Argentina flag Argentina: Visió econòmica i política

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.

 
Foreign Trade Values 20172018201920202021
Imports of Goods (million USD) 66,93065,48249,12442,35463,185
Exports of Goods (million USD) 58,62261,78165,11654,88477,935
Imports of Services (million USD) 24,66424,01419,15111,60412,835
Exports of Services (million USD) 14,52015,05713,9429,2379,359

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20172018201920202021
Foreign Trade (in % of GDP) 25.330.832.630.233.0
Trade Balance (million USD) -5,447-74318,23414,63118,696
Trade Balance (Including Service) (million USD) -15,143-9,67813,39112,09215,053
Imports of Goods and Services (Annual % Change) 15.6-4.5-18.7-18.522.0
Exports of Goods and Services (Annual % Change) 2.60.69.8-17.79.2
Imports of Goods and Services (in % of GDP) 14.016.314.713.614.9
Exports of Goods and Services (in % of GDP) 11.314.417.916.618.0

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20222023 (e)2024 (e)2025 (e)2026 (e)
Volume of exports of goods and services (Annual % change) -5.4-8.224.14.14.9
Volume of imports of goods and services (Annual % change) 12.3-4.215.91.52.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Argentina is a member of the following international economic organisations: Latin American and the Caribbean Economic System, WTO, Mercosur, IMF, G-15, G-20, G-24, G-77, ICC, among others. For the full list of economic and other international organisations in which participates Argentina click here. International organisation membership of Argentina is also outlined here.
Free Trade Agreements
The complete and up-to-date list of Free Trade Agreements signed by Argentina can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
Brazil 14.3%
China 9.0%
United States 7.6%
Chile 5.7%
India 5.1%
See More Countries 58.4%
Main Suppliers
(% of Imports)
2022
China 21.5%
Brazil 19.6%
United States 12.7%
Germany 3.3%
Bolivia 2.7%
See More Countries 40.2%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

88.5 bn USD of products exported in 2022
Oilcake and other solid residues, whether or not...Oilcake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil 12.9%
Maize or cornMaize or corn 10.5%
Soya-bean oil and its fractions, whether or not...Soya-bean oil and its fractions, whether or not refined (excl. chemically modified) 7.1%
Motor vehicles for the transport of goods, incl....Motor vehicles for the transport of goods, incl. chassis with engine and cab 4.7%
Wheat and meslinWheat and meslin 4.5%
See More Products 60.3%
81.5 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 8.3%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 5.2%
Parts and accessories for tractors, motor vehicles...Parts and accessories for tractors, motor vehicles for the transport of ten or more persons, motor cars and other motor vehicles principally designed for the transport of persons, motor vehicles for the transport of goods and special purpose motor vehicles of heading 8701 to 8705, n.e.s. 4.6%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 3.2%
Soya beans, whether or not brokenSoya beans, whether or not broken 2.6%
See More Products 76.1%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import Export Flows.

 

Main Services

Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Actualitzacions: November 2023

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