The trade between China and Argentina
The trade between China and Argentina is as follows:
1. Trade scale and trend
- From January to November 2024, the bilateral import and export volume of goods between China and Argentina was US$14.74 billion, a year-on-year decrease of 8.6%.
- From January to October 2024, the total import and export volume of China-Argentina foreign trade was RMB 94 billion, of which China imported RMB 42 billion from Argentina, a year-on-year increase of 9.6%, and exported RMB 52 billion to Argentina, a year-on-year decrease of 22.7%.
2. Composition of major commodities
- Exports from China to Argentina: mainly mechanical and electronic products, such as communication and audio-visual equipment and parts, mobile phones, laptops, etc.; chemicals and chemical products, such as organic/inorganic chemicals, fertilizers, etc.; textile and footwear products, mainly chemical fibers, crocheted fabrics, shoes and clothing; transportation equipment and parts, such as manned cars, motorcycles, etc.
- China imports from Argentina: mainly food and agricultural products, such as genetically modified soybeans, barley, sorghum, beef, leather, etc.; metal products, such as silver ore, lithium chloride/lithium carbonate.
3. Cooperation projects
- Energy and mining: The two sides have cooperation potential in lithium resource development. Argentina is rich in lithium resources, and Chinese companies have investment cooperation intentions in its lithium mine development.
- Infrastructure: The two sides are negotiating on US$500 million in financing in order to restart shelved projects such as the southern hydropower station.
4. Trade policy
- Currency swap agreement: The China-Argentina currency swap agreement has been extended to 2025, providing an important foreign exchange reserve support tool for the Argentine Central Bank.
- E-commerce cooperation: China and Argentina have signed a memorandum of cooperation on e-commerce and established a bilateral e-commerce cooperation mechanism.