Argentina - Thailand Trade 2024 Q1: Deficit & Tech Imbalance
Key Market Takeaways: Argentina - Thailand Trade
The bilateral trade relationship between Argentina and Thailand is marked by volatility and a heavy deficit for Argentina in Q1 2024.
- Economic Pulse: Argentina posted a $291.91M trade deficit with Thailand, driven by $364.18M in imports (mostly declining YoY) versus $72.27M in exports (mixed YoY performance).
- Exchange Structure: Argentina - Thailand trade statistics reveal a resource-for-tech imbalance—Argentina ships niche/unclassified goods (HS Code 99, 54.59% share) and agricultural products, while importing Thai vehicles (HS Code 87) and machinery (HS Code 84).
- Strategic Interdependence: Thailand holds the higher value-add position, supplying critical industrial inputs, while Argentina’s exports remain concentrated and less processed.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Thailand Trade Trend in Q1 2024
Argentina Export Performance: Shipments to Thailand
- Total Volume: $72.27M in Q1 2024.
- Growth Trend & Context: Mixed YoY performance—January (-13.23%) and February (-0.3%) declined, but March rebounded (+16.07%). No news to contextualize shifts.
- Key Volatility: February saw an 89.81% MoM surge, followed by a sharp -29.61% drop in March.
Argentina Import Performance: Sourcing from Thailand
- Total Volume: $364.18M in Q1 2024.
- Growth Trend & Context: YoY declines persisted in January (-30.36%) and March (-16.91%), with February flat (+0.23%). No news to explain trends.
- Key Volatility: January imports plummeted -23.64% MoM, while February spiked +33.64%.
Argentina - Thailand Trade Balance & Market Dynamics
- Net Position: Argentina ran a trade deficit of -$291.91M (Imports exceeded exports).
- Relationship Status: Heavy reliance on Thai imports, with exports failing to offset demand.
Argentina Import Trend from Thailand 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 97.45M | -23.64% | -30.36% |
| Feb | 130.23M | 33.64% | 0.23% |
| Mar | 136.49M | 4.81% | -16.91% |
| Total | 364.18M | - | - |
Argentina Export Trend to Thailand 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 17.07M | -58.56% | -13.23% |
| Feb | 32.40M | 89.81% | -0.3% |
| Mar | 22.80M | -29.61% | 16.07% |
| Total | 72.27M | - | - |
Get Historical Argentina Thailand Trade Records
Argentina-Thailand Top Trading Products in Q1 2024
Argentina Export Profile: What Does Argentina Sell to Thailand
- Top Commodity: Rank #1 export is HS Code 99 (54.59% share). This likely represents unclassified or special category goods, indicating a niche or specific trade arrangement.
- Demand Driver: Thailand's imports from Argentina are dominated by a single category (HS Code 99 at 54.59%), suggesting a specialized industrial or regulatory need rather than broad consumer demand.
- Concentration: Highly concentrated, with the top two exports (HS Code 99 and 03) making up 86.3% of total exports to Thailand.
Argentina Import Profile: What Does Argentina Buy from Thailand
- Top Commodity: Rank #1 import is HS Code 87 (34.00% share), representing vehicles and automotive parts.
- Dependency Nature: Argentina relies on Thailand for automotive components (HS Code 87) and machinery (HS Code 84), indicating a critical technology and industrial supply chain dependency.
Argentina - Thailand Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports niche/unclassified goods (HS Code 99) and agricultural products (HS Code 03) to Thailand, while importing high-value industrial goods like vehicles and machinery.
- Value Chain Position: Thailand holds the higher value-add position, supplying advanced manufacturing goods (HS Codes 87, 84), while Argentina's exports are less processed (agricultural and unclassified goods).
Import Analysis by Product: Thailand to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 123.83M | 34.00% |
| 84 | 118.57M | 32.56% |
| 85 | 38.60M | 10.60% |
| 40 | 16.47M | 4.52% |
| 73 | 14.10M | 3.87% |
| 39 | 11.51M | 3.16% |
| 90 | 9.65M | 2.65% |
| 94 | 8.21M | 2.25% |
| 16 | 7.23M | 1.99% |
| 83 | 3.51M | 0.96% |
Export Analysis by Product: Argentina to Thailand (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 39.45M | 54.59% |
| 03 | 22.92M | 31.71% |
| 02 | 4.54M | 6.28% |
| 16 | 3.34M | 4.61% |
| 52 | 1.19M | 1.64% |
| 44 | 442.69K | 0.61% |
| 07 | 253.47K | 0.35% |
| 22 | 145.96K | 0.20% |
Check Detailed Argentina-Thailand Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Thailand Trade
Argentina’s trade deficit with Thailand is likely to persist in Q2 2024, driven by continued reliance on Thai automotive and machinery imports (HS Codes 87, 84) and stagnant export growth outside niche categories (HS Code 99). The rebound in March exports (+16.07% YoY) suggests potential for recovery in unclassified goods, but volatility in monthly trade flows—especially the sharp February surge and March drop—indicates underlying instability. Without structural shifts, Argentina’s trade imbalance with Thailand will remain a pressure point, requiring proactive measures to diversify exports and reduce import dependency.
Strategic Recommendations for Traders & Policymakers
- Diversify Export Markets for HS Code 99 Goods: Argentina’s heavy reliance on Thailand for unclassified exports (54.59% share) is risky. Exporters should identify secondary markets in Southeast Asia to mitigate overexposure to Thai demand fluctuations.
- Secure Long-Term Contracts for Critical Imports: Argentine manufacturers dependent on Thai automotive parts (HS Code 87) must lock in supply agreements to hedge against price volatility and potential disruptions in the industrial supply chain.
- Invest in Export Promotion for Agricultural Products: With HS Code 03 (likely agricultural goods) accounting for 31.71% of exports, Argentina should prioritize trade missions and tariff negotiations to expand Thailand’s appetite for processed agro-exports, moving beyond raw commodities.
Frequently Asked Questions
How did Argentina - Thailand trade perform in 2024 Q1?
Argentina's exports to Thailand totaled $72.27M in Q1 2024, with mixed YoY growth (-13.23% in January, +16.07% in March). Imports from Thailand reached $364.18M, showing YoY declines in January (-30.36%) and March (-16.91%).
What are the top exports from Argentina to Thailand?
Argentina's top exports to Thailand are HS Code 99 (unclassified/special category goods, 54.59% share) and HS Code 03 (agricultural products), together accounting for 86.3% of total exports.
What does Argentina import from Thailand?
Argentina primarily imports vehicles and automotive parts (HS Code 87, 34.00% share) and machinery (HS Code 84) from Thailand, reflecting a dependency on industrial and technology goods.
What is the trade balance between Argentina and Thailand?
Argentina recorded a trade deficit of -$291.91M with Thailand in Q1 2024, as imports significantly exceeded exports. The deficit highlights heavy reliance on Thai industrial goods.
Argentina - Thailand Trade 2024 Whole Year: Resource-for-Tech Imbalance
Argentina's $1.43B trade deficit with Thailand highlights a resource-for-tech imbalance. Explore Argentina Thailand trade trends and top trading products with yTrade data.
Argentina - Thailand Trade 2024 Q2: Deficit Deepens
Argentina's trade deficit with Thailand hit -$308.49M in Q2 2024, driven by raw material exports vs. Thailand's tech dominance. Explore Argentina Thailand trade trends & top trading products via yTrade.
