Imports

The total value of Argentina's imports from around the world in 2022 is $76.2 billion. From 2021 to 2022, the overall cost of goods imported into Argentina increases by 20.5% from $63.2 billion.

Argentina's Best International Trade Customers

From a continental perspective, more than one-third (35.7%) of Argentina's total imports in 2022 are purchased from Asia. Latin American trading partners, excluding Mexico, provide 29.8% of the value. Another 16.2% comes from Europe and 15.6% from North America. Africa (2.1%) and Oceania (0.6%) accounted for smaller shares, with Australia leading the way.

Argentina's Top 10 Imports

1. Fossil fuels including oil: $12.1 billion (15.9% of total imports)

2. Machinery including computers: $10.9 billion (14.3%)

3. Electrical machinery and equipment: $8.1 billion (10.6%)

4. Vehicles: $7.5 billion (9.8%)

5. Organic chemicals: $4.2 billion (5.5%)

6. Plastics, plastic products: $3.35 billion (4.4%)

7. Pharmaceuticals: $3.08 billion (4%)

8. Fertilizers: $2.5 billion (3.3%)

9. Oilseeds: $2.1 billion (2.8%)

10. Steel: $1.8 billion (2.3%)

The top 10 product categories accounted for nearly three-quarters (73%) of Argentine buyers' total import expenditures.

The fastest-growing of Argentina's major import product categories is fossil fuels, including petroleum, which grows 108.3% from 2021 to 2022. In second place are imports of organic chemicals (up 26.2%), ahead of electrical machinery and equipment (up 22%) and vehicles (up 16.3%).

The largest year-over-year decline was in Argentine oilseed imports, down -21.9%.

At the more detailed 4-digit HTS code level, Argentina's most valuable imports were refined petroleum (8.4% of the total), liquefied petroleum gas (5.3%), automobile parts or accessories (4.6%), telephone equipment including smartphones (3.3%) , soybeans (2.7%), automobiles (2.6%), blood components including antisera (2.1%), fertilizer mixtures ( 1.8%), computers (1.7%) and drug mixtures (1.6%).

Exports

The Republic of Argentina, located in the southern half of South America, exported $88.3 billion worth of products to the world in 2022. Compared to $77.8 billion in 2021, Argentina's exports are up 13.4% year-over-year.

Argentina's Best International Trade Customers

The latest country-specific data shows that Argentina's exports are mainly purchased by importers from Brazil (14.3% of Argentina's total), mainland China (9%), the United States (7.6%), Chile (5.6%), India (5.1%), the Netherlands (4%), Vietnam (3.7%), Peru (2.8%), Indonesia (2.4%), South Korea (2.3%), Spain (2.3%), and the United States (2.4%). ), Spain (2%) and Algeria (1.8%).

Argentina's Top 10 Exports

1. Cereals: $14.4 billion (16.4% of total exports)

2. Food industry waste, animal feed: $9.7 billion (11.0%)

3. Animal and vegetable fats, oils, waxes: $7.8 billion (8.8%)

4. Vehicles: $7.5 billion (8.5%)

5. Fossil fuels including oil: $5.8 billion (6.5%)

6. Oilseeds: $4.2 billion (4.8%)

7. Meat: $4 billion (4.6%)

8. Other chemicals: $2.8 billion (3.2%)

9. Gems, precious metals: $1.8 billion (2.1%)

10. Fish: $1.7 billion (2.0%)

Argentina's top ten exports accounted for about two-thirds (67.7%) of the total value of its global exports.

Fossil fuels, including petroleum, are the fastest growing of the top ten export categories, growing by 35.7% from 2021 to 2022. Second in terms of improvement in export sales was meat, which grew by 18.7%. Argentina had the third highest increase in automobile shipments, up 16 percent.

The largest decline in Argentina's top 10 export categories was in Food Industry Waste and Animal Feeds, down -22.4%.

At the detailed 4-digit HS code level, Argentina's most valuable exports were corn, soybean oil cake and other solid residues, soybean oil, trucks, wheat, soybeans, crude oil, frozen beef, biodiesel, and automobiles. Overall, these exports account for about 44.2% of Argentina's total export sales in 2022.

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