Argentina - United States Trade 2023 Whole Year: Volatile Deficit
Key Market Takeaways: Argentina - United States Trade
The bilateral trade relationship between Argentina and United States is marked by volatility and a persistent deficit in 2023.
- Economic Pulse: Argentina ran a $3.0B trade deficit with the U.S. ($8.63B imports vs. $5.63B exports), with sharp YoY swings in both directions.
- Exchange Structure: Argentina - United States trade statistics reveal a resource-for-tech imbalance—Argentina supplies agricultural and energy commodities (HS 27, 99) while importing U.S. machinery, fuel, and pharmaceuticals.
- Strategic Interdependence: The partnership hinges on complementary needs, but Argentina’s heavy reliance on a narrow export base (top 2 categories = 74.7% share) exposes it to demand shocks.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-United States Trade Trend in Whole Year 2023
Argentina Export Performance: Shipments to United States
- Total Volume: $5.63B in 2023.
- Growth Trend & Context:
- Volatile YoY performance, ranging from -48.78% (June) to +107.4% (January). No clear trend, but sharp declines dominated mid-year.
- Key Volatility: October saw a +50.95% MoM surge, while November dropped -34.15% MoM.
Argentina Import Performance: Sourcing from United States
- Total Volume: $8.63B in 2023.
- Growth Trend & Context:
- Predominantly negative YoY trends, with July (-37.91%) and June (-34.2%) as lows. Only January (+75.58%) and September (+10.0%) showed growth.
- Key Volatility: May recorded a +69.65% MoM spike, while December plunged -37.28% MoM.
Argentina - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $3.0B (Imports $8.63B > Exports $5.63B).
- Relationship Status: Argentina remains a net importer from the U.S., with imports 53% higher than exports. Demand volatility reflects broader economic pressures.
Argentina Import Trend from United States 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 636.78M | 13.85% | 75.58% |
| Feb | 584.57M | -8.2% | 23.72% |
| Mar | 712.57M | 21.9% | 8.1% |
| Apr | 571.36M | -19.82% | -36.11% |
| May | 969.30M | 69.65% | -24.73% |
| Jun | 1.01B | 4.47% | -34.2% |
| Jul | 1.01B | 0.04% | -37.91% |
| Aug | 826.39M | -18.42% | -28.09% |
| Sep | 653.82M | -20.88% | 10.0% |
| Oct | 600.78M | -8.11% | -4.4% |
| Nov | 644.37M | 7.26% | 16.85% |
| Dec | 404.16M | -37.28% | -27.74% |
| Total | 8.63B | - | - |
Argentina Export Trend to United States 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 518.78M | 18.33% | 107.4% |
| Feb | 397.15M | -23.44% | -31.38% |
| Mar | 364.36M | -8.26% | -41.83% |
| Apr | 571.23M | 56.77% | -14.08% |
| May | 411.71M | -27.93% | -24.47% |
| Jun | 381.66M | -7.3% | -48.78% |
| Jul | 487.96M | 27.85% | 14.91% |
| Aug | 454.78M | -6.8% | -29.42% |
| Sep | 430.09M | -5.43% | -38.82% |
| Oct | 649.24M | 50.95% | 0.99% |
| Nov | 427.51M | -34.15% | -2.24% |
| Dec | 533.51M | 24.8% | 21.69% |
| Total | 5.63B | - | - |
Get Historical Argentina United States Trade Records
Argentina-United States Top Trading Products in Whole Year 2023
Argentina Export Profile: What Does Argentina Sell to United States
- Top Commodity: HS Code 99 (Unspecified goods) dominates with 42.84% share.
- Demand Driver: The high share of unspecified goods suggests potential data classification gaps or niche trade segments. Agricultural products (HS 02, 04, 03, 08) and energy (HS 27) indicate United States sources raw materials and food from Argentina.
- Concentration: The top 2 categories (HS 99 and 27) hold 74.7% share, signaling heavy reliance on a narrow export base.
Argentina Import Profile: What Does Argentina Buy from United States
- Top Commodity: HS Code 27 (Mineral fuels, oils) leads with 36.45% share.
- Dependency Nature: Energy imports (HS 27) point to Argentina’s reliance on United States for fuel supply. Machinery (HS 84, 85) and pharmaceuticals (HS 30) reflect technology and healthcare dependencies.
Argentina - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (agriculture, energy) and imports high-value machinery and fuel, a classic asymmetric trade pattern.
- Value Chain Position: United States holds the higher value-add position, supplying advanced goods (machinery, pharmaceuticals) while Argentina provides commodities.
Import Analysis by Product: United States to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 3.15B | 36.45% |
| 84 | 1.12B | 12.96% |
| 39 | 636.10M | 7.37% |
| 29 | 618.14M | 7.16% |
| 30 | 488.04M | 5.66% |
| 38 | 445.99M | 5.17% |
| 87 | 287.30M | 3.33% |
| 90 | 285.23M | 3.31% |
| 85 | 276.00M | 3.20% |
| 31 | 176.19M | 2.04% |
Export Analysis by Product: Argentina to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 2.41B | 42.84% |
| 27 | 1.79B | 31.86% |
| 22 | 180.37M | 3.20% |
| 02 | 132.04M | 2.35% |
| 04 | 127.44M | 2.26% |
| 15 | 125.39M | 2.23% |
| 03 | 111.91M | 1.99% |
| 08 | 105.56M | 1.88% |
| 84 | 95.65M | 1.70% |
| 12 | 94.38M | 1.68% |
Check Detailed Argentina-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina - United States Trade
Argentina’s trade with the United States in 2024 will likely remain volatile, with persistent deficits driven by uneven demand and commodity price fluctuations. The U.S. will continue dominating high-value exports (machinery, pharmaceuticals), while Argentina’s reliance on energy imports (HS 27) and agricultural exports (HS 02, 04) leaves it exposed to global market swings. Traders should brace for erratic MoM shifts, particularly in fuel and unspecified goods (HS 99), where data gaps obscure true demand. However, if Argentina stabilizes domestic energy production, it could marginally reduce its import dependency, narrowing the $3B deficit.
Strategic Moves for Traders & Policymakers
- Diversify Export Categories: Argentina must reduce overreliance on HS 99 and HS 27 by promoting processed agricultural goods (e.g., biofuels, dairy) to capture higher margins in U.S. markets.
- Lock in Energy Contracts: Importers should secure long-term fuel supply agreements with U.S. providers to hedge against price volatility, especially given Argentina’s 36.45% dependence on HS 27.
- Pressure for Data Transparency: Argentine trade agencies must clarify HS 99 classifications to identify hidden export opportunities and mitigate risks from opaque transactions.
Frequently Asked Questions
How did Argentina - United States trade perform in 2023 Whole Year?
Argentina exported $5.63B to the United States and imported $8.63B, with volatile growth trends and a trade deficit of $3.0B.
What are the top exports from Argentina to United States?
Unspecified goods (HS 99) dominated with 42.84% share, followed by mineral fuels (HS 27), reflecting a reliance on raw materials and energy exports.
What does Argentina import from United States?
Top imports include mineral fuels (HS 27) at 36.45%, along with machinery (HS 84, 85) and pharmaceuticals (HS 30), highlighting tech and healthcare dependencies.
What is the trade balance between Argentina and United States?
Argentina had a trade deficit of $3.0B with the United States, as imports ($8.63B) exceeded exports ($5.63B) by 53%.
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