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Apparels & Textiles
The textile and apparel sector has shown significant growth. The total Argentinean textile market is estimated to be worth US$ 12 Billion. The Argentinean government has outlined a master plan on strategic industries and the annual rate of growth for the two textile sectors is earmarked at 7.5 % up to 2020.
The clothing industry of Argentina is expected to grow steadily in the coming years in view of the growing demand for high fashion garments and its exports and the dynamic local retail sector consisting of local and foreign players
India is 4th largest exporter of cotton with its exports valued USD 6,605 thousand in the year 2016 whereas Brazil and China are largest exporters. Trade Potential of cotton exports from India to Argentina is USD 121,422 thousand.
Import of manmade staple fibres in Argentina was USD 245,369 Thousand in the year 2016 with India being the 3rd largest exporter having value of USD 26,998 Thousand.
The footwear industry in Argentina has been growing every year its footwear production, achieving 190% in 10 years and plans to increase sales by 10% abroad for next year. Footwear production in Argentina has reached record levels of 135 million pairs to supply the domestic market. Another relevant fact that is that currently 16% footwear consumed in this country is imported according to the Ministry of Industry of Argentina. The growth in footwear imports into Argentina over the eight months is 10.7%, with China, Brazil and Vietnam as the biggest sources of imported product.
India textile exports to Argentina are synthetic filament yarn, gloves, mittens and mitts, women's or girls suits, jackets, Floor coverings, blazers, dresses, blouses, shirts, tracksuits, footwear, yarns of synthetic staple fibers, woven fabrics, cotton yarn, articles of leather.
Automobile & Components
The automotive and auto parts industry represents 9% of the Argentina's industrial gross production value and is one of the most important and dynamic sectors in the domestic economy. Argentina offers investors an attractive domestic market with over 40 million inhabitants with one of the highest purchasing power per capita in the region.
According to the government, three out of every five vehicles sold in Argentina is an import.
While Argentina's automotive industry accounts for close to 5 percent of GDP (and almost 20 percent of industrial production). Argentina exports cars to other neighboring countries. The increase in car parts exports, Argentina has had a tendency to import a considerable amount of auto parts, as the products produced in the country and exported are usually different from the ones imported. Because there are several big car manufacturing companies in Argentina, many of the imports go straight to these factories while the remaining imports go to general wholesale stores for particulars.
Total imports of Argentina from world accounts to USD 9,637,606 Thousand with Brazil & Mexico being the largest exporter.India has a share of 1.1% in total imports of Argentina.
Major auto-components exported from India to Argentina are new pneumatic tyres ,motorcycles, parts and accessories of tractors and motorcycles, motorcars, tractors, parts and accessories of bicycles and motorcycles, Trailers and semi-trailers.
Building & Construction
Argentina's infrastructure requires major updating and renewal, providing significant opportunity for exporters of equipment and services for roads, ports, railroads, telecommunications, water and sanitation, and electric power, computers, industrial and agricultural chemicals, agricultural and transportation equipment, machine tools, parts for oil field rigs.
The Argentine construction industry increased in value, at a nominal compound annual growth rate (CAGR) of 21.55% during the review period (2009–2013).Industry growth is expected to continue over the forecast period (2014–2018) as a result of the government's focus on infrastructure and residential construction, improved investor sentiment, and an anticipated recovery in the global economy. The industry is anticipated to post a forecast-period CAGR of 22.53%.
Import of Iron & Steel in Argentina is USD 656,048 Thousand from world in the year 2016 with India having a share of 2.8%.
Major building and construction products exported to Argentina by India are flat rolled products of iron and steel, bars and rods of stainless steel, ferro- alloys, wires of stainless steel, flat rolled products of stainless steel, table, kitchen and household products, containers, articles of iron and steel, ceramic products, bottles, flasks etc.
Chemical & Allied Products
The chemical industry in Argentina is one of the main segments of the nation's economy. Chemical production accounts for about 3 percent of GDP, or about US$10.75 billion in annual output. There are 2,300 chemical companies in Argentina. The chemical industry has had an average annual growth rate of 3.5 percent and an average growth rate of 3 percent in exports. Consumer demand has outpaced domestic production, however, and imports of chemicals rose 18.5 percent in 2015.
Organic chemicals are 5th most imported product of Argentina with its import value USD 2,263,864 Thousand in the year 2016 with India being the 3rd largest exporter having its export value as USD 170,027 Thousand . Whereas, inorganic chemicals are 16th largest with import value of USD 625,129 Thousand.
Agrochemical spraying in Argentina has increased nine-fold, from 9 million gallons in 1990 to 84 million gallons today.
