01Key Takeaways
- Argentina's imports totaled $73.71 billion in 2023, down 9.6% from $81.52 billion in 2022, reversing two years of growth.
- Brazil was the top source, supplying 23.5% of imports worth $17.30 billion, followed by China at 19.6% ($14.48 billion).
- The USA ranked third at 11.7% ($8.63 billion), bringing the top three sources to 54.8% of total import value.
- Machinery and mechanical appliances led all import categories at 15.2% of total value ($11.18 billion), with vehicles second at 11.1% ($8.20 billion).
025-Year Trend
| Year | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Value | $49.1B | $42.4B | $63.2B | $81.5B | $73.7B |
03Top Import Markets (2023)
| Rank | Partner | Value | Share |
|---|---|---|---|
| 1 | Brazil | $17.3B | 23.5% |
| 2 | China | $14.5B | 19.6% |
| 3 | United States | $8.6B | 11.7% |
| 4 | Paraguay | $3.9B | 5.3% |
| 5 | Germany | $2.8B | 3.8% |
| 6 | Italy | $1.8B | 2.5% |
| 7 | Thailand | $1.8B | 2.4% |
| 8 | Mexico | $1.6B | 2.1% |
| 9 | India | $1.4B | 1.9% |
| 10 | Vietnam | $1.4B | 1.9% |
04Top Import Categories (2023)
| Rank | Category | Value | Share |
|---|---|---|---|
| 1 | Nuclear Reactors, Boilers, Machinery and Mechanical Appliances; Parts thereof | $11.2B | 15.2% |
| 2 | Vehicles other than Railway or Tramway Rolling-Stock, and parts and accessories thereof | $8.2B | 11.1% |
| 3 | Electrical Machinery and Equipment and parts thereof; Sound Recorders and Reproducers, Television Image and Sound Recorders and Reproducers, and Parts and Accessories of such Articles | $8.1B | 11.0% |
| 4 | Mineral Fuels, Mineral Oils and Products of their Distillation; Bituminous Substances; Mineral Waxes | $7.8B | 10.5% |
| 5 | Oil Seeds and Oleaginous Fruits; Miscellaneous Grains, Seeds and Fruit; Industrial or Medicinal Plants; Straw and Fodder | $5.7B | 7.8% |
| 6 | Organic Chemicals | $3.4B | 4.6% |
| 7 | Plastics and Articles thereof | $3.1B | 4.2% |
| 8 | Pharmaceutical Products | $2.6B | 3.5% |
| 9 | Optical, Photographic, Cinematographic, Measuring, Checking, Precision, Medical or Surgical Instruments and Apparatus; Parts and Accessories thereof | $1.9B | 2.5% |
| 10 | Iron and Steel | $1.7B | 2.3% |
05Trade Partner Map
06Analysis
Argentina's Top Import Sources in 2023
Argentina imported $73.71 billion worth of goods in 2023, the latest year with verified trade data in this dataset. That total marks a decline of 9.6% from the $81.52 billion recorded in 2022, reversing two straight years of growth. Brazil was the largest source of Argentina's imports, supplying 23.5% of the total, worth $17.30 billion.
China ranked second at 19.6% ($14.48 billion), ahead of the United States at 11.7% ($8.63 billion) and Paraguay at 5.3% ($3.91 billion). Germany took fifth place at 3.8% ($2.78 billion), followed by Italy at 2.5% ($1.81 billion) and Thailand at 2.4% ($1.80 billion). Mexico supplied 2.1% ($1.56 billion), India added 1.9% ($1.43 billion), and Vietnam rounded out the top ten at 1.9% ($1.39 billion). Together, the top three sources made up 54.8% of total import value.
Brazil and China together supply nearly half of everything Argentina imports, with the United States adding a further 11.7% to bring the top three to 54.8% of the total. Paraguay's fourth-place ranking stands out given its smaller economy relative to the other partners in the top ten, a pattern tied closely to Argentina's oil seeds imports discussed below. Beyond the top four, the remaining six partners in the top ten are more modestly sized, each holding under 4% of the total, spanning Europe, Asia, and North America. That spread of smaller partners past the top four suggests Argentina's secondary supply relationships are fairly diversified even as the top of the ranking remains concentrated around three major economies. China's second-place ranking, close behind Brazil, also stands out given the geographic distance involved, pointing to substantial demand for Chinese-manufactured machinery, electronics, and other goods that outweighs the logistical advantage held by closer regional partners.
Leading Import Categories
Nuclear reactors, boilers, machinery, and mechanical appliances led all import categories in 2023, worth $11.18 billion and accounting for 15.2% of total import value. Vehicles and related parts and accessories followed at 11.1%, worth $8.20 billion, and electrical machinery and equipment ranked third at 11.0% ($8.12 billion).
Mineral fuels added 10.5% ($7.76 billion), while oil seeds and oleaginous fruits contributed 7.8% ($5.73 billion). Organic chemicals brought in 4.6% ($3.42 billion), and plastics added 4.2% ($3.12 billion). Pharmaceutical products contributed 3.5% ($2.60 billion), optical and medical instruments added 2.5% ($1.86 billion), and iron and steel closed out the top ten at 2.3% ($1.70 billion).
The presence of oil seeds and oleaginous fruits as the fifth-largest import category, worth $5.73 billion, is notable for a country that is also one of the world's largest processors and exporters of soy-based products. That pattern lines up with Paraguay's position as Argentina's fourth-largest import source, since Argentina's crushing industry sourced soybeans from neighboring countries to keep processing plants running after the domestic harvest fell sharply, a dynamic discussed further below. The remaining categories, spanning machinery, vehicles, fuel, chemicals, and pharmaceuticals, reflect steady industrial and consumer demand across manufacturing, energy, and healthcare sectors, with none of the categories past the top five reaching even 5% of total import value. The top three categories, machinery, vehicles, and electrical equipment, are also closely bunched within about four percentage points of each other, meaning the exact ordering among them could plausibly shift in future data updates without changing the broader picture of an import base weighted toward capital goods and manufactured equipment.
A Pullback Tied to Weaker Agricultural Output
The five-year trend shows imports climbing for two consecutive years before easing back. Imports moved from $49.13 billion in 2019 to $42.36 billion in 2020, then rose to $63.18 billion in 2021 and further to $81.52 billion in 2022, before falling 9.6% to $73.71 billion in 2023. Even with that decline, the 2023 total remains well above every year prior to 2022, leaving the broader five-year trajectory pointed upward despite the pullback in the most recent year.
This pattern is consistent with the World Bank's WITS trade summary for Argentina, which confirms Brazil and China's leading roles among the country's import sources alongside the broader import totals recorded for 2023. Argentina's need to import soybeans from neighboring countries during a drought-hit harvest year helps explain why oil seeds still rank among its top import categories even as the country remains a major global exporter of soy-based products on the export side. For a closer look at how individual partner countries or product categories break down year over year, the data panels above provide the full detail behind these figures.