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Argentina

U.S.-Argentina Trade Facts 

In 2019, Argentina GDP was an estimated $445.5 billion (current market exchange rates); real GDP was down by an estimated 2.2%; and the population was 45 million. (Source: IMF)

U.S. goods and services trade with Argentina totaled an estimated $23.3 billion in 2019. Exports were $15.7 billion; imports were $7.5 billion. The U.S. goods and services trade surplus with Argentina was $8.2 billion in 2019.

Argentina is currently our 40th largest goods trading partner with $13.1 billion in total (two way) goods trade during 2019. Goods exports totaled $8.2 billion; goods imports totaled $4.9 billion. The U.S. goods trade surplus with Argentina was $3.2 billion in 2019.

Trade in services with Argentina (exports and imports) totaled an estimated $10.2 billion in 2019. Services exports were $7.6 billion; services imports were $2.6 billion. The U.S. services trade surplus with Argentina was $5.0 billion in 2019.

Exports

  • Argentina was the United States' 33rd largest goods export market in 2019.
  • U.S. goods exports to Argentina in 2019 were $8.2 billion, down 17.7% ($1.8 billion) from 2018 but up 46.4% from 2009. 
  • The top export categories (2-digit HS) in 2019 were: machinery ($1.7 billion), mineral fuels ($1.6 billion), electrical machinery ($705 million), optical and medical instruments ($546 million), and pharmaceuticals ($488 million).
  • U.S. total exports of agricultural products to Argentina totaled $225 million in 2019. Leading domestic export categories include: soybeans ($71 million), planting seeds ($24 million), prepared food ($14 million), chocolate & cocoa products ($7 million), and non-alcoholic beverages (ex. juices) ($7 million).
  • U.S. exports of services to Argentina were an estimated $7.6 billion in 2019, 9.6% ($809 million) less than 2018, but 103% greater than 2009 levels.  Leading services exports from the U.S. to Argentina were in the travel, transport, and telecommunications, computer, and information services sectors.

Imports

  • Argentina was the United States' 48th largest supplier of goods imports in 2019.
  • U.S. goods imports from Argentina totaled $4.9 billion in 2019, up 1.7% ($83 million) from 2018, and up 26.4% from 2009. 
  • The top import categories (2-digit HS) in 2019 were: mineral fuels ($1.3 billion), aluminum ($413 million), organic chemicals ($328 million), precious metal and stone (gold) ($294 million), and beverages (wine) ($282 million).
  • U.S. total imports of agricultural products from Argentina totaled $1.4 billion in 2019, our 24th largest supplier of agricultural imports. Leading categories include: wine and beer ($273 million), fruit & vegetable juices ($155 million), other fresh fruit ($139 million), essential oils ($103 million), and tea, including herbal ($65 million).
  • U.S. imports of services from Argentina were an estimated $2.6 billion in 2019, 7.2% ($202 million) less than 2018, but 119% greater than 2009 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 $3.2 billion in 2019, a 36.2% decrease ($1.8 billion) over 2018.
  • The United States has a services trade surplus of an estimated $5.0 billion with Argentina in 2019, down 10.8% from 2018.

Investment

  • U.S. foreign direct investment (FDI) in Argentina (stock) was $10.7 billion in 2019, a 12.4% increase from 2018. U.S. direct investment in Argentina is led by manufacturing, information services, and depository institutions.
  • Argentina's FDI in the United States (stock) was $561 million in 2019, down 31.8% from 2018. 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 $9.1 billion in 2017 (latest data available), while sales of services in the United States by majority Argentina-owned firms were $211 million.

U.S - Argentina TIFA