The latest bilateral trade report prepared by the Argentine Chamber of Commerce and Services (CAC) showed that bilateral trade between Argentina and Brazil in July reached $2368 million.
This figure represents a year-on-year decrease of 9,5% compared to the same period in 2023. Likewise, trade increased compared to last June (+20,3%), due to the rise in imports by 21,6% and the increase in exports by 19%.
Argentine sales to Brazil grew in July 2024 un 20% compared to July 2023 (the variation was positive for the second consecutive month) by adding US$ 1201 million, while the imports from that destination fwere US$ 1167 million and showed a year-on-year decrease of 27,8%. Thus, with its renewed presence, the trade balance for Argentina showed a surplus of USD 34 million.
First semester
The work maintains that trade between both countries accumulates in the first six months of the year a positive balance for Argentina of US$ 141 million. It is worth noting that exports increased by 5% in the first seven months of 2024 compared to seven months of 2023, while imports from Brazil decreased by 35,4% in the same period.
The year-on-year increase in Argentina's exports to Brazil recorded in July (20%), the second largest increase so far this year (April recorded 36,7%), was mainly due to the increase in uncrushed wheat and rye, motor vehicles for the transport of goods and special uses, ethylene polymers in primary form, passenger motor vehicles and milk, cream and derivatives, while the year-on-year decrease in Argentine imports (27,8%) was mainly explained by the decrease in soybeans, parts and accessories for motor vehicles, electric energy, petroleum fuel oils and bituminous minerals and semi-finished products, ingots and other primary forms of iron or steel.
Argentina positioned itself in fourth place Among the largest suppliers to Brazil, behind China and Hong Kong and Macao (USD 5531 million), the United States (USD 3619 million), Germany (USD 1208 million) and Russia (USD 1128 million). In turn, among the main buyers of Brazil, Argentina was ranked third, behind China, Hong Kong and Macao (USD 10.115 million), the United States (USD 3552 million) and the Netherlands (USD 1167 million).
Brazilian trade
Regarding the Brazil's exports to the world increased by 9,3% In July 2024, the Brazilian economy grew by 2023% compared to the same month in 28.300, from USD 30.919 billion to USD 15,7 billion. Total imports, meanwhile, increased by 20.121% compared to those recorded a year ago (USD 2023 billion in 23.279 vs. USD 7640 billion this year). Thus, the Brazilian trade result was in surplus — for the thirtieth consecutive month — at USD 2023 billion, a situation similar to that observed in July 8179: in that month the balance had been positive at USD XNUMX billion.
The market expectations released by the Central Bank of Brazil in July showed higher figures compared to the previous month in terms of estimated growth for 2024 (increased from 2,1% to 2,2%).
The expectation for annual price increases rose to 4,12% (the previous month it had been 4,02%). The Selic interest rate is also expected to remain at 10,5% (identical to the current value).
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