Argentina - Vietnam Trade 2024 Q2: Widening Surplus
Key Market Takeaways: Argentina - Vietnam Trade
The bilateral trade relationship between Argentina and Vietnam reflects a widening surplus for Argentina amid volatile demand shifts in Q2 2024.
- Economic Pulse: Argentina holds a $730M trade surplus (exports: $864M, imports: $134M), with exports outpacing imports by 6.4x. Volatility spiked in June (-22% MoM export drop).
- Exchange Structure: Argentina-Vietnam trade statistics reveal a resource-for-tech model—Argentina supplies low-processed commodities (HS 23: 47% share) while importing Vietnamese electronics (HS 85: 44% share).
- Strategic Interdependence: Highly complementary but asymmetric: Vietnam commands higher value-add in finished goods, while Argentina’s export concentration risks exposure to demand shocks.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Vietnam Trade Trend in Q2 2024
Argentina Export Performance: Shipments to Vietnam
- Total Volume: $864.11M in Q2 2024.
- Growth Trend & Context:
- Mixed YoY performance: Strong growth in April (+35.59%) and May (+41.6%), but a sharp reversal in June (-22.35%).
- No specific trade news to explain the volatility.
- Key Volatility: June saw a -25.26% MoM drop, the steepest decline in the quarter.
Argentina Import Performance: Sourcing from Vietnam
- Total Volume: $134.04M in Q2 2024.
- Growth Trend & Context:
- Consistently negative YoY trends: -79.87% (April), -57.51% (May), -62.84% (June).
- No news to contextualize the contraction.
- Key Volatility: May recorded the highest MoM surge (+84.04%), though volumes remained subdued historically.
Argentina - Vietnam Trade Balance & Market Dynamics
- Net Position: Argentina holds a $730.07M trade surplus with Vietnam (Exports: $864.11M, Imports: $134.04M).
- Relationship Status: Argentina is a dominant net exporter, with exports exceeding imports by 6.4x in Q2. The widening surplus reflects Vietnam’s reduced demand for Argentine goods or potential supply-side constraints.
Argentina Import Trend from Vietnam 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 30.31M | 14.99% | -79.87% |
| May | 55.78M | 84.04% | -57.51% |
| Jun | 47.95M | -14.03% | -62.84% |
| Total | 134.04M | - | - |
Argentina Export Trend to Vietnam 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 333.83M | 4.05% | 35.59% |
| May | 303.48M | -9.09% | 41.6% |
| Jun | 226.81M | -25.26% | -22.35% |
| Total | 864.11M | - | - |
Get Historical Argentina Vietnam Trade Records
Argentina-Vietnam Top Trading Products in Q2 2024
Argentina Export Profile: What Does Argentina Sell to Vietnam
- Top Commodity: Rank #1 export is HS Code 23 (47.23% share), likely animal feed or residues from food industries.
- Demand Driver: Vietnam uses these for industrial processing, possibly in feed production or biofuel.
- Concentration: Trade is highly concentrated, with the top two codes (HS 23 + HS 10) accounting for 92.39% of exports.
Argentina Import Profile: What Does Argentina Buy from Vietnam
- Top Commodity: Rank #1 import is HS Code 85 (43.89% share), covering electrical machinery/electronics.
- Dependency Nature: Critical technology dependency, as Vietnam supplies high-value electronics and machinery components.
Argentina - Vietnam Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports raw materials (animal feed, cereals) while importing tech-heavy goods (electronics, footwear).
- Value Chain Position: Vietnam holds the higher value-add position, dominating with finished electronics (HS 85) and footwear (HS 64), while Argentina supplies low-processed commodities.
Import Analysis by Product: Vietnam to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 58.82M | 43.89% |
| 64 | 38.92M | 29.04% |
| 84 | 13.36M | 9.97% |
| 61 | 5.00M | 3.73% |
| 62 | 4.41M | 3.29% |
| 40 | 2.08M | 1.55% |
| 73 | 1.11M | 0.83% |
| 90 | 1.08M | 0.81% |
| 42 | 955.37K | 0.71% |
| 76 | 954.18K | 0.71% |
Export Analysis by Product: Argentina to Vietnam (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 23 | 408.10M | 47.23% |
| 10 | 390.26M | 45.16% |
| 99 | 20.03M | 2.32% |
| 52 | 14.39M | 1.66% |
| 41 | 11.53M | 1.33% |
| 03 | 6.43M | 0.74% |
| 02 | 4.10M | 0.47% |
| 44 | 3.06M | 0.35% |
| 05 | 2.32M | 0.27% |
| 29 | 2.18M | 0.25% |
Check Detailed Argentina-Vietnam Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Argentina-Vietnam Trade
Argentina’s trade surplus with Vietnam is likely to persist in Q3 2024, driven by sustained demand for raw materials (HS 23 and HS 10) despite June’s volatility. However, the sharp decline in Vietnamese imports signals weakening demand for Argentine goods, possibly due to shifting supply chains or economic slowdowns in Vietnam. Exporters should brace for potential price fluctuations in key commodities, while importers of Vietnamese electronics (HS 85) must monitor supply stability amid declining volumes. The Argentina-Vietnam trade forecast hinges on Vietnam’s industrial demand recovery and Argentina’s ability to diversify beyond low-value exports.
Strategic Moves for Traders & Policymakers
- Lock in Long-Term Feed Contracts: Argentine exporters of animal feed (HS 23) should secure multi-year agreements with Vietnamese buyers to mitigate price swings and ensure stable revenue streams.
- Diversify Tech Imports: Argentine importers reliant on Vietnamese electronics (HS 85) must explore alternative suppliers in Southeast Asia to reduce dependency amid Vietnam’s export contraction.
- Push for Trade Diplomacy: Argentine trade officials should negotiate tariff reductions or quotas for high-value processed goods to shift from a raw-material-heavy export profile and capture more value in the supply chain.
Frequently Asked Questions
How did Argentina - Vietnam trade perform in 2024 Q2?
Argentina's exports to Vietnam totaled $864.11M, with mixed YoY growth (strong in April-May, sharp decline in June). Imports from Vietnam fell consistently, totaling $134.04M with negative YoY trends across all months.
What are the top exports from Argentina to Vietnam?
Argentina's top exports to Vietnam are HS Code 23 (animal feed/residues) and HS Code 10 (cereals), together accounting for 92.39% of total exports.
What does Argentina import from Vietnam?
Argentina primarily imports HS Code 85 (electrical machinery/electronics) from Vietnam, making up 43.89% of total imports, reflecting a tech-heavy dependency.
What is the trade balance between Argentina and Vietnam?
Argentina holds a $730.07M trade surplus with Vietnam, with exports exceeding imports by 6.4x in Q2 2024, indicating a widening surplus.
Argentina - Vietnam Trade 2024 Q1: Surplus Soars
Argentina's trade surplus with Vietnam hit $575.49M in Q1 2024, driven by booming cereal exports. Explore Argentina Vietnam trade trends and top trading products via yTrade data.
Argentina - Vietnam Trade 2024 Q3: $707.63M Surge
Argentina Vietnam trade trend shows a $707.63M surplus, driven by food waste exports and electronics imports. Explore Argentina Vietnam top trading product insights via yTrade data.
