In 2023, the US exported $6.134 million worth of wearing apparel to Argentina. Over recent years, there have been noticeable fluctuations in export values. Key variations reveal a decrease in 2020 (-14.49%) followed by an upswing in 2021 (23.94%) and moderate rises in 2022 (2.74%) and 2023 (2.61%). The compound annual growth rate (CAGR) for the past 5 years was 4.77%.
Future projections show a steady increase in export values, with forecasts reaching $6.9494 million by 2028. The forecasted CAGR for the next 5 years stands at 1.96%, indicating a modest average annual growth.
Future trends to watch for:
- Economic and political stability in both the US and Argentina impacting trade relations.
- Shifts in consumer preferences and demand for US wearing apparel in Argentina.
- Tariff and trade policy changes that could influence export dynamics.
- Impact of inflation and currency exchange rates on trade value and volume.