Argentina to witness record mining exports by the end of 2023

Argentina to witness record mining exports by the end of 2023

 Argentina is a valuable market for the global exporters as it has rich reserves of mineral fuels & oils. Argentina encompasses the rich deposits of iron, lithium, lead, uranium, copper, zinc, tungsten and manganese. Argentina import export data reports shows that the country's mining exports could reach $4.2 billion exports by the end of 2023. In comparison to last year's $3.5 billion exports, there is a strong increase in the mining exports of the country.

Argentina is the fourth leading market for lithium exportsLithium was the top gainer in Argentina's overall mining exports. As the global importers are keen on making more electric vehicles, the demand for lithium for batteries and other equipment requirements has increased significantly. According to the Argentina export data, lithium exports are around $1.2 billion this year. The exports were mostly to China and Japan accounting for over 30% share each. 


Whereas, the United States and South Korea were other major markets for Argentina lithium exports. Over 90+ lithium projects are operating over Argentina. The United States and European countries are investing heavily in Argentina's lithium share in order to access the South American minerals reserves. 


The leading Chinese companies are looking to make the most out of Argentina lithium reserves. As there is a hurdle to become the leading EV market in the world, companies are chasing the lithium rich countries in order to manufacture more EV batteries and parts. Argentina’s lithium may skyrocket in the near future. Along with Argentina, Bolivia and Chile are other potential lithium producing markets.


Apart from lithium, copper is another significant mineral export from Argentina. Argentina is among the list of top 20 copper exporters in the world. According to Argentina customs data reports, the copper exports from Argentina reached over $3 million during FY 2022. Bolivia and Chile were the most prominent markets for Argentina's copper exports. There are lots of ongoing copper projects in Argentina which are expected to extract over $10 billion exports of copper.


Also, Argentina has some hefty amounts of gold and silver reserves. Argentina produces over 36 metric tonnes of gold every year. The global import export data suggests that Argentina’s gold exports were nearly $2 billion last fiscal year. Switzerland, India, Canda, Germany and the United States are some of the leading markets for Argentina's gold exports.


On the other hand, Argentina had exported over $200 worth of silver ores and concentrates in the past year. The major markets for Argentina's silver exports were the Netherlands, South Korea, Japan, Germany and Bulgaria. The experts see that Argentina’s mineral exports could hit $4 billion this year if the exports increase at this rate.


Argentina import export business owners can use expert market intelligence offered by Exim Trade Data, a reliable global import export data provider company. Their economical market research tool helps companies spot opportunities, market demand, and highlights key performance indicators for business. Their latest Argentina import data, importers data, exporters data and global companies database could help you increase your sales & revenue.

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