Argentina - Thailand Trade 2024 Q3: Widening Deficit
Key Market Takeaways: Argentina - Thailand Trade
The bilateral trade relationship between Argentina and Thailand remains heavily import-dependent, with Argentina facing a widening trade deficit in Q3 2024.
- Economic Pulse: Argentina posted a $393.47M trade deficit with Thailand, driven by imports ($440.25M) far outpacing exports ($46.78M). YoY export declines (-48.57% in July) highlight persistent challenges.
- Exchange Structure: Argentina - Thailand trade statistics reveal a resource-for-tech imbalance—Argentina ships raw materials (HS 99 dominates at 66.39%) while importing machinery (HS 84, 37.30%) and vehicles from Thailand.
- Strategic Interdependence: Thailand holds the higher value-add position, supplying critical industrial inputs, while Argentina’s export base remains narrow and commodity-reliant.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Thailand Trade Trend in Q3 2024
Argentina Export Performance: Shipments to Thailand
- Total Volume: Exports to Thailand totaled $46.78M in Q3 2024.
- Growth Trend & Context:
- YoY declines persisted across all months, with July (-48.57%) and September (-20.08%) showing sharp contractions.
- No mitigating news to explain the downturn.
- Key Volatility: August (+39.06% MoM) saw a temporary rebound before September’s -29.42% MoM drop.
Argentina Import Performance: Sourcing from Thailand
- Total Volume: Imports from Thailand reached $440.25M in Q3 2024.
- Growth Trend & Context:
- Mixed YoY performance: September (+25.27%) offset July (-30.33%) and August (-19.95%) declines.
- Key Volatility: August (+53.2% MoM) marked the steepest monthly surge, while July (-7.5% MoM) was the weakest.
Argentina - Thailand Trade Balance & Market Dynamics
- Net Position: Argentina ran a trade deficit of $393.47M (Imports $440.25M > Exports $46.78M).
- Relationship Status: Heavily import-dependent on Thailand, with exports failing to offset inbound shipments.
Argentina Import Trend from Thailand 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 103.58M | -7.5% | -30.33% |
| Aug | 158.69M | 53.2% | -19.95% |
| Sep | 177.99M | 12.16% | 25.27% |
| Total | 440.25M | - | - |
Argentina Export Trend to Thailand 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 13.87M | -56.42% | -48.57% |
| Aug | 19.29M | 39.06% | -10.45% |
| Sep | 13.62M | -29.42% | -20.08% |
| Total | 46.78M | - | - |
Get Historical Argentina Thailand Trade Records
Argentina-Thailand Top Trading Products in Q3 2024
Argentina Export Profile: What Does Argentina Sell to Thailand
- Top Commodity: HS Code 99 dominates exports, accounting for 66.39% of total value.
- Demand Driver: Thailand likely uses these exports for industrial processing, given the high concentration in a single category.
- Concentration: Extreme reliance on HS Code 99 (>50% share), indicating a narrow export base.
Argentina Import Profile: What Does Argentina Buy from Thailand
- Top Commodity: HS Code 84 (machinery/mechanical appliances) leads imports at 37.30% of total value.
- Dependency Nature: Critical technology dependency, as machinery and vehicles (HS 87, 85) dominate the import basket.
Argentina - Thailand Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (HS 99, 03, 41) while importing high-tech machinery and vehicles from Thailand.
- Value Chain Position: Thailand holds the higher value-add position, supplying advanced manufactured goods, while Argentina provides raw materials.
Import Analysis by Product: Thailand to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 164.19M | 37.30% |
| 87 | 139.49M | 31.68% |
| 85 | 41.97M | 9.53% |
| 40 | 22.68M | 5.15% |
| 73 | 18.92M | 4.30% |
| 39 | 12.60M | 2.86% |
| 90 | 12.55M | 2.85% |
| 94 | 11.76M | 2.67% |
| 83 | 3.77M | 0.86% |
| 16 | 1.54M | 0.35% |
Export Analysis by Product: Argentina to Thailand (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 31.06M | 66.39% |
| 03 | 7.56M | 16.16% |
| 41 | 6.26M | 13.39% |
| 44 | 584.87K | 1.25% |
| 52 | 446.36K | 0.95% |
| 22 | 411.98K | 0.88% |
| 07 | 335.84K | 0.72% |
| 20 | 118.90K | 0.25% |
Check Detailed Argentina-Thailand Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade deficit with Thailand is expected to persist in Q4 2024, driven by continued demand for Thai machinery (HS 84) and weak export recovery in Argentina’s narrow commodity base (HS 99). The volatility in monthly trade flows suggests exporters should brace for further instability, particularly if raw material prices remain depressed. Without diversification or policy intervention, the resource-for-tech imbalance will deepen, reinforcing Thailand’s value-chain dominance.
Strategic Moves
- Diversify Export Basket: Argentine exporters must reduce reliance on HS 99 by identifying secondary commodities (e.g., processed agricultural goods) to mitigate demand shocks.
- Negotiate Tech Transfers: Argentine firms importing Thai machinery (HS 84) should secure knowledge-sharing agreements to build domestic manufacturing capacity and reduce long-term dependency.
- Hedge Against Volatility: Traders should lock in forward contracts for critical imports (HS 84, 87) to manage abrupt price swings, especially after August’s 53.2% MoM surge.
Frequently Asked Questions
How did Argentina - Thailand trade perform in 2024 Q3?
Argentina's exports to Thailand fell YoY, totaling $46.78M, while imports from Thailand reached $440.25M, resulting in a $393.47M trade deficit.
What are the top exports from Argentina to Thailand?
HS Code 99 dominates Argentina's exports to Thailand, accounting for 66.39% of total value, likely used for industrial processing.
What does Argentina import from Thailand?
Argentina primarily imports machinery/mechanical appliances (HS Code 84, 37.30%) and vehicles (HS Codes 87, 85) from Thailand.
What is the trade balance between Argentina and Thailand?
Argentina runs a $393.47M trade deficit with Thailand, reflecting heavy import dependency on Thai high-tech goods.
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.
Argentina - Thailand Trade 2024 Q4: Deficit-Driven Exchange
Argentina's trade deficit with Thailand hit $438.59M in Q4 2024, driven by raw material exports and Thai tech imports. Explore Argentina Thailand trade trends and top trading products via yTrade data.
