The agri-food balance between Spain and Argentina clearly leans in favor of the latter country, with a deficit for Spain that usually far exceeds 1,000 million euros. According to the latest data from the Ministry of Agriculture, in 2023 the negative balance for Spain was 1,130 million euros. Soybean cakes and oil are among the most imported Argentine products in our country..
Last year, the value of imports of Argentine agri-food products into Spain, although it decreased significantly compared to 2022, stood at 1,175 million euros, compared to Spanish exports to the Argentine market of just 45 million euros.
Soybean cakes and oil are among the most imported Argentine products in Spain, although in 2023 the first position went to crustaceans due to the sharp drop in the value of imports of soybean cakes compared to 2022. Less significant are the purchases of other products, such as olive oil or citrus fruits.. Among the products that Spain exports to Argentina, various goods from the food industry stand out.
Negative balance also for the EU
The Ministry’s report on agri-food trade exchanges with Argentina also includes data related to this country’s trade with the European Union as a whole. As in the case of Spain, the balance is negative for the EU.
In 2023, the value of community imports of products from Argentina stood at 5,320 million euros (31% less than in 2022) while that of shipments of community products to the Argentine market was 290 million euros (-3.8%), bringing the deficit for the EU to 5,030 million euros.
Soy cakes, soy beans and beef are the most imported products in the EU from Argentina and the Netherlands is the main destination, with a share of 22.7%, followed by Germany (16.4 %) and Spain (15.4%). Globally, what Argentina exports the most is corn, followed by soybean cakes and oil, frozen beef and soybeans.
