Argentina - Thailand Trade 2024 Q2: Deficit Deepens
Key Market Takeaways: Argentina - Thailand Trade
The bilateral trade relationship between Argentina and Thailand is marked by a widening trade deficit despite volatile export growth in Q2 2024.
- Deficit Deepens: Argentina’s trade deficit hit -$308.49M, with exports ($93.01M) dwarfed by imports ($401.50M). Export growth spiked in April (+121.56% YoY) but imports slumped (-20.29% YoY in May), signaling uneven demand.
- Resource-for-Tech Trade: Argentina - Thailand trade statistics reveal an asymmetric exchange: Argentina ships raw materials (fish, hides) and a dominant but opaque HS Code 99 (63.86% share), while Thailand supplies critical machinery (HS 84) and vehicles (HS 87), capturing 70% of imports.
- Industrial Dependency: Thailand’s high-value exports underscore Argentina’s reliance on foreign tech and manufacturing inputs, with limited value-add from Argentine exports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Thailand Trade Trend in Q2 2024
Argentina Export Performance: Shipments to Thailand
- Total Volume: $93.01M in Q2 2024.
- Growth Trend & Context:
- YoY growth was exceptionally strong in April (+121.56%) and June (+94.92%), offsetting a modest May (+2.9%).
- Key Volatility: April saw a 71.03% MoM surge, followed by a sharp -43.13% drop in May, then a 43.5% rebound in June.
Argentina Import Performance: Sourcing from Thailand
- Total Volume: $401.50M in Q2 2024.
- Growth Trend & Context:
- YoY growth turned negative in May (-20.29%) but stabilized in June (-1.22%), reflecting subdued demand.
- Key Volatility: Imports plummeted -18.18% MoM in June after a -10.34% decline in May, with April being the peak month ($152.65M).
Argentina - Thailand Trade Balance & Market Dynamics
- Net Position: Argentina ran a trade deficit of -$308.49M (Exports $93.01M vs. Imports $401.50M).
- Relationship Status: Heavy reliance on Thai imports, with exports failing to offset the deficit despite strong YoY growth in two months.
Argentina Import Trend from Thailand 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 152.65M | 11.84% | 2.49% |
| May | 136.87M | -10.34% | -20.29% |
| Jun | 111.98M | -18.18% | -1.22% |
| Total | 401.50M | - | - |
Argentina Export Trend to Thailand 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 39.00M | 71.03% | 121.56% |
| May | 22.18M | -43.13% | 2.9% |
| Jun | 31.83M | 43.5% | 94.92% |
| Total | 93.01M | - | - |
Get Historical Argentina Thailand Trade Records
Argentina-Thailand Top Trading Products in Q2 2024
Argentina Export Profile: What Does Argentina Sell to Thailand
- Top Commodity: HS Code 99 (63.86% share). This likely represents unclassified or special category goods, indicating a dominant but ambiguous export.
- Demand Driver: Thailand's imports from Argentina are heavily concentrated in HS Code 99, suggesting a niche or bundled trade flow (e.g., services, re-exports, or confidential items). Secondary exports like HS Code 03 (23.77%, likely fish/seafood) and HS Code 41 (8.20%, raw hides/skins) point to raw material supply for Thai processing industries.
- Concentration: Extreme—HS Code 99 alone accounts for nearly two-thirds of exports.
Argentina Import Profile: What Does Argentina Buy from Thailand
- Top Commodity: HS Code 87 (35.17% share, vehicles/parts) and HS Code 84 (34.27%, machinery/equipment). Combined, these two categories dominate 70% of imports.
- Dependency Nature: Critical technology dependency. Thailand supplies Argentina with industrial machinery (HS 84) and automotive components (HS 87), essential for manufacturing and infrastructure. Secondary imports like rubber (HS 40) and steel products (HS 73) further underscore industrial reliance.
Argentina - Thailand Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (fish, hides) and a dominant but opaque category (HS 99) to Thailand, while importing high-value machinery and vehicles. This reflects a classic asymmetric trade where Thailand holds the tech/industrial advantage.
