Top Argentina Exports 2024 Q1: Commodity Dominance

Argentina Export Portfolio Overview in 2024 Q1

• Dominated by agricultural goods: HS Code 10 (Cereals, 16.94%, $2.95B) and HS Code 23 (Animal feed residues, 7.18%, $1.25B) form the core.
• Extreme concentration risk: Top 3 sectors (HS 99, 10, 27) represent 60.47% of total exports, heavily exposed to commodity price swings and climate volatility.
• Reinforces Argentina's role as a global agricultural commodity supplier, not a manufacturing hub. Economy remains tied to raw material extraction and bulk agri-exports.

Table: Argentina Top Export Product in 2024 Q1 (Source: yTrade)

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Key Driver: Cereals (HS Code 10)

• Driven by maize (corn, HS 1005) at $1.47B (49.92% of sector) and wheat (HS 1001) at $1.07B (36.42%).
• Product type: Bulk raw agricultural commodities, minimally processed.
• Dominance stems from Argentina’s natural advantages: vast fertile pampas, scalable farming, and efficient port logistics for bulk shipment. Tech adoption (GMO crops, no-till farming) boosts yield competitiveness globally.

Table: HS Code 10 Detailed Breakdown

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Key Driver: Mineral Fuels & Oils (HS Code 27)

• Crude oil (HS 2709) is the key product: $898.56M (60.07% of sector).
• Acts as a counterweight to agriculture—diversifies export revenue streams away from pure agro-dependency.
• Strategic as an energy security asset; provides hard currency but exposes Argentina to oil price volatility and domestic extraction investment cycles.

Table: HS Code 27 Detailed Breakdown

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Key Driver: Residues & Waste from Food Industries (HS Code 23)

• Soybean oilcake (HS 2304) dominates: $1.15B (92.43% of sector).
• Role: Stable legacy sector—direct byproduct of soy crushing, integral to the agro-export complex. Not growth-driven but structurally embedded.
• Functions as a complement to core grain exports, adding value to the soy processing chain and supplying global animal feed markets.

Table: HS Code 23 Detailed Breakdown

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Frequently Asked Questions

What is Argentina's largest export commodity in 2024 Q1?

The largest export category is Cereals (HS 10), valued at $2.95B. This sector is primarily driven by exports of Maize (Corn) (HS 1005), which alone accounts for $1.47B (49.92%) of the total cereal exports.

Which specific Cereals products does Argentina export most in 2024 Q1?

Within the Cereals sector, the top exports are Maize (Corn) (HS 1005) at $1.47B and Wheat (HS 1001) at $1.07B, which together account for 86.34% of Argentina’s cereal exports.

Does Argentina export Mineral Fuels in 2024 Q1?

Yes, Mineral Fuels (HS 27) is Argentina’s second-largest export sector, valued at $1.50B. The primary product is Crude Petroleum (HS 2709), contributing $898.56M (60.07%) of the total.

What are the main industries driving Argentina's economy?

Argentina’s export economy is heavily reliant on Cereals (HS 10, $2.95B) and Mineral Fuels (HS 27, $1.50B), which together make up 25.53% of total exports. The third-largest sector is Residues & Animal Fodder (HS 23, $1.25B).

How to find Argentina Cereals suppliers?

You can access a list of active suppliers and exporters for Cereals (HS 10) using the yTrade database, which provides detailed shipment records and company contacts.