India major chemical exports to Argentina in the year 2015 were chemically defined organic compounds, insecticides, rodenticides, fungicides, herbicides, chlorides, chloride oxides, printing ink, writing or drawing ink,organo sulphur compounds, heterocyclic compounds.
According to the Argentine Chamber of Electronic Security (CASEL) in 2014, the Argentine electronic security sector market was valued at approximately $980 million dollars; making it a large and growing sector for U.S. firms, especially in electronic security-related products, equipment, and services. Despite the economic challenges facing the Argentine economy, the electronic security sector grew 18 percent in 2014. Local industry analysts project growth of 22 to 32 percent in 2015.Together these products total over 80 percent of electronic security imports to Argentina.
The segments that grew most in 2014 and in the first quarter of 2015 were equipment for the preparation of food and drinks under HS Code (843880)( Machinery For Industrial Preparation); parts for food and beverage processing equipment (HS Code 843890)(Parts of machinery for industrial preparation); and machines for cleaning, sorting or grading seed, grain or dried leguminous vegetables (HS Code 8437)
Demand for imported goods is evenly distributed between large digging, leveling, scraping, excavating, quarrying and earth moving equipment (HS 8430), and equipment for sorting, screening, separating, washing, crushing, and grinding (HS 8474). Furthermore, high tech equipment, such as GPS, radars, and Wi-Fi data transmission systems are also in demand.
Argentina imported engineering products worth USD 8,335,145 Thousand from the world in the year 2016 with India having 0.6% share i.e. USD 48,370 Thousand.
Major Engineering products exported to Argentina from India are air or vaccum pumps, machinery, plant and laboratory equipment, taps, valves, balls and roller bearings, machinery for working rubber or plastics, transmission shafts, pumps for liquids, electrical ignition, electrical apparatus for switching, electric motors, electric insulators etc.
Healthcare & Pharmaceuticals
Argentina is the fourth-largest pharmaceutical market in Latin America, behind Brazil, Mexico and Venezuela. Argentina's pharmaceutical market is expected to grow to US$15 billion by 2020.
By 2018, total pharmaceutical sales are expected to reach $6.9 billion. Imports dominate the Argentine medical equipment and device market; they traditionally account for around 70 percent of the total market.
In 2014, The Argentinean government decided to allow finished pharmaceutical exports from Indian drug makers. Up until now, Argentina, which currently houses a $6-billion drug market, had only permitted imports of raw materials, not finished pharmaceuticals, from Indian firms due to local regulations. India ships almost $15 billion in drugs overseas each year, but only eight percent of that is to Latin American countries.
Argentina imported pharmaceuticals worth USD 2,157,321 Thousand from the world in the year 2016 with India having 1.4% share i.e. USD 30,876 Thousand. Trade potential of India is USD 2,126,445 Thousand.
Import of medical equipment's by Argentina is USD 1,586,456 Thousand with India having share of 0.7% in the year 2016.Trade potential of India is USD 1,576,141 Thousand.
India pharmaceutical and healthcare exports to Argentina in the year 2015 were medicaments, human blood, medicaments consist of mixed and unmixed products, instruments and appliances used in medical , surgical, dental or veterinary sciences, orthopedic appliances,
Plastic & Rubber
The Argentinean Plastic Industry is of great importance worldwide in 1997, when it had the 11th place in per capita consumption of plastics with 30 kg/year, making it the first plastic consuming country in Latin America. In 2010, the per capita consumption of plastic was of 43 kg/year.
In Argentina there are around 2750 plastic manufacturing companies, which employee 35.000 workers. This sector is mainly constituted of small and medium companies; only 2% of these have more than 200 employees.
Argentine imports of plastic and plastic goods, unlike exports have shown a very high growth in the period 2006/2010, showing an increase of 49% in the volume imported, moving from imported worth just over U.S. $ CIF 1.627 million to more than $ 2,428 million CIF.
Plastics are 6th most imported product of Argentina with its import value USD 2,219,387 Thousand in the year 2016 with India having its export value as USD 14,981Thousand. Whereas, Rubber is 11th largest with import value of USD 967,011 Thousand with India having its value as USD 13,778 Thousand.
Major plastic and rubber exported to Argentina by India in the year 2015 were new pneumatic tyres, plates, sheets, film, foil, strip, polyacetals, conveyor or transmission belts, polymers of ethylene, articles of vulcanized rubber, hygiene or pharmaceutical articles, polymers of propylene, acrylic polymers, articles of packaging of goods, articles of plastics, synthetic rubber tableware and kitchenware.
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