Argentina’s Top Trading Partners

Argentina landscape

Argentina landscape

Argentina shipped US$57.7 billion worth of products around the globe in 2016. That figure represents an estimated 0.36% of overall global exports estimated at $16.236 trillion one year earlier in 2015.

From a continental perspective, $17.8 billion or 30.8% of Argentina’s total exports by value in 2016 were delivered to Asian importers.

Other Latin American and Caribbean trade partners (excluding Mexico) purchased 29.6% of Argentine shipments, while 17.8% worth of products arrived in European countries.

At 11.1%, a smaller portion of Argentine exports were bought by North American importers, with 8.3% going to African customers.

Argentina’s Top Trading Partners

Top 15

Below is a list showcasing 15 of Argentina’s top trading partners, countries that imported the most Argentine shipments by dollar value during 2016. Also shown is each import country’s percentage of total Argentine exports.

  1. Brazil: US$9 billion (15.6% of total Argentine exports)
  2. United States: $4.5 billion (7.8%)
  3. China: $4.4 billion (7.7%)
  4. Vietnam: $2.5 billion (4.4%)
  5. Chile: $2.3 billion (4%)
  6. India: $2.2 billion (3.8%)
  7. Egypt: $1.8 billion (3.1%)
  8. Spain: $1.6 billion (2.8%)
  9. Germany: $1.3 billion (2.2%)
  10. Indonesia: $1.24 billion (2.2%)
  11. Netherlands: $1.17 billion (2.03%)
  12. Algeria: $1.16 billion (2.01%)
  13. Canada: $1.15 billion (1.99%)
  14. Switzerland: $1.14 billion (1.98%)
  15. Uruguay: $1.13 billion (1.96%)

Almost half (46.3%) of Argentine exports in 2016 were delivered to the above 15 trade partners.

From the above list of top importers, Vietnam increased its import purchases from Argentina by the highest percentage up by 365.3% from 2009 to 2016. In second place was India’s 240.6% gain followed by Egypt’s 202.9% improvement and Indonesia’s 105.9% uptick in import purchases.

Two of Argentina’s top trading partners reduced their import purchases from Argentina over the 7-year period, namely Spain (down -12.1%) and Germany (down -8.6%).

Deficits

As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.

It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.

In 2016, Argentina incurred the highest trade deficits with the following countries:

  1. China: -US$6 billion (country-specific trade deficit in 2016)
  2. Brazil: -$4.6 billion
  3. United States: -$2.5 billion
  4. Germany: -$1.8 billion
  5. France: -$1.1 billion
  6. Mexico: -$1 billion
  7. Thailand: -$560.4 million
  8. Italy: -$434 million
  9. Nigeria: -$367.1 million
  10. Taiwan: -$330.1 million

Among Argentina’s trading partners that cause the greatest negative trade balances, Argentine deficits with Brazil (up 939%), China (up 422.6%) and Mexico (up 339.7%) grew at the fastest pace from 2009 to 2016.

These cashflow deficiencies clearly indicate Argentina’s competitive disadvantages with the above countries, but also represent key opportunities for Argentina to develop country-specific strategies to strengthen its overall position in international trade.

Surpluses

Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus. Overall, Argentina posted a $2.1 billion trade surplus during 2016 down -87.4% from the $16.9 billion surplus in 2009.

In 2016, Argentina incurred the highest trade surpluses with the following countries:

  1. Vietnam: US$2.2 billion (country-specific trade surplus in 2016)
  2. Egypt: $1.8 billion
  3. Chile: $1.6 billion
  4. India: $1.5 billion
  5. Algeria: $1.1 billion
  6. Indonesia: $967.5 million
  7. Canada: $802.5 million
  8. Netherlands: $741.8 million
  9. Malaysia: $708.3 million
  10. Spain: $707 million

Among Argentina’s trading partners that cause the greatest positive trade balances, Argentine surpluses with India (up 438.1%), Vietnam (up 366.1%) and Canada (up 277.3%) grew at the fastest pace from 2009 to 2016.

These positive cashflow streams clearly indicate Argentina’s competitive advantages with the above countries, but also represent key opportunities for Argentina to develop country-specific strategies to optimize its overall position in international trade.

Companies

Companies Servicing Argentine Trading Partners

Not one of Argentina’s corporations ranks among Forbes Global 2000 for 2015.

Wikipedia also lists exporters from Argentina. Selected examples are shown below:

  • Al Este (wine)
  • Aluar (aluminum)
  • Bridas Corporation (oil, gas)
  • Bunge Limited (grains, oilseed)
  • Grupo Arcor (chocolates, cookies, ice cream)
  • La Serenísima (dairy products)
  • Loma Negra (cement)
  • SanCor (dairy products)
  • Transportadora de Gas del Sur (natural gas)
  • Zanella (motorcycles)


 
See also Argentina’s Top 10 Exports and Most Valuable Argentine Export Products

Research Sources:
The World Factbook, Field Listing: Imports – Commodities, Central Intelligence Agency. Accessed on March 10, 2017

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on March 10, 2017

Investopedia, Net Importer Definition. Accessed on March 10, 2017
Wikipedia, List of Companies of Argentina. Accessed on March 10, 2017

Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 10, 2017