Bilateral trade between Argentina and Brazil registered In May, a total amount of US$ 846 million, 55,6% lower compared to the same month of the previous year, meaning that trade between the two countries has accumulated 21 consecutive months of year-on-year declines and marked the lowest record since 2004.
This is evident from data published by the Ministry of Development, Industry and Foreign Trade of Brazil, and reported by the Argentine Chamber of Commerce.
In terms of the year-to-date, in the period January-May, the trade flow between both economies fell by 27,7% to US$6.353 billion, while Argentina's trade balance reversed course, showing a slight deficit of US$6 million compared to the surplus of US$171 million in the same period in 2019.
The May exchange reflected the year-on-year decrease in both Argentine exports to Brazil (55,6%) which totaled US$ 397 million, as of Imports from that destination (55,6%) which reached US$ 449 million.
The trade balance of this exchange showed a deficit of US$ 52 million for Argentina, after two consecutive months of surplus.
The drop in Argentina's exports corresponded to cargo vehicles, passenger motor vehicles, auto parts and whole malt, while the decline in imports was mainly explained by passenger motor vehicles, auto parts, iron ore and freight vehicles.
In relation to destinations, Argentina was ranked fourth among the largest suppliers to Brazil, behind China, Hong Kong and Macao (US$2.539 billion), the United States (US$1.555 billion) and Germany (US$613 million).
At the same time, Among the main buyers of Brazil, Argentina also ranked fourth, behind China, Hong Kong and Macao (US$ 7.239 million), the United States (US$ 1.579 million) and the Netherlands (US$ 821 million).
The 27,7% drop in trade so far this year, reaching US$ 6.353 billion, This is due to the decline in Argentine exports to Brazil (29,1%), which exceeded the drop in Argentine imports from Brazil (26,2%) in the same period.
Source: Telam
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