Argentina - United States Trade 2024 Q3: Narrow Deficit, Resource-Tech Dynamic

Key Market Takeaways: Argentina - United States Trade

The bilateral trade relationship between Argentina and United States shows mixed signals in Q3 2024, with export growth offset by import contraction.

• Economic Pulse: Argentina posted a narrow $40M trade deficit with the U.S. ($1.76B imports vs. $1.72B exports), as import declines (-28.86% YoY) outpaced export gains (+38.87% YoY peak).
• Exchange Structure: Argentina - United States trade statistics reveal a resource-for-tech dynamic—Argentina ships consumer goods (HS 99, 35.8%) and energy (HS 27) while importing U.S. machinery (HS 84) and energy (HS 27, 27.8%).
• Strategic Interdependence: Moderately complementary, but Argentina’s export concentration (HS 99 + HS 27 = 67.7% share) highlights vulnerability to demand shifts.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Argentina-United States Trade Trend in Q3 2024

Argentina Export Performance: Shipments to United States

• Total Volume: $1.72B in Q3 2024.
• Growth Trend & Context:
  • Exports grew YoY in all months (Jul: +38.87%, Aug: +19.81%, Sep: +15.08%), signaling sustained demand.
  • No specific trade news to explain the trend.
• Key Volatility: July saw a sharp MoM surge (+41.76%), followed by declines in August (-19.59%) and September (-9.16%).

Argentina Import Performance: Sourcing from United States

• Total Volume: $1.76B in Q3 2024.
• Growth Trend & Context:
  • Imports contracted YoY across all months (Jul: -28.86%, Aug: -35.08%, Sep: -22.55%), reflecting reduced procurement.
• Key Volatility: August recorded the steepest MoM drop (-25.56%), with September imports dipping further (-5.61%).

Argentina - United States Trade Balance & Market Dynamics

• Net Position: Trade deficit of $40M (Imports $1.76B > Exports $1.72B).
• Relationship Status: Narrow deficit suggests relatively balanced trade, though Argentina’s import contraction outpaces export growth.

Argentina Import Trend from United States 2024 Q3 (Source: yTrade)**

Argentina Export Trend to United States 2024 Q3 (Source: yTrade)**

Get Historical Argentina United States Trade Records

Argentina-United States Top Trading Products in Q3 2024

Argentina Export Profile: What Does Argentina Sell to United States

• Top Commodity: HS Code 99 (35.79% share).
• Demand Driver: Serving United States's consumer market.
• Concentration: Yes, HS Code 99 and 27 (combined 67.71% share) dominate exports.

Argentina Import Profile: What Does Argentina Buy from United States

• Top Commodity: HS Code 27 (27.75% share).
• Dependency Nature: Energy security or raw material dependency.

Argentina - United States Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina exports consumer goods (HS 99) and energy (HS 27) while importing energy (HS 27) and machinery (HS 84).
• Value Chain Position: United States holds higher value-add with machinery (HS 84) and pharmaceuticals (HS 30) in imports. Argentina’s exports skew toward lower-complexity goods.

Import Analysis by Product: United States to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to United States (Source: yTrade)

Check Detailed Argentina-United States Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Argentina’s trade with the United States is expected to stabilize in Q4 2024, with exports likely maintaining their YoY growth trajectory due to sustained demand for consumer goods (HS 99) and energy (HS 27). However, the import contraction from the U.S. may persist, driven by Argentina’s reduced procurement of energy (HS 27) and machinery (HS 84), reflecting broader economic tightening. The trade deficit, though narrow, could widen slightly if export growth slows amid global volatility. Traders should monitor U.S. consumer trends and Argentina’s domestic energy policies for signals of shifting demand.

Strategic Moves

• Diversify Export Basket: Argentina’s overreliance on HS 99 and HS 27 exposes it to demand shocks. Exporters must expand into higher-value niches like processed foods (HS 16) or automotive parts (HS 87) to reduce concentration risk.
• Lock in Energy Contracts: With HS 27 dominating imports, Argentine buyers should secure long-term energy supply agreements to hedge against price fluctuations and ensure stable input costs.
• Leverage Tech Imports for Upgrading: Argentina’s reliance on U.S. machinery (HS 84) presents an opportunity. Importers should prioritize high-efficiency equipment to boost local productivity and offset import dependency over time.

Frequently Asked Questions

How did Argentina - United States trade perform in 2024 Q3?

Argentina's exports to the United States grew YoY (+38.87% in July, +19.81% in August, +15.08% in September), totaling $1.72B, while imports contracted YoY (-28.86% in July, -35.08% in August, -22.55% in September), totaling $1.76B.

What are the top exports from Argentina to United States?

Argentina's top exports to the United States are HS Code 99 (35.79% share) and HS Code 27 (31.92% share), dominating 67.71% of total exports.

What does Argentina import from United States?

Argentina primarily imports HS Code 27 (27.75% share) and HS Code 84 from the United States, reflecting energy and machinery dependencies.

What is the trade balance between Argentina and United States?

Argentina recorded a trade deficit of $40M with the United States in Q3 2024, as imports ($1.76B) slightly exceeded exports ($1.72B). The deficit narrowed due to Argentina's import contraction outpacing export growth.