Argentina - Thailand Trade 2023 Q2: Widening Deficit
Key Market Takeaways: Argentina - Thailand Trade
The bilateral trade relationship between Argentina and Thailand is marked by a widening deficit and volatile demand shifts in Q2 2023.
- Deficit-Driven Trade: Argentina posted a $378.53M trade deficit, with imports ($434.02M) dwarfing exports ($55.49M). YoY declines in exports (-48.98% in June) outpaced import volatility (-35.08% same month).
- Resource-for-Tech Exchange: Argentina - Thailand trade statistics reveal a lopsided structure: unclassified goods (HS 99, 55.36% of exports) and seafood (HS 03) flow to Thailand, while high-tech machinery (HS 84, 34.73% of imports) dominates inbound shipments.
- Asymmetric Interdependence: Thailand holds the strategic advantage, supplying critical industrial inputs, while Argentina’s export basket lacks diversification or value-add.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Thailand Trade Trend in Q2 2023
Argentina Export Performance: Shipments to Thailand
- Total Volume: $55.49M in Q2 2023.
- Growth Trend & Context:
- YoY declines persisted across all months, with May (-55.53%) and June (-48.98%) showing severe contractions.
- No mitigating news context was provided to explain the downturn.
- Key Volatility: May saw a 22.44% MoM spike, but June reversed sharply with a -24.24% drop.
Argentina Import Performance: Sourcing from Thailand
- Total Volume: $434.02M in Q2 2023.
- Growth Trend & Context:
- Mixed YoY performance: April (+9.91%) and May (+7.02%) grew, but June collapsed (-35.08%).
- Key Volatility: June imports plummeted -33.98% MoM, marking the lowest monthly value ($113.37M).
Argentina - Thailand Trade Balance & Market Dynamics
- Net Position: Argentina ran a trade deficit of $378.53M (Imports $434.02M > Exports $55.49M).
- Relationship Status: Heavy reliance on Thai imports, with exports failing to offset the imbalance.
Argentina Import Trend from Thailand 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 148.94M | -9.34% | 9.91% |
| May | 171.71M | 15.29% | 7.02% |
| Jun | 113.37M | -33.98% | -35.08% |
| Total | 434.02M | - | - |
Argentina Export Trend to Thailand 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 17.60M | -10.4% | -33.17% |
| May | 21.55M | 22.44% | -55.53% |
| Jun | 16.33M | -24.24% | -48.98% |
| Total | 55.49M | - | - |
Get Historical Argentina Thailand Trade Records
Argentina-Thailand Top Trading Products in Q2 2023
Argentina Export Profile: What Does Argentina Sell to Thailand
- Top Commodity: HS Code 99 (55.36% share). This likely represents unclassified or special category goods, indicating a dominant but ambiguous export.
- Demand Driver: HS Code 03 (28.63% share) suggests Thailand imports Argentine seafood or meat (e.g., fish, shrimp), likely for food processing or consumption.
- Concentration: Extreme—HS Code 99 alone accounts for >50% of exports, signaling heavy reliance on a single category.
Argentina Import Profile: What Does Argentina Buy from Thailand
- Top Commodity: HS Code 84 (34.73% share)—industrial machinery (e.g., boilers, nuclear reactors), critical for Argentina’s manufacturing or energy sectors.
- Dependency Nature: High-tech machinery (HS Codes 84, 85, 90) dominates imports (49.77% combined), reflecting critical technology dependency for industrial capacity.
Argentina - Thailand Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Argentina exports raw materials (HS 03, 02) and unclassified goods (HS 99) while importing machinery and tech (HS 84, 85).
- Value Chain Position: Thailand holds the higher value-add position, supplying complex machinery, while Argentina’s exports skew toward primary goods.
Import Analysis by Product: Thailand to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 150.73M | 34.73% |
| 87 | 128.05M | 29.50% |
| 85 | 52.62M | 12.12% |
| 40 | 21.41M | 4.93% |
| 73 | 20.47M | 4.72% |
| 39 | 15.79M | 3.64% |
| 90 | 12.68M | 2.92% |
| 94 | 10.12M | 2.33% |
| 83 | 4.33M | 1.00% |
| 16 | 3.98M | 0.92% |
Export Analysis by Product: Argentina to Thailand (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 30.72M | 55.36% |
| 03 | 15.89M | 28.63% |
| 02 | 4.15M | 7.48% |
| 16 | 2.13M | 3.83% |
| 07 | 925.22K | 1.67% |
| 05 | 728.86K | 1.31% |
| 12 | 362.27K | 0.65% |
| 41 | 251.38K | 0.45% |
| 22 | 172.57K | 0.31% |
| 44 | 160.96K | 0.29% |
Check Detailed Argentina-Thailand Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Argentina-Thailand trade relationship faces continued volatility in the near term, with Argentina’s export slump to Thailand likely persisting due to weak demand and structural reliance on unclassified goods (HS 99). The sharp decline in June imports from Thailand (-35.08% YoY) suggests a cooling in Argentina’s appetite for high-tech machinery, possibly due to tightening fiscal conditions or inventory adjustments. However, Thailand’s dominance in critical industrial inputs (HS 84, 85) ensures Argentina’s import dependency will remain entrenched unless domestic alternatives emerge. Traders should brace for erratic swings, particularly in machinery imports, while seafood (HS 03) exports may stabilize if Thailand’s food processing demand holds.
Strategic Moves
- Diversify Export Composition: Argentine exporters must reduce reliance on HS 99 by expanding value-added seafood (HS 03) shipments or exploring new categories like processed foods to capture higher margins in Thailand’s consumer markets.
- Lock in Machinery Supply Contracts: Importers should secure long-term agreements with Thai machinery suppliers (HS 84) to mitigate price volatility and ensure stable access to critical industrial inputs amid potential supply chain disruptions.
- Leverage Trade Diplomacy: Argentina’s government must prioritize bilateral talks to address the $378.53M trade deficit, negotiating tariff reductions or investment incentives to boost exports and rebalance the resource-for-tech exchange model.
Frequently Asked Questions
How did Argentina - Thailand trade perform in 2023 Q2?
Argentina's exports to Thailand fell sharply YoY, totaling $55.49M, while imports from Thailand reached $434.02M, resulting in a trade deficit of $378.53M.
What are the top exports from Argentina to Thailand?
Argentina primarily exports unclassified or special category goods (HS Code 99, 55.36% share) and seafood or meat (HS Code 03, 28.63% share) to Thailand.
What does Argentina import from Thailand?
Argentina's top imports from Thailand include industrial machinery (HS Code 84, 34.73% share) and high-tech equipment (HS Codes 85, 90), reflecting a reliance on advanced technology.
What is the trade balance between Argentina and Thailand?
Argentina recorded a trade deficit of $378.53M with Thailand in Q2 2023, driven by heavy reliance on Thai imports and weak export performance.
Argentina - Thailand Trade 2023 Q1: Deficit & Resource-Tech Dynamic
Argentina's $362.32M trade deficit with Thailand in Q1 2023 highlights a resource-for-tech exchange. Fish/seafood dominate exports, while machinery leads imports. Explore Argentina Thailand trade trends on yTrade.
Argentina - Thailand Trade 2023 Q3: Widening Deficit
Argentina's trade deficit with Thailand hit $423.45M in Q3 2023, driven by machinery imports. Explore Argentina-Thailand trade trends and top trading products via yTrade data.
