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Argentina

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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 $26.3 billion in 2017. Exports were $18.6 billion; imports were $7.7 billion. The U.S. goods and services trade surplus with Argentina was $10.9 billion in 2017.

Argentina is currently our 37th largest goods trading partner with $14.4 billion in total (two way) goods trade during 2017. Goods exports totaled $9.6 billion; goods imports totaled $4.8 billion. The U.S. goods trade surplus with Argentina was $4.8 billion in 2017.

Trade in services with Argentina (exports and imports) totaled an estimated $12.0 billion in 2017. Services exports were $9.0 billion; services imports were $2.9 billion. The U.S. services trade surplus with Argentina was $6.1 billion in 2017.

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 2017.
  • U.S. goods exports to Argentina in 2017 were $9.6 billion, up 12.6% ($1.1 billion) from 2016 and up 63.7% from 2007. 
  • The top export categories (2-digit HS) in 2017 were: machinery ($1.9 billion), mineral fuels ($1.8 billion), electrical machinery ($1.0 billion), aircraft ($716 million), and plastics ($473 million).
  • U.S. total exports of agricultural products to Argentina totaled $200 million in 2017. Leading domestic export categories include: planting seeds ($34 million), snack foods nesoi ($15 million), prepared food ($15 million), chocolate & cocoa products ($11 million), and non-alcoholic bev. (ex. juices) ($8 million). 
  • U.S. exports of services to Argentina were an estimated $9.0 billion in 2017, 7.5% ($633 million) more than 2016, and 223% greater than 2007 levels.  Leading services exports from the U.S. to Argentina were in the travel, telecommunications, computer, and information services, and transportation sectors.

Imports

  • Argentina was the United States' 46th largest supplier of goods imports in 2017.
  • U.S. goods imports from Argentina totaled $4.8 billion in 2017, up 2.7% ($127 million) from 2016, and up 6.5% from 2007. 
  • The top import categories (2-digit HS) in 2017 were: miscellaneous chemical products ($743 million), aluminum ($548 million), special other (returns) ($386 million), beverages (wine) ($316 million), and mineral fuels ($286 million).
  • U.S. total imports of agricultural products from Argentina totaled $1.4 billion in 2017. Leading categories include: wine and beer ($312 million), other fresh fruit ($137 million), essential oils ($118 million), fruit & vegetable juices ($114 million), and other vegetable oils ($96 million).
  • U.S. imports of services from Argentina were an estimated $2.9 billion in 2017, 16.1% ($404 million) more than 2016, and 184% greater than 2007 levels.  Leading services imports from Argentina to the U.S. were in the travel, intellectual property (movies and television programming), and professional and management services sectors.

Trade Balance

  • The U.S. goods trade surplus with Argentina was $4.8 billion in 2017, a 24.6% increase ($948 million) over 2016.
  • The United States has a services trade surplus of an estimated $6.1 billion with Argentina in 2017, down 4.6% from 2016.

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