Xifres de comerç exterior d'Argentina

Foreign Trade in Figures

Argentina is a relatively closed market to international trade, which accounts for around 27% of its GDP (World Bank, latest data available). In 2023, the country's main exports included oilcake and other solid residues (11%), maize or corn (9.2%), motor vehicles for the transport of goods (6.5%), soya-bean oil and its fractions (5.9%), petroleum oils (5.6%); while imports were led by soya beans (7.6%), parts and accessories for tractors and motor vehicles (5.9%), petroleum oils (4.9%), petroleum gas (3.6%), and telephone sets (3.2% - data Comtrade). Data from INDEC show that the top 50 products out of 5,103 accounted for 75.6% of total exports. The largest export sectors were soybeans (20.9%), automotive (13.3%), oil and petrochemicals (12.6%), corn (9.6%), and beef and leather (5.3%), among others.

In terms of trading partners, the main export destinations in 2023 were Brazil (17.8%), the United States (8.5%), China (7.7%), Chile (7.4%), and Peru (3.8%). Conversely, imports came chiefly from Brazil (23.5%), China (19.6%), the United States (11.7%), Paraguay (5.3%), and Germany (3.8% - data Comtrade). Argentina signed several trade agreements. An important one is that between the EU and Mercosur, which seeks to reduce tariffs and improve market access among the two blocks. Signed in 2019 after two decades of talks, on 6 December 2024, an agreement on the free trade deal was announced. It is not yet approved and requires endorsement from all 27 EU member countries.

Argentina's trade balance is generally positive, although it fluctuated in recent years. According to the last available data from WTO, Argentina exported USD 66.7 billion worth of goods in 2023 and imported USD 73.7 billion (-24.4% and -9.5% year-on-year, respectively). As per services, exports stood at USD 16.5 billion (+13.8%) against USD 22.9 billion in imports (+6.9%). Therefore, the country’s trade balance was estimated to be negative -1.1% of GDP by the World Bank. Preliminary governmental figures for 2024 show that exports totalled USD 79.7 billion, up 19.4% year-on-year, driven by a 26.7% rise in volumes, despite a 5.8% price drop. Imports fell 17.5% to USD 60.8 billion, due to declines in both prices (-4.0%) and quantities (-14.0%), mainly in fuels and intermediate goods. However, motor vehicle imports rose. The trade balance shifted to a surplus of USD 18.9 billion, compared to a deficit of USD 6.9 billion in 2023.