Bilateral trade between Argentina and Brazil added USD 2.762 billion, representing a 27,1% year-on-year increase in March, indicated a report from the Argentine Chamber of Commerce (CAC) today (04.04.2023). Despite this, the trade balance for Argentina showed a deficit of USD393 million.
The CAC estimated that trade grew by 22,2% compared to last February, due to a 25,4% increase in exports and a 19,8% increase in imports.
"Argentine sales to Brazil increased by 2023% in March 21,7 compared to March 2022 (third consecutive month of increase) to USD 1184 million, while imports from that destination amounted to USD 1578 million and showed a year-on-year increase of 31,6%," he said.
However, he stressed that "Argentina's trade balance showed a deficit of USD 393 million."
In this regard, he pointed out that "trade between the two countries has accumulated a negative balance for Argentina of USD 999 million in the first quarter of the year."
According to the CAC, exports grew 15,2% in the first three months of 2023 compared to three months of 2022, while imports from Brazil increased 24,3% in the same period.
«The rise year-on-year of Argentina's exports to Brazil recorded in March (21,7%) corresponded mainly to the increase in motor vehicles for the transport of goods, passenger motor vehicles and piston engines, while the year-on-year increase in Argentine imports (31,6%) was explained mainly by tubes, hollow sections and accessories for tubes, of iron or steel, passenger motor vehicles and parts and accessories for motor vehicles," he explained.
According to the CAC report, Argentina ranked fourth among Brazil's largest suppliers, behind China, Hong Kong and Macao, the United States and Germany.
In turn, among the main buyers of Brazil, Argentina ranked third, behind China, Hong Kong and Macao and the United States.
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