Agricultural products account for 92% of the import value from Argentina

On July 3, the Argentine Embassy in Vietnam held a press meeting in Ho Chi Minh City and organized the seminar "Argentina - Vietnam Business Opportunities" on the occasion of a working visit by a delegation of Argentine officials and economic and trade representatives.

Speaking at the "Argentina - Vietnam Business Opportunities" seminar, H.E. Mr. Marcos A. Bednarski, Ambassador Extraordinary and Plenipotentiary of the Argentine Republic to Vietnam, stated that bilateral trade is growing strongly. In the first five months of this year, Vietnam’s exports to Argentina increased by 243.6% compared to the same period in 2024. Some products recorded exponential growth: mobile phones and components rose by 636%, while footwear increased by 146%.

According to statistics from Vietnam Customs, in the first five months of the year, Argentina’s exports to Vietnam increased by 30.84% from January to May 2025, and total bilateral trade grew by 67.1%.

Mr. Tran Ngoc Liem, Director of VCCI - Ho Chi Minh City, stated that Argentina is currently Vietnam’s third-largest trading partner in the Latin American region. Vietnam has consistently run a trade deficit with Argentina in recent years. Conversely, Vietnam is Argentina’s seventh-largest trading partner, after Brazil, China, the United States, Chile, India, and Paraguay.

In 2024, the total bilateral trade turnover between Vietnam and Argentina reached USD 4.1 billion, a 19% increase compared to 2023. Of this, Vietnam exported USD 520 million to Argentina, a decrease of 46.7%, while imports from Argentina reached USD 3.58 billion, an increase of 45%.

In just the first four months of 2025, bilateral trade turnover reached USD 1.48 billion, up 67% compared to the same period in 2024. Vietnam’s exports reached USD 357 million (up 316%), and imports from Argentina reached USD 1.12 billion (up 40%).

Vietnam’s main exports to Argentina include various types of phones and components, computers, electronic products and parts, various types of footwear, machinery, equipment, tools and spare parts, and raw materials for textiles, garments, and leather footwear.

Meanwhile, Vietnam’s main imports from Argentina consist of corn, animal feed and raw materials, various types of cotton, soybeans, and animal and vegetable oils and fats. Agricultural products account for 92% of the total value of Vietnam's imports from Argentina. Argentina is currently one of Vietnam’s leading suppliers of corn and animal feed.

Mr. Liem emphasized that both sides are actively promoting the launch of negotiations for the Vietnam—MERCOSUR Free Trade Agreement (FTA) and efforts to open their markets to each other’s key products. The signing of this FTA would mark a breakthrough in trade relations, helping to boost the exchange of goods and investment between Vietnam and MERCOSUR countries, especially Argentina.