Argentinas economy, which is one of the more powerful in the region, is dependent on services and manufacturing, although agribusiness and ranching dominated the economy for much of the 19th and 20th centuries. In 2019, Argentina's main export partner country was Brazil, with a share of 16 percent in exports. Argentina Major Exports. In 2020, Argentina major trading partner countries for exports were Brazil, China, United States, Chile and Vietnam and for imports they were China, Brazil, United States, Paraguay and Germany . Heres a List of Argentinas Top Exports and Value as of 2018: Argentinas mineral fuels and oil are the fastest-growing commodities out of all their top exports. What does France import to Canada? For example, Argentina's Exports rank is higher than 76.47% of the countries in the dataset. API users can feed a custom application. Due to Argentina's position in the Southern Hemisphere, off-season (or counter-seasonal) production of corn and soybean seed has generated positive returns in the last few years. The South American country is one of the worlds main crop producing nationsresponsible for up to 54% of their exportsmaking crops in general the main export of Argentina. This all thanks to measures taken by the Argentine government in increase their trade and exports. Aaron O'Neill. Soybeans are a major source of export revenue for Argentina. The main import partners of Argentina are Brazil, US, Germany, Italy and Spain. The entry of grains cargo trucks at port facilities in Argentina's main export hub of Rosario on the Parana River fell dramatically, according to data from the Rosario grains exchange. Soybeans. Argentina's main exports include animal feed, cereals, motor vehicles and parts, petroleum and gas, and soybeans. The leading industries include food processing, automobiles, appliances and electronics . These crops include wheat, soybeans, corn, barley, rice, flax seed, sugarcane, cotton, citrus fruits, and grapes. In addition, Argentina is a founding member of the United Nations, WTO, World Bank Group,. BIS officials conduct site visits, known as End-Use Checks (EUCs), globally with end-users, consignees, and/or other parties to transactions involving items subject to the EAR to verify compliance. At the same time, growing government spending, large wage raises, and inefficient production created a chronic inflation that rose through the 1980s, when it briefly exceeded an annual rate of 1,000 percent. Argentina Country Profile Argentina Exports Profile Exports ($m USD) Facing a Foreign Trade AD/CVD or Safeguard Investigation? In 2018, Argentina imported about $65.4 billion dollars worth of goods from around the world. USDA pencilled Argentina exports at 14Mt in the 2022-23 trade year beginning July 1. How they're determined and calculated varies from country to country", Klaus Lydsal, vice president of operations at iContainers, I'd like to get pricing alerts, new available routes, & relevant information from iContainers (optional). There are a variety of main exports in Argentina. Please check your download folder. juices) ($7 million). Exports The top exports of Argentina are Soybean Meal ($7.89B), Corn ($6.46B), Soybean Oil ($3.9B), Soybeans ($2.31B), and Delivery Trucks ($2.3B), exporting mostly to Brazil ($7.67B), China ($5.41B), United States ($3.47B), Chile ($2.91B), and Vietnam ($2.87B). Further, being that the European Union is Argentina's . Claims are also made on some of the Antarctic and on the British Falkland Islands. Login, By submitting the form, you accept our privacy policy, An error occurred sending trying to register your data. The economy of Argentina is based on diverse sectors. In response the government invested heavily in such basic industries as petroleum, natural gas, steel, petrochemicals, and transport; it also invited investment by foreign companies. Top exports for Argentina are foodstuffs (more than half is soy based), vehicles, cereal, animal/vegetable fats and meat. Secure .gov websites use HTTPS Figure 1. Argentina Exports 1962-2022. GDP of Argentina is $578.7 billion (nominal) (24th, 2015) $964.3 billion (PPP) (24th, 2015) and GDP growth 2.1% (2015) GDP per capita in 2015 $13,428 (nominal), $22375 (PPP). According to the Observatory of Economic Complexity (OEC), Argentina has the 45th largest export economy in the world. Almost half of the trade in agriculture is in livestock. Argentina main imports are: intermediate goods (29 percent of total imports), parts and accessories for capital goods (20 percent), capital goods (19 percent), fuels and lubricants (13 percent) and motor vehicles (8 percent). Main export partners are: Brazil (21 percent of total exports), China (7 percent), Chile (6 percent), United States (5 percent) and Spain (4 percent). Travel and transport are the leading service exports for Argentina to the United States. The country's major exports are still agricultural products, notably grain; also important are petroleum, machinery and transport equipment, and chemicals. Argentina's government is set to announce measures, potentially within days, to allow wheat exporters to delay agreed shipments after a major drought hammered the crop, raising concern about domestic supply. For advice and regulatory requirements on items under the export control jurisdiction of other U.S. Government agencies, exporters should consult other U.S. Government agencies. Due to the countrys location, theyre major destinations for export include: Argentina also exports commodities to India (making up 3.6% of its export destinations), and Spain (making up 2.6% of its export destinations). Despite periods of economic problems in the 20th and early 21st centuries, Argentina is today one of the wealthiest Latin American countries. Argentina's organic crops include sugar cane, raw