Australia is one of the largest consumer markets in the world (18th world importer). Despite one may regard Australia as a competitive market of Argentina rather than a complementary one, this may mislead the fact that there are many sectors with a great export potential, as in the primary sector as manufactures and services. Many of these sectors have already entered into the Australian market, but many others haven´t yet.
Argentine exports to Australia in 2011 were USD 572 million, while the imports from Australia were USD 396 million, totalizing a bilateral trade of usd 968 million. This represents a geowth of 68% from 2010. Argentina had a trade surplus of USD 175 million.
The main goods that Argentina exported to Australia in 2010 were: Animal feed, sunflower oil, leather, passenger vehicles, herbicides, fish, natural honey, steel sheets and tubes, chocolates, citric juices, chemical products, soy oil, tomatoes, agricultural machinery, dried fruits and vegetables, and plastic tubes and accessories. These goods show both that despite the fact that the economies are competitive in agriculture and food doesn´t impede exports of this kind and, even more so, may generate complementary activities and joint ventures of both countries companies. Moreover, it can be observed that there are opportunities for industrial manufactures growth as well.
Among the goods that Australia imports in great amounts, and that Argentina exports in a competitive way, are worth to mention: Organic products, pumps, automotive spare parts, pneumatics and medicines. There is also space for growth in sectors such as: organic chemists, iron, steel and aluminium structures and sheets, iron and steel tubes, paper and cardboard, plastic articles and medical instruments, among others.