Argentine trade exchange - Year 2022

Highlights:

• In 2022, exports reached US$ 88.4 billion and set a new record. The value exported exceeded by more than US$ 5.4 billion the previous historical mark reached in 2011, and by more than US$ 23.3 billion the value exported in 2019. Year-on-year growth was 13.5%, explained by an increase in prices (16.2%) and a decrease in quantities (−2.3%).
• Annual imports totalled US$ 81.5 billion (a 29.0% y-o-y increase), making up its highest historic value. The imports were driven by higher prices and quantities of Fuels and lubricants, and by increases in the prices of Intermediate goods and quantities of Capital goods and their parts.
• The trade balance achieved a surplus of US$ 6.9 billion, US$ 7.8 billion less than the positive result of 2021, resulting from the greater pace of growth of imports than exports.
• Exported values of all major items increased: Manufactures of industrial origin (+US$ 3.1 billion), Fuels and energy (+US$ 3.1 billion), Manufactures of agricultural origin (+US$ 2.2 billion) and Primary products (+US$ 2.1 billion).
• Exports of the soybean complex reached an all-time high (US$ 24.2 billion). Record export values were also recorded for wheat, maize, boneless, chilled and frozen meat, barley, crude oil and lithium, among others. Among industrial goods, exports of the automotive complex stood out (US$ 8,7 billion), with a growth of 22.5%. Exports of pharmaceuticals also reached the second highest historical value, after 2015.
• Regarding imports, there stand out the highest purchases of diesel oil (US$ 2.6 billion), liquefied natural gas (US$ 1.4 billion), gaseous natural gas (US$ 0.7 billion), gasoline, excluding that for aviation (US$ 0.6 billion), and fuel oil (US$ 0.5 billion), while those of soybeans (−US$ 0.5 billion) and vaccines (−US$ 0.5 billion) decreased.     

• The three main partners, Brazil, China and the United States, absorbed as a whole 30.9% of the exports and supplied 53.8% of the imports in 2022. In turn, the European Union concentrated 12.3% of shipments and 13.6% of purchases.
• The largest surpluses were in trade with Chile (US$ 4.2 billion), India (US$ 2.7 billion), the Netherlands (US$ 2.7 billion), Peru (US$ 2.1 billion) and Vietnam (US$ 2.0 billion).
• The highest deficits were recorded with China (US$ 9.5 billion), United States (US$ 3.7 billion), Brazil (US$ 3.4 billion), Germany (US$ 1.8 billion) and Bolivia (US$ 1.7 billion).