According to data from the latest bilateral trade report prepared by the Argentine Chamber of Commerce and Services (CAC), Bilateral trade between Argentina and Brazil was USD 2214 million In the fifth month of the year, a 28,1% lower to the value obtained in the same period in 2023, when it had been US$3077 million.
Likewise, the exchange decreased compared to last April (-4,4%), "due to the slight decrease in imports by 0,4% and the sharp drop in exports by 8,0%," according to the report.
The Argentine sales to Brazil fell by 2024% in May 3,9 compared to May 2023 (the variation returned to the negative sign, after March and April 2024 with the opposite sign) totaling US$1119 million, while the imports from that destination were USD 1095 million and showed a year-on-year decrease of 42,7%. Thus, the trade balance for Argentina showed a surplus of USD 23 million.
«Trade between the two countries has accumulated a positive balance for Argentina in the first five months of the year. USD 58 million. It is worth noting that exports increased by 1,2% in the first five months of 2024 compared to the same period in 2023, while imports from Brazil decreased by 33,1% in those months," the same report indicated.
According to the CAC, the year-on-year drop in Argentine exports to Brazil recorded in May (3,9%) was mainly due to "the decrease in passenger motor vehicles, piston engines and their parts, residual petroleum products and related materials, ethylene polymers and milk, cream and dairy products", while the year-on-year drop in Argentine imports (42,7%) was mainly explained by "the decrease in soybeans, parts and accessories of motor vehicles, passenger motor vehicles and fuel oil from petroleum or bituminous minerals (except crude oil)."
Argentina positioned itself in fourth place Among Brazil's largest suppliers, Argentina ranked fourth, behind China, Hong Kong and Macao (USD 4.576 billion), the United States (USD 3.814 billion) and Germany (USD 1.202 billion). Among Brazil's largest buyers, Argentina ranked fourth, behind China, Hong Kong and Macao (USD 9690 billion), the United States (USD 3.300 billion) and Spain (USD 1.508 billion).
Brazil: trade balance and expectations
Brazil's exports to the world decreased by 7,1% in May 2024 compared to the same month in 2023, from USD 32.666 million to USD 30.338 million. Meanwhile, total imports increased by 0,5% compared to those recorded a year ago (USD 21.688 million in 2023 vs. USD 21.804 million this year).
Thus, the Brazilian trade result was surplus —for the twenty-eighth consecutive month— in $8534 million, a situation similar to that observed in May 2023: in that month the balance had been positive at USD 10.978 million.
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