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Argentina

U.S.-Argentina Trade Facts 

In 2017, Argentina GDP was an estimated $637.7 billion (current market exchange rates); real GDP was up by an estimated 2.9%; and the population was 44 million. (Source: IMF)

U.S. goods and services trade with Argentina totaled an estimated $26.8 billion in 2018. Exports were $19.2 billion; imports were $7.6 billion. The U.S. goods and services trade surplus with Argentina was $11.6 billion in 2018.

Argentina is currently our 37th largest goods trading partner with $14.8 billion in total (two way) goods trade during 2018. Goods exports totaled $9.9 billion; goods imports totaled $4.9 billion. The U.S. goods trade surplus with Argentina was $5.1 billion in 2018.

Trade in services with Argentina (exports and imports) totaled an estimated $12.0 billion in 2018. Services exports were $9.3 billion; services imports were $2.7 billion. The U.S. services trade surplus with Argentina was $6.5 billion in 2018.

According to the Department of Commerce, U.S. exports of Goods and Services to Argentina supported an estimated 88 thousand jobs in 2015 (latest data available) (37 thousand supported by goods exports and 52 thousand supported by services exports).

Exports

  • Argentina was the United States' 29th largest goods export market in 2018.
     
  • U.S. goods exports to Argentina in 2018 were $9.9 billion, up 3.5% ($334 million) from 2017 and up 31.6% from 2008. 
     
  • The top export categories (2-digit HS) in 2018 were: mineral fuels ($2.0 billion), machinery ($1.8 billion), electrical machinery ($824 million), miscellaneous grain, seeds, fruit (soybeans) ($744 million), and aircraft ($615 million).
     
  • U.S. total exports of agricultural products to Argentina totaled $896 million in 2018. Leading domestic export categories include: soybeans ($719 million), planting seeds ($33 million), prepared food ($14 million), snack foods nesoi ($14 million), and chocolate & cocoa products ($11 million).
     
  • U.S. exports of services to Argentina were an estimated $9.3 billion in 2018, 2.7% ($247 million) more than 2017, and 171% greater than 2008 levels.  Leading services exports from the U.S. to Argentina were in the travel, telecommunications, computer, and information services, and transport sectors.

Imports

  • Argentina was the United States' 50th largest supplier of goods imports in 2018.
     
  • U.S. goods imports from Argentina totaled $4.9 billion in 2018, up 1.7% ($81 million) from 2017, but down 16.5% from 2008. 
     
  • The top import categories (2-digit HS) in 2018 were: mineral fuels ($1.2 billion), aluminum ($444 million), precious metal and stone (silver) ($303 million), beverages (wine) ($294 million), and fish and seafood (crustaceans) ($244 million).
     
  • U.S. total imports of agricultural products from Argentina totaled $1.4 billion in 2018. Leading categories include: wine and beer ($286 million), fruit & vegetable juices ($154 million), other fresh fruit ($140 million), essential oils ($134 million), and tea, including herb ($70 million).
     
  • U.S. imports of services from Argentina were an estimated $2.7 billion in 2018, 5.6% ($164 million) less than 2017, but 118% greater than 2008 levels.  Leading services imports from Argentina to the U.S. were in the travel, professional and management services, and research and development sectors.

Trade Balance

  • The U.S. goods trade surplus with Argentina was $5.1 billion in 2018, a 5.3% increase ($253 million) over 2017.
     
  • The United States has a services trade surplus of an estimated $6.5 billion with Argentina in 2018, up 6.7% from 2017.

Investment

  • U.S. foreign direct investment (FDI) in Argentina (stock) was $14.9 billion in 2017, a 6.0% increase from 2016. U.S. direct investment in Argentina is led by manufacturing, information services, and finance and insurance.
     
  • Argentina's FDI in the United States (stock) was $1.0 billion in 2017, up 16.8% from 2016. There is no information on the distribution of Argentina FDI in the U.S.
     
  • Sales of services in Argentina by majority U.S.-owned affiliates were $9.6 billion in 2015 (latest data available).

 

U.S - Argentina TIFA