Argentine trade exchange – First four months of 2023

Friday, 19 May 2023

In the first four months of the year, exports totalled US$ 21.8 billion –the second highest for that period since 2013–, while imports amounted to US$ 23.3 billion.


- Between January and April 2023 exports accumulate a year-on-year contraction of 21.3%, which is accounted for by a fall of 17.4% in quantities, while prices decreased 4.7%.

- Imports dropped 6.4%, as a result of a 6.8% contraction in quantities that outpaced the 0.4% increase in prices. This decrease was mainly explained by lower imported quantities of Passenger motor vehicles, Capital goods, Fuels and lubricants. On the other hand, the imports of Parts and accessories for capital goods increased, due to higher quantities and price rises.

- The trade balance recorded a deficit of US$ 1.5 billion, resulting from the greater contraction of exports than of imports, when in the same period of 2022 a surplus of US$ 2.8 billion had been achieved.

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- The largest export decreases were seen in wheat (−US$ 2.4 billion), soybean meal and pellets (−US$ 1.2 billion), maize (−US$ 851 million), biodiesel (−US$ 713 million), soybean oil (−US$ 616 million) and crude oil (−US$ 211 million). The main increases correspond to motor vehicles for the transport of goods of total weight equal to or less than 5 t (pick-ups, US$ 401 million); motor vehicles for the transport of people, with a cylinder capacity equal to or less than 1,000 cm3 (US$ 184 million); natural gas in gaseous state (US$ 181 million); fuel oil (US$ 107 million); and frozen shrimp and prawns (US$ 86 million).

- Regarding the soybean complex, an increase was recorded in the prices of beans, 36.5%, and flour and pellets, 6.3%, while those of crude oil (−19.8%) and biodiesel (−8.2%) fell. In relation to the quantities exported, decreases were observed in biodiesel (−79.7%), flour and pellets (−36.4%) and oil (−13.9%); while those of beans increased (192.2%).

- As for imports, there stand out the largest purchases of soybeans (US$ 1.2 billion) –for industry processing in the context of drought that reduces local production–, iron or steel pipes –used in oil and gas pipelines– (US$ 211 million), and electrical energy (US$ 196 million), while purchases of diesel oil (−US$ 601 million), vaccines (−US$ 176 million) and automatic machine units for data handling or processing (−US$ 160 million) decreased.

- The three main partners, Brazil, China and the United States, absorbed as a whole 33.1% of the exports and supplied 52.6% of the imports from January-April 2023. In turn, the European Union concentrated 10.7% of shipments and 14.4% of purchases.

- The largest surpluses were in trade with Chile (US$ 1.3 billion), Peru (US$ 881 million), Colombia (US$ 435 million) and India (US$ 383 million).

- The highest deficits were recorded with China (US$ 2.6 billion), Brazil (US$ 1.8 billion), Paraguay (US$ 1.2 billion), Germany (US$ 709 million), United States (US$ 661 million) and Thailand (US$ 493 million).

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