Year over year, the overall value of Argentina’s exports accelerated by 13.4% compared to $77.8 billion in 2021.
Argentina is a relatively small player in international trade, responsible for about 0.4% of global export sales for all countries.
Argentina’s trading partners are relatively concentrated. The top 5 customers for Argentinian exports in 2022 were Brazil, mainland China, United States of America, Chile and India. Combined, that quintet of major importers for Argentinian products generated over two-fifths (41.6%) of Argentina’s total export sales during 2022.
Applying a continental lens, more than a third (34.6%) of Argentina’s exports by value was delivered to Asian countries while 31.9% was sold to importers in Latin America excluding Mexico but including the Caribbean. Argentina shipped another 15.3% worth of goods to Europe.
Smaller percentages went to North America (10%), Africa (7.2%) then Australia, New Zealand and Fiji in Oceania (1%).
Argentina’s Top Trading Partners
The list below showcases 25 of Argentina’s top trading partners, countries that imported the most Argentine shipments by dollar value during 2022. Also shown is each import country’s percentage of total Argentine exports.
- Brazil: US$12.6 billion (14.3% of Argentina’s total exports)
- China: $7.9 billion (9%)
- United States: $6.7 billion (7.6%)
- Chile: $4.9 billion (5.6%)
- India: $4.5 billion (5.1%)
- Netherlands: $3.6 billion (4%)
- Vietnam: $3.2 billion (3.7%)
- Peru: $2.4 billion (2.8%)
- Indonesia: $2.1 billion (2.4%)
- South Korea: $2 billion (2.3%)
- Spain: $1.7 billion (2%)
- Algeria: $1.6 billion (1.8%)
- Uruguay: $1.57 billion (1.8%)
- Malaysia: $1.49 billion (1.7%)
- Colombia: $1.42 billion (1.6%)
- Paraguay: $1.32 billion (1.5%)
- Saudi Arabia: $1.18 billion (1.3%)
- Mexico: $1.10 billion (1.2%)
- Switzerland: $1.09 billion (1.2%)
- Italy: $1.06 billion (1.2%)
- United Arab Emirates: $950.5 million (1.1%)
- Morocco: $943.9 million (1.1%)
- Egypt: $928.2 million (1.1%)
- Poland: $919.2 million (1%)
- Germany: $882.7 million (1%)
Well over three-quarters (77.3%) of Argentina’s exports in 2022 were delivered to the above 25 trade partners.
Egypt and Spain were the only top importers that decreased their purchases from Argentina from 2021 to 2022, down in value by -39.6% and -6.3% respectively. Among the other 23 top countries, gains ranged from a minimum of 0.1% for Vietnam and 2.2% for Paraguay up to 57.9% for Mexico, 39.3% for Saudi Arabia and 39% for Morocco.
Countries Causing Greatest Trade Deficits for Argentina
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.
- mainland China: -US$7.9 billion (country-specific trade deficit in 2022)
- United States of America: -$3 billion
- Brazil: -$2.6 billion
- Germany: -$1.7 billion
- Bolivia: -$1.6 billion
- Thailand: -$1.3 billion
- Paraguay: -$574.8 million
- France: -$556.7 million
- Italy: -$527.7 million
- Mexico: -$521.3 million
Among Argentina’s trading partners that cause the greatest negative trade balances, Argentinian deficits with Brazil (up 275.5%), Bolivia (up 229.3%) and the United States of America (up 220.9%) grew at the fastest pace from 2021 to 2022.
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.
Countries Resulting In Greatest Trade Surpluses for Argentina
Argentina generated an overall $12.1 billion trade surplus for 2022, dropping by -17.4% from $14.7 billion in black ink one year earlier in 2021.
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.
- Chile: US$4.2 billion (country-specific trade surplus in 2022)
- India: $2.8 billion
- Netherlands: $2.7 billion
- Peru: $2.2 billion
- Vietnam: $2 billion
- Indonesia: $1.7 billion
- Algeria: $1.43 billion
- South Korea: $1.37 billion
- Malaysia: $1.1 billion
- Colombia: $990.5 million
Among Argentina’s trading partners that generate the greatest positive trade balances, Argentinian surpluses with South Korea (up 27.9%), Colombia (up 27.7%) and Malaysia (up 24.6%) grew at the fastest pace from 2021 to 2022.
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 Servicing Argentina’s Trading Partners
Not one of Argentina’s corporations ranks among Forbes Global 2000.
Wikipedia lists smaller-scale 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 Top South American Export Countries
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles, Central Intelligence Agency. Accessed on April 19, 2023
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 19, 2023
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on April 19, 2023
Investopedia, Net Importer Definition. Accessed on April 19, 2023
Wikipedia, List of Companies of Argentina. Accessed on April 19, 2023
