Argentinian exports to China have grown 10% over the last 10 years

Argentinian exports to China have grown 10% over the last ten years, according to information divulged by Argentina’s Foreign Affairs Ministry during a virtual meeting of the Argentine-Chinese Chamber.  In addition, revenues from trade between the two countries has increased seven-fold compared to 2001, from US$2 billion a year, to the current US$15 billion a year.

To get an idea of ​​this growth, the following graph shows the Argentine exports of containerized cargo to China month by month since January 2006:

According to the International Economic Relations Secretary of Argentina’s Foreign Affairs Ministry, Jorge Neme, the key to increasing the volume of Argentinian exports to China is to export not only simple products such as animal feed, but also items of greater aggregate value such as gourmet products.

The chart below shows the main products exported by Argentina to China in containers between January-May 2020, with the main highlights being meat and fish. On the bulk side, the main product imported is soy.

It is worth mentioning that in April 2020, for the first time China managed to displace Brazil as Argentina’s largest trading partner according to the Argentine Republic’s Chamber of Exporters (CERA), accounting for 11.7% of total sales and 14.1% of imports. During the first quarter of 2020, Argentine exports to China totaled US$1.211 billion (an increase of 4.4% over the previous year), while imports added up to US$2.841 million (4.7% more). Thus, the trade deficit with China was reduced to US$1.502 billion between January and April this year, when compared to US$1.682 billion in the same period last year.

Report sources: Portal Portuário and Agência Télam