Argentina - Uruguay Trade 2023 Q4: Resource-for-Tech Exchange

Key Market Takeaways: Argentina - Uruguay Trade

The bilateral trade relationship between Argentina and Uruguay shows strong growth but high volatility in Q4 2023.

• Argentina holds a $267.91M surplus, with exports ($398.96M) nearly triple imports ($131.05M), though both flows saw sharp monthly swings.
• Argentina - Uruguay trade statistics reveal a Resource-for-Tech exchange: Argentina dominates with services/unclassified goods (HS 99 at 44.08%), while Uruguay supplies machinery (HS 85) and agricultural inputs.
• Asymmetrical but complementary: Argentina’s concentrated exports meet Uruguay’s diversified industrial and agricultural shipments, reinforcing mutual dependency.

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

Argentina-Uruguay Trade Trend in Q4 2023

Argentina Export Performance: Shipments to Uruguay

• Total Volume: $398.96M in Q4 2023.
• Growth Trend & Context:
  • Volatile YoY performance: October (-36.82%) and December (-23.55%) saw sharp declines, while November surged 37.25%.
• Key Volatility: November’s exports spiked 85.9% MoM, followed by a steep 49.93% drop in December.

Argentina Import Performance: Sourcing from Uruguay

• Total Volume: $131.05M in Q4 2023.
• Growth Trend & Context:
  • Mixed YoY trends: October (+21.21%) growth reversed in November (-27.58%) and December (-5.75%).
• Key Volatility: November imports plummeted 33.91% MoM, with a partial 12.81% recovery in December.

Argentina - Uruguay Trade Balance & Market Dynamics

• Net Position: Argentina holds a trade surplus of $267.91M (Exports: $398.96M > Imports: $131.05M).
• Relationship Status: Strong net exporter role, though both flows show high monthly volatility.

Argentina Import Trend from Uruguay 2023 Q4 (Source: yTrade)**

Argentina Export Trend to Uruguay 2023 Q4 (Source: yTrade)**

Get Historical Argentina Uruguay Trade Records

Argentina-Uruguay Top Trading Products in Q4 2023

Argentina Export Profile: What Does Argentina Sell to Uruguay

• Top Commodity: HS Code 99 dominates with 44.08% share. This suggests a highly specialized export, likely services or unclassified goods, given its atypical HS code.
• Demand Driver: The mix includes machinery (HS 87), pharmaceuticals (HS 30), and chemicals (HS 38), indicating Uruguay relies on Argentina for industrial inputs and consumer goods.
• Concentration: Extreme—HS 99 alone accounts for nearly half of exports, signaling heavy dependence on this category.

Argentina Import Profile: What Does Argentina Buy from Uruguay

• Top Commodity: HS Code 85 (electrical machinery) leads at 13.69%, followed closely by agricultural products (HS 12, 47).
• Dependency Nature: Imports span machinery (HS 85), vehicles (HS 87), and pulp/paper (HS 47), suggesting a mix of industrial and agricultural reliance. Uruguay supplies critical manufacturing components and raw materials.

Argentina - Uruguay Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Argentina exports services/unclassified goods (HS 99) and industrial inputs, while Uruguay supplies machinery and agricultural products.
• Value Chain Position: Uruguay holds a slight edge in higher-value exports (e.g., electrical machinery), while Argentina’s exports are more concentrated in lower-value or specialized categories. Trade is asymmetrical but mutually reinforcing.

Import Analysis by Product: Uruguay to Argentina (Source: yTrade)

Export Analysis by Product: Argentina to Uruguay (Source: yTrade)

Check Detailed Argentina-Uruguay Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Argentina’s trade surplus with Uruguay is expected to persist in 2024, but volatility in monthly flows will likely continue due to uneven demand for key exports (HS 99) and Uruguay’s fluctuating industrial input needs. The high concentration in Argentina’s exports (44% from HS 99) poses a risk—any disruption in this category could sharply impact trade volumes. However, Uruguay’s reliance on Argentine industrial goods and Argentina’s demand for Uruguayan machinery (HS 85) will sustain the complementary trade dynamic. Traders should prepare for asymmetric growth, with Argentina maintaining a surplus but facing tighter margins if Uruguay diversifies its sourcing.

Strategic Moves

• Lock in Long-Term Contracts for HS 99 Exports: Given the extreme concentration risk, Argentine exporters must secure multi-year agreements with Uruguayan buyers to stabilize revenue streams and mitigate monthly volatility.
• Diversify Import Sources for Critical Machinery (HS 85): Argentina’s reliance on Uruguayan electrical machinery leaves supply chains vulnerable. Importers should explore alternative suppliers in Brazil or China to reduce dependency.
• Invest in Trade Data Analytics for Timing: With erratic monthly swings (e.g., November’s 85.9% export spike), traders must adopt real-time monitoring tools to capitalize on demand surges and avoid overstocking during downturns.

Frequently Asked Questions

How did Argentina - Uruguay trade perform in 2023 Q4?

Argentina exported $398.96M to Uruguay and imported $131.05M, with volatile monthly growth trends in both directions.

What are the top exports from Argentina to Uruguay?

HS Code 99 (likely services or unclassified goods) dominates at 44.08%, followed by machinery (HS 87), pharmaceuticals (HS 30), and chemicals (HS 38).

What does Argentina import from Uruguay?

Top imports include electrical machinery (HS 85), agricultural products (HS 12, 47), vehicles (HS 87), and pulp/paper (HS 47).

What is the trade balance between Argentina and Uruguay?

Argentina holds a trade surplus of $267.91M, with exports significantly outpacing imports in Q4 2023.