Australia is one of the largest consumer markets in the world (21st largest importer in the world, according to the WTO). Although one may regard Australia as a competitive market of Argentina rather than a complementary one, this perception belies the fact that there are many sectors with great export potential, in the primary sector, agricultural and industrial manufacturing, and services.
During 2017, exchange of goods between Australia and Argentina, according to the ABS, reached U$D 817,34 million. Argentine exports reached U$S 562,43 million, and Austalian exports reached U$D 254,91 million.
Compared to 2016, the value of bilateral trade increased by 31.93%. Argentine exports increased 7.47% and Australian exports increased 105.62%.
The main goods that Argentina exported to Australia in 2017 were: Animal feed (U$D 288.62 million), vehicles for transport of goods (U$D 135.63 million), oil seeds and oleaginous fruits “soft” (U$D 31.27 million), vegetable oils and fats “soft” (U$D 26.21 million), leather (U$D 9.93 million), chocolate and other food preparations containing cocoa (U$D 8.54 million), insecticides, herbicides, and disinfectants (U$D 8 million), machinery and equipment for transport (U$D 7.88 million)
Other significant areas included chemicals and related products (U$D 5.73 million), general industrial machinery and parts (U$D 5.32 million), shellfish (U$D 5.26 million), live animals and feed (U$D 5.24 million), fruit, prepared or preserved (U$D 5.18 million), alcoholic beverages (U$D 4.61 million), fruit juice (U$D 3.48 million) and varied manufactured products (U$D 2.46 million).
Regarding Australian exports to Argentina, the main areas were confidential articles (U$D 159.58 million), and coal (U$D 65.71 million), which represent 88.38% of all Australian exports in 2017.
Other significant areas were vegetable raw materials (U$D 7.30 million), chemicals and related products (U$D 2.1 million), rail vehicles (including hovertrains) (U$D 1.74 million), leather (U$D 1.6 million), internal combustion engines (U$D 1.56 million), pigments, paints and varnish (U$D 1.48 million), and electrical machinery and devices (U$D 1.33 million).
In Argentina there are currently around 60 Australian companies, mainly focused in the mining sector. Australia is one of the world’s leading countries in part due to its high degree of development in the mining sector, which has been one of the country’s primary sources of wealth.