Argentine sales to Brazil increased in June 2022 by 38.2% compared to June 2021 by adding US$1,345 million and continuing the positive trend of previous months, while imports from that destination were for US$1,593 million and showed a year-on-year increase of 55.1%.
Thus, the trade balance for Argentina showed a deficit, for the sixth consecutive month, of US$248 million.a situation not observed since 2018, the last period with more than six months of the year with a trade deficit (there were eleven consecutive months that showed a negative bilateral balance).
Trade between the two countries accumulates in the first six months of the year a negative balance for Argentina of US$1,344 million due to the fact that exports grew 17.6% in 2022 compared to the first six months of 2021, while exports Imports from Brazil increased by 33.3% in the same period.
The year-on-year increase in exports from Argentina to Brazil registered in June (38.2%) corresponded mainly to the increase in passenger motor vehicles, unmilled wheat and rye, motor vehicles for the transport of merchandise and special uses, vehicle parts and accessories automobiles and piston engines and their parts, while the year-on-year increase in Argentine imports (55.1%) was explained mainly by petroleum fuel oils and bituminous minerals, passenger motor vehicles, iron ore and its concentrates and parts and motor vehicle accessories.
providers
Argentina ranked third among the largest suppliers in Brazilbehind China and Hong Kong and Macao (US$ 4,691 million), the United States (US$ 4,362 million), In turn, among the main buyers of Brazil, Argentina ranked third, behind China, Hong Kong and Macao (US$9,386 million) and the United States (US$4,034 million).
Brazil’s exports to the world increased by 15.6% in June 2022 compared to the same month in 2021, going from US$28,258 million to US$32,675 million. For its part, total imports grew by 33.7% compared to those registered a year ago (US$17,843 million in 2021 vs. US$23,861 million this year). Thus, the Brazilian trade result was in surplus —for the fifth consecutive month— by US$8,814 million, a situation similar to that observed in June 2021, although with a lower nominal value: in 2021 the positive balance had been US$ 10,415 million.
The market expectations that the Central Bank of Brazil revealed in June improved compared to the previous month in terms of expected growth for 2022 (1.59% against 1.42%). Also, the expectation of price increases decreased to 7.67%, from 8.50% annually in the previous month. Likewise, they expect the level of the Selic interest rate to reach 13.75% (it currently stands at 13.25%) to contain the advance of inflation.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