- Value Chain Position: Thailand clearly occupies the higher value-add position, with exports dominated by complex manufactured goods (HS 84, 87). Argentina’s exports are either unclassified or low-processed commodities, indicating a weaker bargaining position.
Import Analysis by Product: Thailand to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 141.22M | 35.17% |
| 84 | 137.58M | 34.27% |
| 85 | 42.99M | 10.71% |
| 40 | 18.28M | 4.55% |
| 73 | 17.46M | 4.35% |
| 39 | 12.01M | 2.99% |
| 90 | 10.70M | 2.66% |
| 94 | 7.62M | 1.90% |
| 83 | 3.83M | 0.95% |
| 12 | 1.61M | 0.40% |
Export Analysis by Product: Argentina to Thailand (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 59.40M | 63.86% |
| 03 | 22.11M | 23.77% |
| 41 | 7.63M | 8.20% |
| 02 | 2.56M | 2.75% |
| 52 | 995.73K | 1.07% |
| 44 | 226.59K | 0.24% |
| 22 | 91.04K | 0.10% |
Check Detailed Argentina-Thailand Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Thailand Trade
The Argentina-Thailand trade relationship is poised for continued volatility in Q3 2024, with Argentina’s export growth likely to remain uneven despite strong YoY performance in key months. The persistent trade deficit (-$308.49M) underscores Argentina’s heavy reliance on Thai industrial imports (HS 84, 87), while its own exports remain overly concentrated in unclassified goods (HS 99) and raw materials. Without diversification, Thailand’s structural advantage in high-value manufacturing will keep Argentina in a weaker bargaining position. However, if Argentina capitalizes on niche demand for its commodities (e.g., seafood, hides), exports could stabilize—though not enough to close the deficit gap.
Strategic Moves for Traders & Policymakers
- Diversify Export Markets: Argentine exporters must reduce dependence on HS Code 99 by expanding processed goods (e.g., leather products from HS 41) and targeting Thailand’s food processing sector with higher-value agricultural exports.
- Secure Long-Term Tech Supply Contracts: Argentine importers should lock in pricing for critical machinery (HS 84) and vehicle parts (HS 87) to mitigate volatility, given Thailand’s dominance in these categories.
- Leverage Trade Diplomacy: Argentina’s government should negotiate tariff reductions or quotas for key raw material exports (HS 03, 41) to improve market access and rebalance the lopsided trade dynamic.
Frequently Asked Questions
How did Argentina - Thailand trade perform in 2024 Q2?
Argentina's exports to Thailand grew strongly in April (+121.56%) and June (+94.92%), totaling $93.01M, while imports from Thailand declined to $401.50M, resulting in a trade deficit of -$308.49M.
What are the top exports from Argentina to Thailand?
Argentina's top exports to Thailand are unclassified goods (HS Code 99, 63.86%), followed by fish/seafood (HS Code 03, 23.77%) and raw hides/skins (HS Code 41, 8.20%).
What does Argentina import from Thailand?
Argentina primarily imports vehicles/parts (HS Code 87, 35.17%) and machinery/equipment (HS Code 84, 34.27%) from Thailand, alongside rubber (HS 40) and steel products (HS 73).
What is the trade balance between Argentina and Thailand?
Argentina recorded a trade deficit of -$308.49M with Thailand in Q2 2024, driven by heavy reliance on Thai industrial imports and limited export diversification.
Argentina - Thailand Trade 2024 Q1: Deficit & Tech Imbalance
Argentina's Thailand trade trend shows a $291.91M deficit in Q1 2024, with tech imports outweighing agricultural exports. Explore top trading products and insights via yTrade data.
Argentina - Thailand Trade 2024 Q3: Widening Deficit
Argentina's trade deficit with Thailand hit $393.47M in Q3 2024, driven by raw material exports and machinery imports. Explore Argentina Thailand trade trends and top trading products via yTrade data.
