Argentina - United States Trade 2024 Whole Year: Resilient Surplus & Tech Exchange
Key Market Takeaways: Argentina - United States Trade
The bilateral trade relationship between Argentina and United States balances growth with volatility in 2024, maintaining a narrow surplus.
- Economic Pulse: Argentina holds a $240M trade surplus ($6.47B exports vs. $6.23B imports), driven by resilient raw material shipments despite uneven monthly performance.
- Exchange Structure: Argentina - United States trade statistics reveal resource-for-tech complementarity—Argentina supplies bulk commodities (HS 99, 27) while importing U.S. energy (HS 27) and machinery (HS 84).
- Strategic Interdependence: The partnership reflects asymmetric value chains, with Argentina as a raw material supplier and the U.S. dominating high-value exports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-United States Trade Trend in Whole Year 2024
Argentina Export Performance: Shipments to United States
- Total Volume: $6.47B in 2024.
- Growth Trend & Context:
- Mixed YoY performance: Strong growth in May (+32.85%), July (+38.87%), and November (+60.51%), but declines in October (-15.55%) and February (-6.96%).
- Peak volatility in April (+43.99% MoM) and July (+41.76% MoM), with sharp drops in June (-12.6% MoM) and August (-19.59% MoM).
Argentina Import Performance: Sourcing from United States
- Total Volume: $6.23B in 2024.
- Growth Trend & Context:
- Predominantly negative YoY trends, with steep declines in March (-40.49%), May (-44.54%), and November (-45.77%). Only December (+32.63% YoY) showed significant recovery.
- Highest MoM volatility in December (+53.4%) and June (+30.38%), countered by steep drops in February (-25.79%) and August (-25.56%).
Argentina - United States Trade Balance & Market Dynamics
- Net Position: Trade Surplus of $240M (Exports $6.47B > Imports $6.23B).
- Relationship Status: Argentina maintains a narrow surplus, reflecting balanced trade with the U.S. despite volatile monthly flows. Export resilience in key months (e.g., July, November) offset import contractions.
Argentina Import Trend from United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 532.86M | 31.84% | -16.32% |
| Feb | 395.42M | -25.79% | -32.36% |
| Mar | 424.03M | 7.24% | -40.49% |
| Apr | 538.14M | 26.91% | -5.81% |
| May | 537.53M | -0.11% | -44.54% |
| Jun | 700.84M | 30.38% | -30.79% |
| Jul | 720.68M | 2.83% | -28.86% |
| Aug | 536.49M | -25.56% | -35.08% |
| Sep | 506.38M | -5.61% | -22.55% |
| Oct | 447.65M | -11.6% | -25.49% |
| Nov | 349.44M | -21.94% | -45.77% |
| Dec | 536.05M | 53.4% | 32.63% |
| Total | 6.23B | - | - |
Argentina Export Trend to United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 444.80M | -16.63% | -14.26% |
| Feb | 413.82M | -6.96% | 4.2% |
| Mar | 415.71M | 0.46% | 14.09% |
| Apr | 598.57M | 43.99% | 4.79% |
| May | 546.95M | -8.62% | 32.85% |
| Jun | 478.02M | -12.6% | 25.25% |
| Jul | 677.64M | 41.76% | 38.87% |
| Aug | 544.87M | -19.59% | 19.81% |
| Sep | 494.94M | -9.16% | 15.08% |
| Oct | 548.26M | 10.77% | -15.55% |
| Nov | 686.20M | 25.16% | 60.51% |
| Dec | 621.18M | -9.48% | 16.43% |
| Total | 6.47B | - | - |
Get Historical Argentina United States Trade Records
Argentina-United States Top Trading Products in Whole Year 2024
Argentina Export Profile: What Does Argentina Sell to United States
- Top Commodity: HS Code 99 (38.33% share) dominates exports.
- Demand Driver: Likely raw materials or agricultural products, serving U.S. industrial or consumer markets.