wool, fruits, vegetables and beans. Contact information for BISs overseas ECOs can be found at: https://www.bis.doc.gov/index.php/enforcement/oea/eco. The economy of Argentina is the second-largest national economy in South America, behind Brazil. Washington, DC 20230. The Bureau of Industry and Security . Argentina's top 10 exports were roughly two-thirds (67.4%) of the overall value of its global shipments. The most recent exports are led by Frozen Bovine Meat ($1.26B), Sulfate Chemical Woodpulp ($1.18B), Rice ($475M), Concentrated Milk ($470M), and Soybeans ($363M). By the mid-1970s Argentina was producing most of its own oil, steel, and automobiles and was also exporting a number of manufactured products. Copy. Nevertheless, the government has been trying to reduce protectionism and president Fernndez is seeking a mature relationship with China and the US. They include chemicals . The first table below shows top trading partners of Argentina in terms of export sales (selling), including Brazil, China, and United States. Exports FDI, net inflows GDP Growth Rate GDP Per . Of that, the government owes $45 billion to the International. The fastest grower among Argentina's top import product categories was iron or steel as materials thanks to a 182.9% increase from 2020 to 2021. The Argentine government insists on its widely ridiculed statement that despite the economic downturn and one of its major exports suspended last month, it can double exports in the next five years- beef. In March 2005, Kirchner announced that the country's debt had been successfully restructured. In 1999, it accounted for 64 percent of GDP. Interested parties can check a list of upcoming seminars and webinars or reference BIS provided online training. The spread of wheat, corn (maize), and flax cultivation roughly conformed to that of the estancia region of the Pampas. Argentina generally has had a favourable balance of trade, although it has occasionally experienced years with trade deficits since the Mercosur pact was enacted. What is the import in Argentina? BIS also provides a variety of training sessions to U.S. exporters throughout the year. BIS works closely with U.S. embassies, foreign governments, industry, and trade associations to ensure that exports from the United States are secure and items subject to the EAR comply with the regulations. Among all the top products exported from Argentina, Soybean Meal contributes to 3.69% of total trade value, equal to US$4,767,349 thousand. Export Administration (EA) is responsible for processing license applications, counseling exporters, and drafting and publishing changes to the EAR; and Export Enforcement (EE) is responsible for compliance monitoring and enforcement of the EAR. A list of other agencies involved in export control can be found on the BIS website and in Supplement No. Within its 2.8 million square kilometers of territory, Argentina is endowed with extraordinary fertile lands, gas and lithium reserves, and has great potential for renewable energy. Among the main industries in Argentina are food processing, automobile production, textiles, energy production, and mining. Both of these resources are publicly available, and their dissemination to industry members is highly encouraged to help promote EAR compliance. Specifically, an EUC verifies the bona fides of transactions subject to the EAR, to include: confirming the legitimacy and reliability of the end use and end user; monitoring compliance with license conditions; and ensuring items are used, re-exported or transferred (in-country) in accordance with the EAR. By Pro Farmer Editors November 1, 2022. U.S. Department of Commerce
Argentina exports more than it imports and its trade balance is therefore in surplus.The devaluation of the peso has boosted Argentina's exports (especially of agricultural products). This is followed by manufacturing at 17.2% of the GDP and commerce and tourism at 16.9%. The verification of a foreign partys reliability facilitates future trade, including pursuant to BIS license reviews. At first, the peso is devalued from 1 peso per Dollar to 1.4 peso per Dollar. The largest GDP contributor is the business, social, and other services sector which make up 33.3%. Exporters should determine the export requirements specific to their proposed transaction by classifying their items prior to export, and reviewing the EARs requirements specific to the item(s) and the proposed end use and end user, as well as consulting the CSL to determine if any parties to the transaction may be subject to specific license requirements. Considering that the Argentine economy in the late 90s was very unstable due to the countrys rising debt and inflation, its safe to say that theyre doing pretty well. And, despite a high standard of living by South American standards, Argentina had a foreign debt ratio comparable to that of less-developed countries. The main export partners of Argentina are Brazil, Chile, the United States, China and Spain. In second place was mineral fuels including oil (up 126.1%) ahead of fertilizers (up 104.4%), pharmaceuticals (up 53.7%) and the machinery including computers category (up 49.6%). The food and beverage (F&B) industry is one of the main activities contributing to the Argentine economy, accounting for about 30% of Argentina's total exports. What is Argentina's main export? What are main exports of Argentina? With oil and gas (O&G) consumption continuing to increase and domestic production declining, Argentina became a net importer in 2010. The United States imposes export controls to protect national security interests and promote foreign policy objectives related to dual-use goods and less-sensitive military items through implementation of the Export Administration Regulations (EAR) (15 CFR Parts 730 - 774). The main commodities of import are vehicles, corn, wheat, soybeans, gas and petroleum. In Jan. 2006 . Includes the U.S. government export controls that companies need to abide by when exporting to this country. EUCs are conducted as part of BISs licensing process, as well as its compliance program, to determine if items were exported in accordance with a valid BIS authorization or otherwise consistent with the EAR. The country's main exports include oil-cake and other solid . Corn. A .gov website belongs to an official government organization in the United States. According to OECD Argentina is the third largest exporter reaching about 7.9% of the world vegetable oil exports in 2027. