This study analyses how far the strong expansion of Argentine exports since 2003 has been due simply to favourable external conditions and how industrial manufactures have behaved. It finds that the country’s pattern of international specialization has not greatly altered at the major category level, but that both primary products and manufactures of agricultural origin, which account for much of the trade surplus, have undergone significant changes in composition. In addition, regional trade has consolidated and traditional partners such as the European Union and the United States have been displaced to some extent by China. Industrial manufactures have continued to suffer from a strong comparative disadvantage, but certain high-technology industrial sectors, such as agricultural machinery and pumps and compressors, have started to become competitive, while seamless oil and gas tubing is already highly competitive>>ClickHere>>>