Argentina, known for its rich agricultural lands and diverse natural resources, plays a significant role in the global export market. Let’s explore the country’s 10 largest exports, which form the backbone of its economy and contribute to its international trade success.
1. Cereals
Argentina’s top export is cereals, with corn and wheat leading the way. In 2023, cereal exports reached an impressive $8.1 billion, making up 12.1% of the country’s total exports. The vast Pampas region, with its fertile soil and favorable climate, allows Argentina to produce high-quality grains that are in demand worldwide.
Key facts:
- Corn exports: $8.9 billion in 2023
- Wheat exports: $3.6 billion in 2023
- Major buyers: Vietnam, Egypt, Algeria, and Brazil
2. Vehicles
The automotive industry is a crucial part of Argentina’s export sector. In 2023, vehicle exports amounted to $7.8 billion, representing 11.7% of total exports. Argentina produces a wide range of vehicles, from cars to trucks, which are popular in neighboring countries and beyond.
Key facts:
- Car exports: $2.58 billion in 2022
- Main destinations: Brazil, Colombia, Panama, and Chile
- Growing markets: Brazil, Colombia, and Chile
3. Food Industry Waste and Animal Fodder
Argentina has found a way to make the most of its agricultural production by exporting food industry waste and animal fodder. This category brought in $6.3 billion in 2023, accounting for 9.4% of total exports. These products, often derived from soybean processing, are essential for livestock feed worldwide.
Key facts:
- Soybean meal exports: Major contributor to this category
- Value in 2023: $9.022 billion
- Primary importers: Vietnam, Indonesia, and other Asian countries
4. Mineral Fuels and Oils
The energy sector is a growing part of Argentina’s export portfolio. In 2023, mineral fuels and oils exports reached $6.1 billion, making up 9.2% of total exports. This category includes crude oil, natural gas, and refined petroleum products.
Key facts:
- Crude oil exports: $8 billion in 2023
- Natural gas exports: $7 billion in 2023
- LPG exports: $6 billion in 2023
5. Animal and Vegetable Fats and Oils
Argentina is a major player in the global vegetable oil market, particularly in soybean oil production. In 2023, exports of animal and vegetable fats and oils amounted to $5 billion, representing 7.5% of total exports.
Key facts:
- Soybean oil exports: A significant portion of this category
- Value in 2023: $5.821 billion
- Main buyers: India, Bangladesh, and China
6. Meat
Known worldwide for its high-quality beef, Argentina’s meat exports are a significant part of its export economy. In 2023, meat exports brought in $3.1 billion, accounting for 4.7% of total exports.
Key facts:
- Beef exports in February 2024: 82,548 metric tons (highest since 1967)
- Main destinations: China, European Union, and Israel
- Growing demand for Argentine beef in Asian markets
7. Oil Seeds
Oil seeds, particularly soybeans, are a crucial export for Argentina. In 2023, oil seed exports reached $2.1 billion, making up 3.1% of total exports. Argentina is one of the world’s largest soybean exporters.
Key facts:
- Soybean exports in 2023: Approximately $17.9 billion
- Major importers: China, India, Vietnam, and Egypt
- Soybean production forecast for 2024/2025: 51 million metric tons
8. Precious Metals and Stones
Argentina’s mining sector contributes significantly to its exports, with precious metals and stones bringing in $2 billion in 2023, accounting for 3.1% of total exports. Gold is the primary product in this category.
Key facts:
- Gold production in 2022: 43,000 kg
- Silver production in 2023: 910 metric tons
- Growing demand for Argentine precious metals in global markets
9. Fish and Seafood
Argentina’s long coastline and rich marine resources contribute to its fish and seafood exports. In 2023, this sector brought in $1.7 billion, representing 2.5% of total exports.
Key facts:
- Main products: Hake, squid, and shrimp
- Growing demand in Asian and European markets
- Sustainable fishing practices gaining importance
10. Machinery Including Computers
Rounding out the top 10 is machinery, including computers, which accounted for $1.3 billion in exports in 2023, making up 1.9% of total exports. This sector shows Argentina’s growing capacity in manufacturing and technology.
Key facts:
- Growing exports of agricultural machinery
- Increasing demand for Argentine-made industrial equipment in Latin America
- Potential for growth in high-tech exports