Argentina’s Top Trading Partners

Argentina landscape

Argentina landscape

Argentina shipped US$58.1 billion worth of products around the globe in 2017. That figure represents an estimated 0.36% of overall global exports estimated at $15.952 trillion one year earlier in 2016.

From a continental perspective, $18 billion or 30.9% of Argentine exports by value are delivered to Latin America (excluding Mexico) and Caribbean countries, while 28.8% are sold to Asian importers. Argentina ships another 18.2% worth of goods to Europe.

Smaller percentages were shipped from Argentina to clients in North America at 11.1% and Africa at 8%.

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 2017. Also shown is each import country’s percentage of total Argentine exports.

  1. Brazil: US$9.3 billion (16% of total Argentine exports)
  2. United States: $4.5 billion (7.7%)
  3. China: $4.3 billion (7.4%)
  4. Chile: $2.6 billion (4.5%)
  5. Vietnam: $2.3 billion (3.9%)
  6. India: $2.1 billion (3.6%)
  7. Spain: $1.5 billion (2.6%)
  8. Algeria: $1.5 billion (2.5%)
  9. Netherlands: $1.4 billion (2.4%)
  10. Canada: $1.3 billion (2.3%)
  11. Egypt: $1.3 billion (2.2%)
  12. Switzerland: $1.3 billion (2.2%)
  13. Germany: $1.2 billion (2%)
  14. Uruguay: $1.2 billion (2%)
  15. Paraguay: $1.1 billion (1.9%)

Almost two-thirds (63.1%) of Argentine exports in 2017 were delivered to the above 15 trade partners.

From the above list of top importers, Algeria increased its import purchases from Argentina by the highest percentage up by 26.6% from 2016 to 2017. In second place was the Netherlands’ 17.4% gain followed by Paraguay’s 15.3% improvement and Canada’s 15.2% uptick in import purchases.

Leading the decliners were Egypt (down -29.6%), Vietnam (down -10.8%), Germany (down -8.9%) and Spain (down -7.8%).

Deficits

Overall Argentina posted a -$8.6 billion trade deficit during 2017, reversing a $2.1 billion surplus for 2016.

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.

Argentina incurred the highest trade deficits with the following countries:

  1. Brazil: -US$8.6 billion (country-specific trade deficit in 2017)
  2. China: -$8 billion
  3. United States: -$3.1 billion
  4. Germany: -$2.1 billion
  5. Mexico: -$1.4 billion
  6. France: -$967.7 million
  7. Thailand: -$733.2 million
  8. Bolivia: -$637.9 million
  9. Italy: -$635.6 million
  10. Qatar: -$429.8 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 2016 to 2017.

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.

Argentina incurred the highest trade surpluses with the following countries:

  1. Chile: US$1.7 billion (country-specific trade surplus in 2017)
  2. Vietnam: $1.6 billion
  3. Algeria: $1.5 billion
  4. India: $1.3 billion
  5. Egypt: $1.2 billion
  6. Peru: $912.5 million
  7. Netherlands: $884.8 million
  8. Indonesia: $727.5 million
  9. Switzerland: $680 million
  10. Uruguay: $668 million

Among Argentina’s trading partners that generate the greatest positive trade balances, Argentine surpluses with Saudi Arabia (up 46.3%), Peru (up 31.3%) and Algeria (up 30.7%) grew at the fastest pace from 2016 to 2017.

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.

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, Argentina’s Top 10 Imports and Most Valuable Argentine Export Products

Research Sources:
The World Factbook, Field Listing: Imports – Commodities, Central Intelligence Agency. Accessed on February 6, 2018

Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on February 6, 2018

Investopedia, Net Importer Definition. Accessed on February 6, 2018
Wikipedia, List of Companies of Argentina. Accessed on February 6, 2018

Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on February 6, 2018