Argentina - Vietnam Trade 2024 Q1: Surplus Soars
Key Market Takeaways: Argentina - Vietnam Trade
The bilateral trade relationship between Argentina and Vietnam surged with Argentina dominating as a net exporter in Q1 2024.
- Economic Pulse: Argentina posted a $575.49M trade surplus ($674.97M exports vs. $99.48M imports), driven by explosive export growth (+75.8% YoY peak) and a sharp collapse in Vietnamese imports (-80.85% YoY low).
- Exchange Structure: Argentina - Vietnam trade statistics reveal a resource-for-manufactures model—Argentina supplies cereals (44.63% of exports) and oilseed residues, while Vietnam ships footwear (36.83% of imports) and consumer goods.
- Strategic Interdependence: Highly complementary but imbalanced, with Vietnam adding value through manufacturing while Argentina remains a commodity exporter.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Vietnam Trade Trend in Q1 2024
Argentina Export Performance: Shipments to Vietnam
- Total Volume: $674.97M in Q1 2024.
- Growth Trend & Context:
- YoY growth surged (+75.8% in Jan, +256.55% in Mar), indicating explosive demand. No policy shifts were reported to explain this.
- Key Volatility: March saw a 57.01% MoM jump, the sharpest monthly increase.
Argentina Import Performance: Sourcing from Vietnam
- Total Volume: $99.48M in Q1 2024.
- Growth Trend & Context:
- YoY imports collapsed (-69.26% in Jan, -80.85% in Mar), signaling a severe pullback in Vietnamese goods.
- Key Volatility: January recorded the highest absolute value ($40.65M), but all months posted >18% MoM declines.
Argentina - Vietnam Trade Balance & Market Dynamics
- Net Position: Argentina holds a $575.49M trade surplus with Vietnam (Exports: $674.97M, Imports: $99.48M).
- Relationship Status: Argentina dominates as a net exporter, with Vietnamese imports shrinking to marginal levels. No rebalancing observed.
Argentina Import Trend from Vietnam 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 40.65M | -20.0% | -69.26% |
| Feb | 32.47M | -20.12% | -72.95% |
| Mar | 26.36M | -18.83% | -80.85% |
| Total | 99.48M | - | - |
Argentina Export Trend to Vietnam 2024 Q1 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 149.78M | 33.38% | 75.8% |
| Feb | 204.35M | 36.43% | 99.54% |
| Mar | 320.84M | 57.01% | 256.55% |
| Total | 674.97M | - | - |
Get Historical Argentina Vietnam Trade Records
Argentina-Vietnam Top Trading Products in Q1 2024
Argentina Export Profile: What Does Argentina Sell to Vietnam
- Top Commodity: Cereals (HS Code 10) dominate exports, accounting for 44.63% of total value.
- Demand Driver: Vietnam uses these for industrial processing (e.g., animal feed production) and food security.
- Concentration: Trade is highly concentrated, with cereals and oilseed residues (HS Code 23) jointly making up 88.42% of exports.
Argentina Import Profile: What Does Argentina Buy from Vietnam
- Top Commodity: Footwear (HS Code 64) leads imports, representing 36.83% of total value.
- Dependency Nature: Consumer goods (footwear, apparel, plastics) dominate, indicating reliance on Vietnam for affordable manufactured products.
Argentina - Vietnam Trade Relationship Dynamics
- The Exchange Model: Resource-for-Manufactures Complementarity. Argentina exports raw materials (cereals, oilseeds) and imports finished consumer goods (footwear, electronics).
- Value Chain Position: Vietnam holds the higher value-add position, supplying processed/manufactured goods, while Argentina remains a commodity exporter.
Import Analysis by Product: Vietnam to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 64 | 36.64M | 36.83% |
| 85 | 24.86M | 24.99% |
| 84 | 11.69M | 11.75% |
| 62 | 5.40M | 5.43% |
| 61 | 3.85M | 3.87% |
| 39 | 2.25M | 2.26% |
| 40 | 2.13M | 2.14% |
| 95 | 1.81M | 1.82% |
| 59 | 1.66M | 1.67% |
| 90 | 1.26M | 1.27% |
Export Analysis by Product: Argentina to Vietnam (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 10 | 301.21M | 44.63% |
| 23 | 295.55M | 43.79% |
| 99 | 43.51M | 6.45% |
| 03 | 8.85M | 1.31% |
| 41 | 7.95M | 1.18% |
| 52 | 5.15M | 0.76% |
| 02 | 4.09M | 0.61% |
| 05 | 3.06M | 0.45% |
| 30 | 2.32M | 0.34% |
| 44 | 1.79M | 0.27% |
Check Detailed Argentina-Vietnam Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade surplus with Vietnam is set to widen further in Q2 2024, driven by sustained Vietnamese demand for cereals and oilseed residues. The explosive YoY growth in exports (+75.8% in Jan, +256.55% in Mar) suggests no immediate slowdown, while Vietnamese imports continue their sharp decline (-69.26% in Jan, -80.85% in Mar). Without policy intervention, this lopsided trade dynamic will solidify Argentina’s role as a commodity exporter and Vietnam’s retreat as a supplier of consumer goods. Traders should prepare for heightened volatility in cereal shipments, given the erratic monthly spikes (e.g., +57.01% MoM in March).
Strategic Moves
- Lock in Cereal Contracts: Argentine exporters must secure long-term agreements with Vietnamese buyers to capitalize on soaring demand and mitigate price swings.
- Diversify Import Sources: With Vietnamese footwear and apparel imports collapsing, Argentine businesses should pivot to alternative low-cost manufacturing hubs like Bangladesh or Indonesia to stabilize supply chains.
- Push for Trade Rebalancing: The Argentine government should negotiate tariff reductions on high-value Vietnamese tech or machinery imports to reduce reliance on raw material exports and upgrade domestic industrial capacity.
Frequently Asked Questions
How did Argentina - Vietnam trade perform in 2024 Q1?
Argentina's exports to Vietnam surged (+75.8% YoY in Jan), reaching $674.97M, while imports collapsed (-69.26% YoY in Jan), totaling $99.48M.
What are the top exports from Argentina to Vietnam?
Cereals (HS Code 10) dominate, accounting for 44.63% of exports, followed by oilseed residues (HS Code 23), jointly making up 88.42% of total exports.
What does Argentina import from Vietnam?
Footwear (HS Code 64) leads imports at 36.83% of total value, alongside other consumer goods like apparel and plastics.
What is the trade balance between Argentina and Vietnam?
Argentina holds a $575.49M trade surplus with Vietnam, driven by booming exports and sharply declining imports. No rebalancing is observed.
Argentina - Vietnam Trade 2024 Whole Year: Surplus & Tech Exchange
Argentina's $2.5B trade surplus with Vietnam highlights a resource-for-tech dynamic, with agricultural exports meeting high-value electronics. Explore Argentina Vietnam trade trends & top trading products via yTrade data.
Argentina - Vietnam Trade 2024 Q2: Widening Surplus
Argentina's trade surplus with Vietnam hit $730M in Q2 2024, driven by resource-for-tech exchanges. Explore Argentina Vietnam trade trends and top trading products via yTrade data.
