No specific trade news to explain fluctuations.
- Key Volatility:
- March saw a 149.41% MoM surge, while October dropped 43.52% MoM.
Argentina Import Performance: Sourcing from Spain
- Total Volume: $1.26B in 2023.
- Growth Trend & Context:
- Mixed YoY trends, with September recording a -40.77% plunge and May a +23.26% jump.
- Key Volatility:
- August peaked with a 44.72% MoM rise, while September fell 29.52% MoM.
Argentina - Spain Trade Balance & Market Dynamics
- Net Position: Argentina holds a trade surplus of $180M ($1.44B exports vs. $1.26B imports).
- Relationship Status: Argentina maintains a net exporter role, though trade flows are uneven month-to-month.
Argentina Import Trend from Spain 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 93.51M | 36.82% | 29.82% |
| Feb | 107.73M | 15.21% | 0.03% |
| Mar | 124.89M | 15.92% | 18.0% |
| Apr | 103.36M | -17.24% | -18.24% |
| May | 102.90M | -0.44% | 23.26% |
| Jun | 116.71M | 13.42% | 18.77% |
| Jul | 99.68M | -14.59% | -10.74% |
| Aug | 144.26M | 44.72% | 15.47% |
| Sep | 101.67M | -29.52% | -40.77% |
| Oct | 84.91M | -16.48% | 1.45% |
| Nov | 106.68M | 25.64% | 0.33% |
| Dec | 74.79M | -29.9% | 9.43% |
| Total | 1.26B | - | - |
Argentina Export Trend to Spain 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 116.09M | 88.45% | 18.8% |
| Feb | 60.78M | -47.64% | -42.16% |
| Mar | 151.59M | 149.41% | 53.69% |
| Apr | 126.84M | -16.32% | -24.05% |
| May | 116.77M | -7.94% | -43.96% |
| Jun | 152.95M | 30.98% | 47.98% |
| Jul | 125.95M | -17.65% | -48.93% |
| Aug | 136.68M | 8.52% | -19.72% |
| Sep | 185.69M | 35.86% | 5.89% |
| Oct | 104.88M | -43.52% | -13.4% |
| Nov | 79.52M | -24.18% | -55.81% |
| Dec | 83.36M | 4.82% | 35.32% |
| Total | 1.44B | - | - |
Get Historical Argentina Spain Trade Records
Argentina-Spain Top Trading Products in Whole Year 2023
Argentina Export Profile: What Does Argentina Sell to Spain
- Top Commodity: HS Code 99 (41.84% share) dominates exports, likely representing unclassified or special category goods.
- Demand Driver: HS Code 03 (25.81%) suggests Spain sources seafood or other marine products from Argentina for its consumer market. Agricultural goods (HS 15, 23) indicate industrial processing needs.
- Concentration: The top 3 exports (HS 99, 03, 15) account for 78.7% of total exports, showing extreme reliance on a narrow basket.
Argentina Import Profile: What Does Argentina Buy from Spain
- Top Commodity: HS Code 84 (20.16% share), covering machinery like nuclear reactors and boilers, is the leading import.
- Dependency Nature: High-tech imports (HS 84, 85, 30) reveal Argentina’s reliance on Spanish industrial equipment and pharmaceuticals. Energy-related HS 27 (9.78%) hints at fuel imports.
Argentina - Spain Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (seafood, agricultural goods) while importing machinery and tech from Spain.
- Value Chain Position: Spain holds the higher value-add position, supplying advanced manufactured goods (HS 84, 85) against Argentina’s primary commodities (HS 03, 15).
Import Analysis by Product: Spain to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 254.25M | 20.16% |
| 87 | 139.33M | 11.05% |
| 27 | 123.30M | 9.78% |
| 30 | 88.54M | 7.02% |
| 85 | 63.07M | 5.00% |
| 39 | 53.49M | 4.24% |
| 29 | 48.44M | 3.84% |
| 33 | 40.24M | 3.19% |
| 38 | 36.63M | 2.90% |
| 89 | 32.55M | 2.58% |
Export Analysis by Product: Argentina to Spain (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 602.98M | 41.84% |
| 03 | 371.95M | 25.81% |
| 15 | 159.29M | 11.05% |
| 23 | 136.33M | 9.46% |
| 07 | 34.63M | 2.40% |
| 12 | 32.87M | 2.28% |
| 08 | 30.48M | 2.12% |
| 10 | 27.63M | 1.92% |
| 02 | 13.19M | 0.92% |
| 04 | 12.18M | 0.85% |
Check Detailed Argentina-Spain Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina - Spain Trade
Argentina’s trade surplus with Spain is likely to persist in 2024, driven by sustained demand for its primary commodities (HS 03, 15) and Spain’s reliance on Argentine seafood and agricultural goods. However, the extreme volatility in monthly trade flows—highlighted by erratic YoY swings—suggests exporters and importers must brace for unpredictable short-term disruptions. The structural imbalance in trade composition (raw materials vs. high-tech imports) reinforces Spain’s upper hand in value chains, but Argentina can capitalize on its resource advantage by stabilizing supply agreements. Without diversification, Argentina’s export concentration risks exposure to price shocks or demand shifts in key sectors.
Strategic Moves for Traders & Policymakers
- Lock in Long-Term Contracts: Argentine exporters of seafood (HS 03) and agricultural goods (HS 15) should secure multi-year deals with Spanish buyers to mitigate monthly volatility and ensure stable revenue streams.
- Diversify Export Markets: Reduce dependence on HS Code 99 (unclassified goods) by expanding into other EU markets for processed agricultural products, leveraging Spain as a gateway.
- Invest in Tech Upgrades: Argentine importers of Spanish machinery (HS 84) should prioritize joint ventures or technology transfers to reduce long-term dependency and boost domestic manufacturing capabilities.
Frequently Asked Questions
How did Argentina - Spain trade perform in 2023 Whole Year?
Argentina exported $1.44B to Spain and imported $1.26B, with volatile monthly growth but an overall trade surplus of $180M.
What are the top exports from Argentina to Spain?
The top exports are unclassified/special category goods (HS 99), seafood/marine products (HS 03), and agricultural goods (HS 15), accounting for 78.7% of total exports.
What does Argentina import from Spain?
Argentina primarily imports machinery (HS 84), high-tech equipment (HS 85), pharmaceuticals (HS 30), and energy-related products (HS 27) from Spain.
What is the trade balance between Argentina and Spain?
Argentina holds a trade surplus of $180M with Spain, maintaining its role as a net exporter despite uneven monthly trade flows.
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