Argentina - Spain Trade 2023 Q3: Surplus & Tech Exchange

Key Market Takeaways: Argentina - Spain Trade

The bilateral trade relationship between Argentina and Spain shows growth with high volatility in Q3 2023.

• Argentina holds a $102.71M trade surplus, exporting $448.32M (mixed YoY performance) while importing $345.61M (volatile demand for Spanish goods).
• Argentina - Spain trade statistics reveal a resource-for-tech exchange: Argentina supplies raw materials (seafood, fats, crops) and Spain exports machinery, pharmaceuticals, and industrial inputs.
• Complementary but asymmetric: Spain dominates high-value tech and manufacturing, while Argentina remains a key commodity supplier.

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

Argentina-Spain Trade Trend in Q3 2023

Argentina Export Performance: Shipments to Spain

• Total Volume: $448.32M in Q3 2023.
• Growth Trend & Context:
  • Mixed YoY performance: July (-48.93%) and August (-19.72%) saw sharp declines, but September rebounded (+5.89%).
  • No relevant trade news to explain volatility.
• Key Volatility: September surged (+35.86% MoM), offsetting earlier weakness.

Argentina Import Performance: Sourcing from Spain

• Total Volume: $345.61M in Q3 2023.
• Growth Trend & Context:
  • YoY contractions in July (-10.74%) and September (-40.77%), but August grew (+15.47%).
• Key Volatility: August spiked (+44.72% MoM), while September plummeted (-29.52%).

Argentina - Spain Trade Balance & Market Dynamics

• Net Position: Trade surplus of $102.71M (Exports $448.32M > Imports $345.61M).
• Relationship Status: Argentina maintains a net exporter role, though import volatility suggests uneven demand for Spanish goods.

Argentina Import Trend from Spain 2023 Q3 (Source: yTrade)**

Argentina Export Trend to Spain 2023 Q3 (Source: yTrade)**

Get Historical Argentina Spain Trade Records

Argentina-Spain Top Trading Products in Q3 2023

Argentina Export Profile: What Does Argentina Sell to Spain

• Top Commodity: Rank #1 export is HS Code 99 (34.61% share), followed closely by HS Code 03 (34.02%). These likely represent unclassified goods and seafood, respectively.
• Demand Driver: Spain imports raw materials (HS 03: seafood, HS 15: fats/oils) for food processing and industrial use. Agricultural products (HS 08, 10, 12) serve Spain’s consumer market.
• Concentration: Highly concentrated—HS 99 and 03 alone account for 68.63% of exports.

Argentina Import Profile: What Does Argentina Buy from Spain

• Top Commodity: Rank #1 import is HS Code 84 (21.31% share), representing machinery (e.g., industrial equipment).
• Dependency Nature: Dominated by high-tech (HS 84, 85) and pharmaceuticals (HS 30), indicating critical technology dependency. Industrial inputs (HS 39, 72) suggest supply chain reliance.

Argentina - Spain Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (seafood, fats, crops) to Spain, while importing machinery, pharmaceuticals, and industrial goods.
• Value Chain Position: Spain holds the higher value-add position, supplying advanced machinery and tech (HS 84, 85, 30), while Argentina provides low-margin commodities.

Import Analysis by Product: Spain to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to Spain (Source: yTrade)

Check Detailed Argentina-Spain Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Argentina’s trade surplus with Spain is expected to hold steady in Q4 2023, though volatility in commodity exports and uneven demand for Spanish machinery may persist. The rebound in September exports suggests resilience in raw material shipments, but import fluctuations—particularly the sharp August spike and September drop—indicate unstable Spanish industrial input demand. Given Spain’s reliance on Argentine seafood and agricultural goods, exporters should prepare for seasonal demand shifts, while importers of Spanish tech and machinery must brace for supply chain disruptions. The Argentina-Spain trade forecast hinges on commodity price stability and Spain’s industrial activity.

Strategic Moves

• Lock in Commodity Contracts: Argentine exporters of HS 03 (seafood) and HS 15 (fats/oils) should secure long-term agreements with Spanish buyers to mitigate price swings and ensure consistent revenue.
• Diversify Tech Imports: Argentine manufacturers dependent on Spanish machinery (HS 84) and pharmaceuticals (HS 30) must scout alternative suppliers in the EU or Mercosur to reduce vulnerability to supply shocks.
• Monitor Agricultural Logistics: With HS 08 (fruit), HS 10 (cereals), and HS 12 (oilseeds) critical to Spain’s consumer market, Argentine agribusinesses must optimize shipping routes and storage to capitalize on peak demand periods.

Frequently Asked Questions

How did Argentina - Spain trade perform in 2023 Q3?

Argentina's exports to Spain totaled $448.32M, with mixed YoY growth (July/August declines, September rebound). Imports from Spain were $345.61M, showing YoY contractions in July and September but a spike in August.

What are the top exports from Argentina to Spain?

Argentina's top exports to Spain are unclassified goods (HS Code 99, 34.61%) and seafood (HS Code 03, 34.02%), accounting for 68.63% of total exports.

What does Argentina import from Spain?

Argentina primarily imports machinery (HS Code 84, 21.31%), high-tech goods (HS Code 85), pharmaceuticals (HS Code 30), and industrial inputs (HS Code 39, 72) from Spain.

What is the trade balance between Argentina and Spain?

Argentina recorded a trade surplus of $102.71M with Spain in Q3 2023, maintaining its net exporter role despite import volatility.