Argentina’s Economy Minister, Luis Caputo, declared on Wednesday that the government will abolish export duties on more than 4,000 industrial products to boost the sector’s global competitiveness.
In a post on X, Caputo emphasized that the initiative is to enhance the competitiveness of local industries while boosting exports.
“The National Government will remove export duties on 88% of industrial products. From now on, 4,411 products will no longer have to pay export taxes ranging from 3% to 4.5% of the merchandise value,” he detailed.
Caputo noted that removing export duties of around 3 to 4.5 % on 4,411 products will initially support 3,580 companies, representing nearly 40% of Argentina’s exporters. Through a decree to be published in the Official Gazette in the coming days, the national government will eliminate export taxes on manufactured products.
The move directly addresses demands from various sectors within the Unión Industrial Argentina (UIA), which recently called for measures to support small and medium-sized enterprises (PyMEs), particularly to expand exports. However, industries such as iron, steel, aluminum, petrochemicals, and automotive will remain subject to export taxes.
Last year, exports of these products totaled $3.804 billion, encompassing items such as agricultural and industrial machinery, optical goods, glassware, auto parts, timepieces, pharmaceutical items, cables, and insecticides. Furthermore, high-value products like cosmetics, pumps, plastics, metals, and others contributed to the total.
In January, the Industry and Commerce Department of the Economy Ministry removed export duties on agro-industrial activities within regional economies and their value chains, including cotton, paper, cardboard, food, and beverages. It also reduced export taxes on key agricultural products.
Caputo asserted that export duties undermine the competitiveness of Argentine companies in international markets and act as a disincentive for them to export.
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