Trade between Argentina and Brazil reached $2468 million in November 2024, representing an increase of 27,9% Compared to the same month in 2023, when the exchange was USD 1930 million. This increase consolidates the third consecutive month of growth in bilateral trade, says the latest report from the Argentine Chamber of Commerce and Services (CAC).
However, the CAC indicates that the Exchange rate fell by 17,2% compared to October 2024, due to the contraction of Argentine exports by 16,6% and imports by 17,8%.
Exports and imports
sales Argentines to Brazil grew in November by 24,8% year-on-year, totaling USD 1194 million and registering a positive variation for the sixth consecutive month. On the other hand, the imports from Brazil reached USD 1275 million, which implied an interannual increase of 30,9%. Thus, Argentina's trade balance resulted in a deficit of US$81 million.
So far in 2024 (January-November), bilateral trade has accumulated a negative balance for Argentina of $256 millionDuring this period, Argentine exports to Brazil increased by 11,1% compared to the same period in 2023, while imports from Brazil fell by 20,7%.
Main exchange products
The increase in Argentine exports in November was mainly due to:
- Uncrushed wheat and rye,
- Motor vehicles for transporting goods and special uses,
- Passenger motor vehicles,
- Motor vehicle parts and accessories,
- Propane and liquefied butane.
For its part, the increase in the Argentine imports from Brazil was driven by:
- Passenger motor vehicles,
- Motor vehicles for the transport of goods,
- Piston engines and their parts,
- Road vehicles,
- Motor vehicle parts and accessories.
Argentina's position in Brazilian trade
Argentina was ranked in the third place Among Brazil's main suppliers, Argentina was ranked second behind China, Hong Kong and Macao (US$ 5513 million) and the United States (US$ 3046 million). As for Brazil's main buyers, Argentina ranked third. fourth place, preceded by: China, Hong Kong and Macao (US$ 6082 million), United States (US$ 3644 million), Netherlands (US$ 1301 million).
Brazilian trade context
At a global level, Brazilian exports grew by 0,5% year-on-year in November, from USD 27.886 billion in 2023 to USD 28.021 billion this year. Imports also registered an increase of 9,9%, from USD 19.097 billion to USD 20.991 billion. Thus, Brazil's trade balance was in surplus in XNUMX. $7030 million, recording its thirty-fourth consecutive month of positive results.
In November 2023, the surplus had been larger, reaching USD 8789 million.
Market expectations, surveyed in November by the Central Bank of Brazil, reflected an increase in economic growth projections for 2024, from 3,1% to 3,22%. There was also an increase in annual inflation expectations, which rose to 4,71% (compared to 4,59% the previous month).
The Selic interest rate is also expected to reach 11,75%, exceeding the current value of 11,25%.
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