Argentina eliminates export duties on industrial products

The Argentine government announced this week the elimination of export duties on most of its industrial products, a measure aimed at improving the competitiveness of the manufacturing sector.

"The national government will eliminate export duties on 88% of industrial products. From now on, 4,411 products will not have to pay withholding taxes ranging from 3% to 4.5% on the value of the merchandise," Argentine Economy Minister Luis Caputo announced on social media. The measure will take effect once it is published in the Official Gazette.

According to Caputo, the elimination of export taxes on manufactured products "will make local industry more competitive and boost exports."

The measure will initially benefit 3,580 companies , almost 40% of those exporting to Argentina.

In 2024, the value of exports of these products totaled $3.804 billion.

These products include high value-added goods , such as cosmetics, engine parts, and auto parts, such as pumps, valves, or gears, plastics, and metals, among others.

According to Caputo, export duties "affected the competitiveness" of Argentine companies "abroad and discouraged them from exporting."

"With this measure, the industry will be virtually exempt from paying these taxes, with the exception of some widespread basic input sectors such as iron, steel, aluminum, the petrochemical industry, and the automotive industry," he added.