Argentina

 

Location: South America

Flag of ArgentinaLocation of Argentina

Population: 42,192,000 est. 2012

Language(s): Spanish (official) Italian, English

Currency:  Argentine Peso (ARS)

GDP:  $709.7B (2011 est)

Imports Duties are subject to duty based on CIF.

Top Import Commodities:

  • Machinery, Agricultural Equipment, Mining Equipment
  • Motor vehicles
  • Medical
  • Energy Generation / renewable energy
  • Security Equipment

Other Information:

Argentina is a strong economy. The United States is their 3rd largest trading partner. Its population is the 4th largest in the region. They are the 2nd largest economy in South America (following Brazil). Historically we have maintained a trade surplus with Argentina.

One of the obstacles in exporting to Argentina is its high duty rates. From an import perspective products arriving from Mercosur countries have preferential duty treatment, thereby making your competitive products more cost advantageous.

Other than the tariff for imports based on the cost insurance and freight (CIF), there are the following additional taxes and fees:

  • 1.5% gross income tax
  • 3% on all retail products (B2B)
  • 11% on all retail goods for personal use (B2C)
  • 10.5% or 21% Value Added Tax (VAT) depending on the commodity

Your Argentinian consignee will be able to deduct the VAT and profit tax from their gross income.