Argentina

Argentina is located in the southern part of South America. It borders the Atlantic Ocean to the east. To the west, it is separated from Chile by the Andes Mountains. It is bordered by Bolivia, Paraguay, Brazil, Uruguay to the north and east.

Argentina has a developed agriculture and animal husbandry industry. It is a major producer and exporter of food and meat in the world. Argentina is rich in mineral resources and is one of the major mining countries in Latin America. It is also one of the countries with the largest reserves of unconventional oil and gas in the world today.

Argentina is a member of international and regional organizations or international multilateral cooperation mechanisms such as the United Nations, the World Trade Organization, the G20, the Organization of American States, the Community of Latin American and Caribbean States, and the Southern Common Market. Argentina is the third largest economy in Latin America and an important emerging market in the world.

The official language of Argentina is Spanish. Other languages include English, Italian, German, Arabic, French. In some northern areas of Argentina, Guarani is used. In some southern areas, Mapuche is used.

**Agriculture**

Agriculture is a pillar industry of Argentina. Argentina has a developed agriculture and animal husbandry industry and is known as the "granary and meat storehouse." It is an important country in the production and export of food and meat in the world. Most parts of the country have fertile soil and a mild climate, which are suitable for the development of agriculture and animal husbandry. The Pampas grassland in the east and central regions is a famous agricultural and pastoral area.

In the global ranking of agricultural product exports, Argentina ranks first in soybean oil and soybean meal, second in peanuts, third in corn, soybeans, sunflower seeds and pears, fourth in beer and barley, and fifth in beef, red shrimp and lobster, black tea and milk powder. Argentina is also the world's largest producer of mate tea, with a production volume accounting for more than half of the global output.

**Animal Husbandry**

Argentina has a long history of animal husbandry. Its livestock breeds and animal husbandry levels are leading in the world. Animal husbandry accounts for 40% of the total output value of agriculture and animal husbandry. 80% of the country's livestock are concentrated in the Pampas grassland, mainly cattle and sheep. Argentina is a major producer, exporter and consumer of beef.

**Mining**

Argentina is rich in mineral resources and is one of the major mining countries in Latin America. The main mineral resources include oil, natural gas, copper, gold, uranium, lead, zinc, borates, clay, etc.

At present, three-quarters of Argentina's mineral production is sold to export markets. The current Argentine government attaches great importance to lithium mining and vigorously promotes the development of a green economy. It is promoting the Congress to review the draft "Law on Promoting Sustainable Transportation."

**Industry**

Argentina's automobile industry started relatively early and is relatively leading in Latin America. There are currently 14 automobile enterprises, of which 8 produce cars and light trucks, and the rest produce trucks and passenger vehicles. The automobile industry has become a pillar industry of Argentina.

In 2022, Argentina's automobile production and exports still increased significantly. The national automobile production reached 537,000 vehicles, a year-on-year increase of 23.5%, setting a new high since 2014. In the same period, exports reached 322,000 vehicles, a year-on-year increase of 24.3%. Argentina's automobiles are mainly exported to Brazil (accounting for 62.8% of total exports), followed by Central America (accounting for 10.1%), Colombia (accounting for 6.3%), Chile (accounting for 6.2%), Peru (accounting for 5.5%) and Mexico (accounting for 2.4%).

The main radiated markets of Argentina's foreign trade are: the Southern Common Market (referred to as "Mercosur"); the Andean Community; the Central American Common Market; the Free Trade Area of the Americas; North America; Europe; Asia.

Argentina's main trading partners on the major continents of the world are as follows:

In South America, the main trading partners are Brazil, Chile, Paraguay, Uruguay, Bolivia, Peru, Colombia and Ecuador.

In North America, the main ones are the United States, Canada and Mexico.

In Europe, the main ones are the Netherlands, Germany, Spain, Italy and Switzerland.

In Asia, the main ones are China, India, Vietnam, South Korea, Indonesia, Saudi Arabia, Thailand and Japan.

In Africa, the main ones are Algeria, Morocco and Egypt.

In 2022, Argentina's total foreign trade volume was 169.969 billion US dollars, a year-on-year increase of 20.4%. Among them, imports were 81.523 billion US dollars, a year-on-year increase of 29.0%; exports were 88.446 billion US dollars, a year-on-year increase of 13.5%. In 2022, Argentina's foreign trade surplus was 6.923 billion US dollars.

In 2022, Argentina's top three trading partners were Brazil, China and the United States; the main export markets were Brazil, China, the United States, Chile and India; the main sources of imports were China, Brazil, the United States, Germany and Bolivia.

In 2022, the export volumes of agricultural products, primary products, manufactured products, fuel and energy products in Argentina were 33.119 billion, 23.868 billion, 23.061 billion, and 8.398 billion US dollars respectively, with year-on-year growth rates of 7.1%, 9.4%, 15.8%, and 58.9% respectively.

In 2022, Argentina's imports of intermediate products, fuel and lubricants, capital goods, capital goods parts, consumer goods, passenger cars, and other goods were 30.009 billion, 12.868 billion, 12.454 billion, 15.037 billion, 8.567 billion, 19.96 million, and 59.2 million US dollars respectively, with year-on-year growth rates of 16.5%, 120.2%, 22.3%, 26.5%, 18.4%, 18.0%, and 1.4% respectively.

In 2022, Argentina's main export products included oil residue obtained from refined soybean oil, corn, soybean oil, freight motor vehicles, wheat and mixed wheat, soybeans, etc. Among them, the export volume of "oil residue cake and other solid residues," which ranked first, reached 12.06 billion US dollars, accounting for as high as 13.6%.

In 2022, Argentina's main import products included soybeans, gasoline, natural gas, immunological products and vaccines, petroleum and oils extracted from bituminous minerals.

According to statistics from the Argentine Agricultural Development Foundation, from January to June 2024, Argentina's agricultural export volume achieved a year-on-year increase of 19%, reaching 24 billion US dollars, accounting for 60% of the country's total export volume in the same period. Statistical data shows that 72% of Argentina's agricultural export volume comes from grain exports, 13% from regional economic agricultural products, 8% from meat, and 2% from dairy products. The report predicts that Argentina's agricultural export volume in 2024 will be between 45 billion and 50 billion US dollars, showing a significant increase compared to 2023.

According to data from the Argentine National Bureau of Statistics, in July, Argentina's exports were 7.221 billion US dollars, a year-on-year increase of 19.2%. Imports were 5.646 billion US dollars, a year-on-year decrease of 16.5%. From January to July 2024, Argentina's cumulative trade surplus reached 12.262 billion US dollars. Chile, Vietnam, Peru and India are the top four sources of Argentina's trade surplus.

The Argentine customs data of Blooming Trade Data is continuously updated. The data covers importer data, exporter data, commodity description information, freight information, detailed commodity quantity and price information, etc.