According to a report by Argentina's *El Financiero* newspaper, data released by Argentina's National Institute of Statistics and Censuses (Indec) shows that bilateral trade between China and Argentina reached US$3.109 billion in September, marking the first time in nearly three years that China has surpassed Brazil to become Argentina's largest trading partner. Imports from China accounted for 25.2% of Argentina's total imports, while exports to China accounted for 15.9% of its total exports.
The report states that due to the temporary removal of export reserves for agricultural products, Argentina's exports surged by 201.7% year-on-year in September, particularly soybean exports to China. Furthermore, imports from China increased by 31.3% year-on-year due to the duty-free import quota for new energy vehicles. However, at the same time, Argentina's automobile exports to Brazil declined, leading to a continued widening of the trade deficit in automobiles, increasing from US$338 million to US$818 million. The report specifically points out that although the United States is Argentina's third-largest trading partner after China and Brazil, Sino-Argentine trade is more complementary, while US-Argentine trade involves homogeneous competition.
