Exporting to Argentina - Trade Finance Global

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Exporting to Argentina

Last updated on 04 Aug 2024
14 Mar 2019 . 2 min read

Argentina Country Profile

Official Name (Local Language) Republica Argentina

Capital Buenos Aires

Population 43,886,748

Currency Argentine Peso

GDP $541.7 billion

Languages Spanish

Phone Dial In 54

Argentina Imports Profile

Imports ($m USD) 66,899

Number of Imports Products 4,102

Number of Imports Partners 185

Argentina Economic Statistics






Government Website
https://www.argentina.gob.ar/
Sovereign Ratingshttps://countryeconomy.com/ratings/argentina
Central BankBanco Central de la República Argentina
Currency USD Exchange Rate14.92
Unemployment Rate8%
Population below poverty line32.2%
Inflation Rate42.8%
Prime Lending Rate32.3%
GDP$541.7billion
GDP Pro Capita (PPP)$20,200
Currency NameArgentine Peso
Currency CodeARS
World Bank ClassificationUpper Middle Income
Competitive Industrial Performance104/138
Corruption Perceptions Index85/180
Ease of Doing Business119/190
Enabling Trade Index94/136

Silvia Andreoletti
Silvia is a Reporter at Trade Finance Global. She is also currently finishing her BA in Philosophy, Politics, and Economics at New College, Oxford, with a focus on financial markets, game theory, and international relations.

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Exporting to Argentina

Argentina is one of the largest economies in Latin America, with a highly skilled workforce and sometimes unstable politics. Argentina’s main imports are oil and gas, motor vehicles, machinery, and technological equipment. Its main import sources are China, Brazil, the US, and Germany. Argentina has a resilient economy and a government which is committed to strengthening the country’s macroeconomic outlook. However, growth has been lower than expected in recent years, and even when GDP seems to be rising, other indicators such as inflation and poverty rates remain high. 

Argentina’s economy is relatively closed to trade, as the government has tried to preserve its falling foreign exchange reserves by imposing import restrictions and heavy regulatory burdens on imported goods. These can cause long delays, which are sometimes worsened by difficulty in accessing the official foreign exchange market to pay for exports in dollars. Import restrictions, both official and non-tariff barriers, are unlikely to decrease until the economic situation improves. Currently, the government is struggling to rein in high inflation, and state debt is rising; public confidence is low, and worsened by the wide gap between official and actual exchange rates. A proposed policy of dollarisation, championed by the new president elected in 2023, could stabilise prices and make importing a smoother process, but may come at the cost of uncompetitive exports. 

Buenos Aires, the capital, houses the largest port in South America and is home to almost half of Argentina’s population. The port is a crucial trade hub in the continent, receiving consumer goods and machinery from all over the world for distribution across Latin America. It was privatised in 1994 and has seen much infrastructural investment since then, which is likely to continue and make imports smoother and reduce delays. 

Chart Showing GDP Growth Compared to rest of world

GDP Composition for China

Agriculture

4%

Sunflower seeds, lemons, soybeans, grapes, corn, tobacco, peanuts, tea, wheat; livestock

Industry

30.2%

Food processing, motor vehicles, consumer durables, textiles, chemicals and petrochemicals, printing, metallurgy, steel

Services

58.4%

Map

Top 5 Import Partners

CountryTrade% Partner Share
Brazil17,87026.71
China12,31418.41
United States7,63511.41
Germany3,2294.83
Mexico2,0813.11

Top 5 Import Products

Export ProductNumber
Automobiles with reciprocating piston engine di
9.4%
Petroleum oils, etc, (excl. crude); preparation
4.2%
Automobiles with reciprocating piston engine di
3.4%
Parts of electrical apparatus for line telephon
3.6%
Natural gas in gaseous state
3.1%

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