Xifres de comerç exterior d'Argentina

Foreign Trade in Figures

Argentina has been a relatively closed market to international trade, which accounted for 33% of its GDP in 2021 (World Bank). Nevertheless, the government has been trying to reduce protectionism and president Fernández is seeking a mature relationship with China and the US. The country's main exports include maize (10.8%), oil-cake and other solid residues (9.4%), soy-bean oil and soya beans (6.9%), motor vehicles (4.1%), and wheat and meslin (3.1%); while it imports auto parts and accessories (4.6%), petroleum gas and other gaseous hydrocarbons (4.5%), soya beans (4.2%), petroleum gas and other gaseous hydrocarbons (3.4%), and telephone sets (3.2%). According to IMF Foreign Trade Forecasts, the volume of exports of goods and services increased by 0.7% in 2022 and is expected to record a growth of 3.9% in 2023, while the volume of imports of goods and services increased by 14.4% in 2022 and is expected to decrease to - 4.5% in 2023.

As part of the Mercosur, Brazil is Argentina’s main trade partner for both exports and imports, followed by China, the United States, India, Chile, Paraguay, and Germany. Even though the relationship between Brazil and Argentina deteriorated during Bolsonaro’s government, the countries have been growing closer since the inauguration of the newly-elected Brazilian president, Lula, in January 2023. As such, the countries have been working to foster stronger trade ties and introducing a common currency. Additionally, even though Mercosur has been facing a fragile state, with a weak institutional structure and ideological differences between its members, the bloc has been looking into signing a bilateral agreement with China in a plan to modernise and open it to other regions. Furthermore, the bloc's member countries have pushed to intensify negotiations between the EU and Mercosur and firm up a trade agreement between the two.

According to the last available data from WTO, Argentina exported USD 77.9 billion worth of goods in 2021, and imported USD 63.1 billion. As for services, the country imported USD 12.8 billion and exported USD 9.3 billion. Overall, imports increased 22% compared to the previous year, while exports increased 9.2%, resulting on an overall trade balance of USD 18.6 billion.