- Concentration: High—top two categories (HS 99 and 27) account for 72.72% of exports.
Argentina Import Profile: What Does Argentina Buy from United States
- Top Commodity: HS Code 27 (20.67% share), primarily mineral fuels or oils.
- Dependency Nature: Energy security dependency, given the dominance of HS 27 (mineral fuels).
Argentina - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (HS 99, 27) and imports energy (HS 27) and machinery (HS 84).
- Value Chain Position: U.S. holds higher value-add, exporting machinery (HS 84, 85) and pharmaceuticals (HS 30), while Argentina supplies bulk commodities.
Import Analysis by Product: United States to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 1.29B | 20.67% |
| 84 | 1.12B | 17.97% |
| 29 | 505.32M | 8.12% |
| 39 | 436.82M | 7.02% |
| 38 | 396.64M | 6.37% |
| 30 | 381.47M | 6.13% |
| 85 | 342.73M | 5.51% |
| 87 | 319.12M | 5.13% |
| 90 | 317.60M | 5.10% |
| 31 | 144.38M | 2.32% |
Export Analysis by Product: Argentina to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 2.48B | 38.33% |
| 27 | 2.23B | 34.39% |
| 02 | 199.77M | 3.09% |
| 22 | 197.78M | 3.06% |
| 15 | 194.32M | 3.00% |
| 20 | 165.36M | 2.56% |
| 08 | 135.41M | 2.09% |
| 03 | 132.62M | 2.05% |
| 04 | 128.85M | 1.99% |
| 84 | 91.98M | 1.42% |
Check Detailed Argentina-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade with the United States is expected to remain volatile but resilient in 2025, driven by strong demand for its raw materials (HS 99, 27) despite fluctuating energy imports (HS 27). The narrow trade surplus ($240M) suggests balanced interdependence, but exporters should prepare for potential U.S. market shifts—especially in months with historically sharp declines (e.g., February, August). If Argentina sustains its export momentum in key growth months (July, November), the surplus could widen, but import volatility in energy and machinery (HS 84) may pressure margins.
Strategic Moves
- Lock in Commodity Prices: Argentine exporters of HS 99 and 27 should secure forward contracts to hedge against price swings, especially during high-growth periods (May, July, November).
- Diversify Energy Imports: Reduce reliance on U.S. mineral fuels (HS 27) by exploring alternative suppliers to mitigate supply shocks, as seen in March and May’s steep import drops (-40.49%, -44.54% YoY).
- Target U.S. Industrial Demand: Capitalize on the resource-for-tech exchange by boosting exports of raw materials to U.S. manufacturing hubs, while negotiating tech-transfer partnerships for machinery (HS 84, 85) imports.
Frequently Asked Questions
How did Argentina - United States trade perform in 2024 Whole Year?
Argentina exported $6.47B to the U.S. and imported $6.23B, with mixed growth trends—strong export surges in May, July, and November but import declines in most months.
What are the top exports from Argentina to United States?
HS Code 99 (38.33% share) and HS Code 27 dominate Argentina’s exports, likely raw materials or agricultural products.
What does Argentina import from United States?
HS Code 27 (20.67% share, mineral fuels/oils) and machinery (HS 84, 85) are Argentina’s top imports from the U.S.
What is the trade balance between Argentina and United States?
Argentina recorded a $240M trade surplus with the U.S. in 2024, driven by resilient exports offsetting import contractions.
Argentina - United States Trade 2023 Q4: Resource-for-Tech Dynamic
Argentina's trade with the U.S. in Q4 2023 shows a resource-for-tech trend, with fuels dominating exports and machinery leading imports. Explore the latest Argentina United States trade trends on yTrade.
Argentina - United States Trade 2024 Q1: Deficit Persists, Exports Rebound
Argentina's trade deficit with the U.S. narrowed in Q1 2024 as exports rose. Explore Argentina United States trade trends and top trading products with yTrade data.
