Argentina - Uruguay Trade 2024 Q4: $179M Surplus
Key Market Takeaways: Argentina - Uruguay Trade
The bilateral trade relationship between Argentina and Uruguay shows growth with notable volatility in Q4 2024.
- Argentina holds a $179M trade surplus, with exports ($508M) outpacing imports ($329M), though both flows saw sharp monthly swings.
- Trade statistics reveal a resource-for-tech exchange: Argentina exports industrial/consumer goods (HS Code 99, 27) while relying on Uruguay for raw materials (HS Code 12 dominates imports).
- Complementary but concentrated: Argentina’s higher value-add exports signal asymmetric interdependence, with top two products accounting for over 50% of trade.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Uruguay Trade Trend in Q4 2024
Argentina Export Performance: Shipments to Uruguay
- Total Volume: $508.28M in Q4 2024.
- Growth Trend & Context:
- YoY growth was mixed, with October (+72.49%) and December (+35.59%) showing strong increases, while November (-0.95%) saw a slight contraction.
- No specific trade news or policy changes were reported to explain these fluctuations.
- Key Volatility: December recorded the sharpest MoM drop (-31.46%), while November had the highest export value ($193.83M).
Argentina Import Performance: Sourcing from Uruguay
- Total Volume: $328.86M in Q4 2024.
- Growth Trend & Context:
- YoY growth was volatile, with October (+203.81%) and November (+192.24%) surging, followed by a sharp slowdown in December (+43.41%).
- No relevant news or policy shifts were cited to contextualize the trends.
- Key Volatility: October saw the highest MoM spike (+74.38%), while December posted the lowest value ($58.22M) and steepest MoM decline (-44.64%).
Argentina - Uruguay Trade Balance & Market Dynamics
- Net Position: Argentina holds a trade surplus of $179.42M (Exports: $508.28M vs. Imports: $328.86M).
- Relationship Status: Argentina maintains a strong net exporter role, with exports to Uruguay outpacing imports by a significant margin.
Argentina Import Trend from Uruguay 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 165.45M | 74.38% | 203.81% |
| Nov | 105.18M | -36.43% | 192.24% |
| Dec | 58.22M | -44.64% | 43.41% |
| Total | 328.86M | - | - |
Argentina Export Trend to Uruguay 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 181.59M | 25.82% | 72.49% |
| Nov | 193.83M | 6.74% | -0.95% |
| Dec | 132.86M | -31.46% | 35.59% |
| Total | 508.28M | - | - |
Get Historical Argentina Uruguay Trade Records
Argentina-Uruguay Top Trading Products in Q4 2024
Argentina Export Profile: What Does Argentina Sell to Uruguay
- Top Commodity: HS Code 99 (28.03% share).
- Demand Driver: Uruguay likely imports these goods for industrial processing or consumer market needs.
- Concentration: The top two exports (HS Code 99 and 27) account for over 50% of total exports, indicating high trade concentration.
Argentina Import Profile: What Does Argentina Buy from Uruguay
- Top Commodity: HS Code 12 (50.12% share).
- Dependency Nature: Argentina heavily relies on this import, suggesting a food security or raw material dependency.
Argentina - Uruguay Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports industrial/consumer goods (HS Code 99, 27) while importing raw materials (HS Code 12).
- Value Chain Position: Argentina holds a higher value-add position, exporting processed goods, while Uruguay supplies raw materials.
Import Analysis by Product: Uruguay to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 164.82M | 50.12% |
| 27 | 21.46M | 6.52% |
| 85 | 20.90M | 6.35% |
| 47 | 19.38M | 5.89% |
| 39 | 15.51M | 4.72% |
| 87 | 12.99M | 3.95% |
| 30 | 11.81M | 3.59% |
| 38 | 8.91M | 2.71% |
| 34 | 8.52M | 2.59% |
| 15 | 7.98M | 2.43% |
Export Analysis by Product: Argentina to Uruguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 142.47M | 28.03% |
| 27 | 115.01M | 22.63% |
| 30 | 30.96M | 6.09% |
| 38 | 16.26M | 3.20% |
| 87 | 15.38M | 3.03% |
| 39 | 14.89M | 2.93% |
| 33 | 14.67M | 2.89% |
| 23 | 13.79M | 2.71% |
| 20 | 13.29M | 2.61% |
| 22 | 12.38M | 2.44% |
Check Detailed Argentina-Uruguay Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with Uruguay is expected to hold steady in early 2025, driven by sustained demand for processed goods (HS Code 99, 27) and Uruguay’s reliance on raw material exports (HS Code 12). However, volatility in monthly trade flows—particularly the sharp December declines—suggests exporters should prepare for short-term fluctuations. Without major policy shifts, the Argentina - Uruguay trade forecast hinges on stable commodity prices and Uruguay’s industrial demand. Long-term growth will depend on Argentina maintaining its value-add advantage in key export sectors.
Strategic Moves
- Lock in Supply Chains: Argentine exporters of HS Code 99 and 27 should secure multi-quarter contracts with Uruguayan buyers to mitigate pricing swings and ensure consistent revenue.
- Diversify Import Sources: Given Argentina’s heavy reliance on HS Code 12 imports, traders must identify alternative suppliers in neighboring markets (e.g., Brazil, Paraguay) to reduce dependency risks.
- Monitor Currency Exposure: With volatile MoM trade swings, businesses should hedge peso-Uruguayan peso exchange rates to protect margins, especially ahead of Q1 2025 negotiations.
Frequently Asked Questions
How did Argentina - Uruguay trade perform in 2024 Q4?
Argentina exported $508.28M to Uruguay and imported $328.86M, with mixed YoY growth in exports and volatile surges in imports.
What are the top exports from Argentina to Uruguay?
The top exports are HS Code 99 (28.03% share) and HS Code 27, accounting for over 50% of total exports.
What does Argentina import from Uruguay?
Argentina primarily imports HS Code 12 (50.12% share), indicating a heavy reliance on raw materials or food security needs.
What is the trade balance between Argentina and Uruguay?
Argentina holds a trade surplus of $179.42M, with exports significantly outpacing imports.
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