Argentina - Thailand Trade 2023 Q1: Deficit & Resource-Tech Dynamic
Key Market Takeaways: Argentina - Thailand Trade
The bilateral trade relationship between Argentina and Thailand is marked by volatility and a heavy deficit in Q1 2023.
- Economic Pulse: Argentina faces a $362.32M trade deficit with Thailand, with imports ($434.14M) dwarfing exports ($71.82M). Volatility spikes in both directions, but no clear growth trend emerges.
- Exchange Structure: Argentina - Thailand trade statistics reveal a resource-for-tech dynamic—Argentina supplies fish/seafood (55.97% of exports) while importing machinery (36.75% of imports).
- Strategic Interdependence: The partnership is lopsided; Thailand holds the high-value position, while Argentina remains a niche commodity supplier.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Thailand Trade Trend in Q1 2023
Argentina Export Performance: Shipments to Thailand
- Total Volume: $71.82M in Q1 2023.
- Growth Trend & Context:
- YoY volatility: Sharp declines in January (-7.52%) and March (-21.6%) offset by a 29.85% surge in February. No news to contextualize swings.
- Key Volatility: February saw a 65.2% MoM spike, while March dropped 39.54% MoM.
Argentina Import Performance: Sourcing from Thailand
- Total Volume: $434.14M in Q1 2023.
- Growth Trend & Context:
- Mixed YoY performance: February grew 5.7%, but January (-4.94%) and March (-1.67%) contracted.
- Key Volatility: March peaked at $164.27M (26.43% MoM growth), while February dipped 7.15% MoM.
Argentina - Thailand Trade Balance & Market Dynamics
- Net Position: Trade deficit of $362.32M (Imports exceeded exports by 6x).
- Relationship Status: Heavy reliance on Thai imports, with exports playing a marginal role.
Argentina Import Trend from Thailand 2023 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 139.94M | 27.77% | -4.94% |
| Feb | 129.93M | -7.15% | 5.7% |
| Mar | 164.27M | 26.43% | -1.67% |
| Total | 434.14M | - | - |
Argentina Export Trend to Thailand 2023 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 19.67M | -52.27% | -7.52% |
| Feb | 32.50M | 65.2% | 29.85% |
| Mar | 19.65M | -39.54% | -21.6% |
| Total | 71.82M | - | - |
Get Historical Argentina Thailand Trade Records
Argentina-Thailand Top Trading Products in Q1 2023
Argentina Export Profile: What Does Argentina Sell to Thailand
- Top Commodity: Rank #1 export is HS 03 (Fish and seafood) at 55.97% of total exports to Thailand.
- Demand Driver: Thailand uses these for industrial processing, likely in food manufacturing or re-export.
- Concentration: Trade is highly concentrated, with fish/seafood alone accounting for over half of exports.
Argentina Import Profile: What Does Argentina Buy from Thailand
- Top Commodity: Rank #1 import is HS 84 (Nuclear reactors, machinery) at 36.75% of total imports from Thailand.
- Dependency Nature: Critical technology dependency, as machinery imports dominate Argentina's purchases.
Argentina - Thailand Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (fish/seafood) while importing high-value machinery from Thailand.
- Value Chain Position: Thailand holds the higher value-add position, supplying complex machinery, while Argentina provides primary commodities.
Import Analysis by Product: Thailand to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 159.53M | 36.75% |
| 87 | 123.19M | 28.38% |
| 85 | 54.92M | 12.65% |
| 40 | 22.16M | 5.10% |
| 73 | 18.94M | 4.36% |
| 39 | 13.87M | 3.19% |
| 90 | 10.29M | 2.37% |
| 94 | 8.56M | 1.97% |
| 29 | 7.00M | 1.61% |
| 83 | 4.28M | 0.99% |
Export Analysis by Product: Argentina to Thailand (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 03 | 40.19M | 55.97% |
| 99 | 23.47M | 32.68% |
| 02 | 4.39M | 6.11% |
| 16 | 1.80M | 2.50% |
| 22 | 405.09K | 0.56% |
| 07 | 353.06K | 0.49% |
| 44 | 327.01K | 0.46% |
| 05 | 324.15K | 0.45% |
| 12 | 271.98K | 0.38% |
| 10 | 209.99K | 0.29% |
Check Detailed Argentina-Thailand Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Thailand Trade
The Argentina-Thailand trade relationship is likely to remain volatile in the near term, with Argentina’s export performance showing erratic swings and its heavy reliance on Thai machinery imports sustaining the trade deficit. However, Thailand’s consistent demand for Argentine seafood (HS 03) suggests a stable export niche, while Argentina’s dependence on Thai machinery (HS 84) leaves it vulnerable to supply chain disruptions. Without diversification or policy intervention, the deficit will persist, but targeted trade agreements could stabilize flows.
Strategic Moves for Traders & Policymakers
- Lock in Long-Term Seafood Contracts: Argentine exporters should secure multi-year deals with Thai processors to mitigate price volatility and ensure steady revenue.
- Diversify Import Sources for Machinery: Argentine manufacturers must reduce over-reliance on Thai machinery by exploring alternative suppliers in Southeast Asia or Europe.
- Push for Bilateral Trade Incentives: Argentina’s government should negotiate tariff reductions or investment guarantees to boost high-value exports and rebalance the trade deficit.
Frequently Asked Questions
How did Argentina - Thailand trade perform in 2023 Q1?
Argentina's exports to Thailand totaled $71.82M, with volatile growth, while imports from Thailand reached $434.14M, showing mixed performance.
What are the top exports from Argentina to Thailand?
The top export is HS 03 (Fish and seafood), accounting for 55.97% of Argentina's total exports to Thailand.
What does Argentina import from Thailand?
The top import is HS 84 (Nuclear reactors, machinery), making up 36.75% of Argentina's total imports from Thailand.
What is the trade balance between Argentina and Thailand?
Argentina recorded a trade deficit of $362.32M, with imports exceeding exports by 6x.
Argentina - Thailand Trade 2023 Whole Year: Resource-Tech Imbalance
Argentina's $1.53B trade deficit with Thailand highlights a resource-for-tech imbalance, with yTrade data showing raw exports versus machinery imports in 2023.
Argentina - Thailand Trade 2023 Q2: Widening Deficit
Argentina's trade deficit with Thailand hit $378.53M in Q2 2023, driven by high-tech machinery imports. Explore Argentina-Thailand trade trends & top trading products via yTrade data.