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Argentina, State of South America; 2.8 million km 2, 44.5 million residents (2019).Argentina is South America's second largest state and has an area of 3,700 km from the border with Bolivia in the north to Eldslandet in the south. This site contains PDF documents. It benefits from rich natural resources - including oil, silver and copper - and a well-educated population. Corn production in MY 2020/2021 is projected at 48 million tons, 2 million tons below USDA, on expected lower yields which decreases export . The main imports of Argentina are food, fuel, energy and capital goods. This would include cars, auto parts, steel, aluminum, and chemicals. The CSL consolidates eleven export screening lists of the Departments of Commerce, State, and the Treasury into a single data feed as an aid to industry in conducting electronic screens of parties to regulated transactions. Meat and grain were exported to expanding markets in Europe in exchange for fuel and manufactured products. TheInternational Trade Administration,U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. Soybean Meal ($9.2 billion15% of their total exports) Corn ($4 billion6.8% of their total exports) Soybean oil ($3.88 billion6.6% of their total exports) Delivery trucks and cars ($7.38 billion12% of their total exports) Soybeans ($2.82 billion4.8% of their total exports) Meat ($2.5 . They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. In Argentina exports, have been the source of growth in recent years. Major Exports of Pakistan . HS Code Export USD$ (23) Animal Feeds: $9,413,129,466 (10) Cereals: $9,314,415,387 A lock ( the country's main exports include oil-cake and other solid residues (13.7%), maize (11%), soy-bean oil and soya beans (10.8%), meat (3.8%), and wheat and meslin (3.7%); while it imports soya beans (4.7%), auto parts and accessories (3.9%), motor cars and other motor vehicles (3.8%), electrical apparatus for line telephony (3.4%), and petroleum Heres a List of Argentinas Top Imports and Values: Iron and steel imports have increased in value, almost doubling between 2017 and 2018 by 92.7%. A member of the G-15 and G-20 economies, Argentina boasts the third-largest economy in Latin America. January 6 th , 2001 -The implementation of the Law of Public Emergency and Reform of the Exchange Rate Regime marks the end of the Convertibility Plan. In the early 1990s the government enacted a program of economic austerity, reined in inflation by making the peso equal in value to the U.S. dollar, and privatized numerous state-run companies, using part of the proceeds from their sale to reduce the national debt. Local production capacity being fully used, which requires additional investments to supply the growing food demand; 2. Details on Argentina's Imports/Exports Soybean Meal. The EU is Argentina's third trading partner (after Brazil and China), accounting for 14.1% of total Argentinean trade in 2019. Between 1930 and 1980 Argentina fell from being one of the wealthiest countries in the world to ranking with the less-developed nations. The conservative restoration and the Concordancia, 193043, Attempts to restore constitutionalism, 195566. Argentina has vast natural resources in energy and agriculture. Foreign Direct Investment Attraction Events, Services for U.S. Companies New to Exporting, Services for U.S. Companies Currently Exporting, Leading Sectors for US Exports & Investments, Information and Communications Technology, Licensing Requirements for Professional Services, https://www.bis.doc.gov/index.php/enforcement/oea/eco. U.S. total exports of agricultural products to Argentina totaled $225 million in 2019. In 2019, EU-Argentina bilateral trade in goods totalled 14.3 billion. Standard users can export data in a easy to use web interface or using an excel add-in. What is Argentina's leading export? The government has already issued export certificates for 8.85Mt of the 10Mt set export quota, or as the government . Argentines feared that investors who had lost money in Mexico would also lose confidence in the Argentine financial system. These checks might be completed prior to the export of items pursuant to a BIS export license in the form of a Pre-License Check (PLC) or following an export from the U.S. during a Post-Shipment Verification (PSV), regardless of whether or not a BIS license was required. Study now. *Note: top soybe. Not only is there an abundance of trade opportunities in Argentina but there are also numerous benefits for businesses. Argentina has been a relatively closed market to international trade, which accounted for 30.5% of its GDP in 2020 (World Bank). Argentina is the top soybean oil exporter with market share of 52% and export value of $4.5B USD. However, the Great Depression of the 1930s considerably damaged the Argentine economy by reducing foreign trade. Argentina is the 42nd largest Importer of the world, and as a major player in the global trade economy, the country continues to impress with their numbers in exportation in regards to their size and location. 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