Meanwhile, he indicated that Bilateral trade between Argentina and Brazil was US$2,885 million in August, 36% higher than the value obtained in the same period in 2021, when it had been US$2,122 million. Likewise, the CAC highlighted that the exchange grew by 19.2% compared to last July, due to the strong increase of 28.3% in exports and a rise of 12.6% in imports.
In this context, he explained that Argentine sales to Brazil increased by 31.1% in August 2022 compared to the same month in 2021, totaling US$1,315 million and continuing the positive trend of the previous monthswhile imports from that destination were for US$1.57 billion and showed a year-on-year increase of 40.4%.
According to the entity, the year-on-year increase in exports from Argentina to Brazil registered in August, of 31.1%, corresponded mainly the rise of motor vehicles for the transport of merchandise and special uses; unmilled wheat and rye; passenger motor vehicles, milk, milk cream and dairy products and piston engines.
While the year-on-year increase in Argentine imports, which was 40.4%, it was mainly explained by passenger motor vehicles; motor vehicle parts and accessories; flat rolled iron products; civil engineering installations and equipment and piston engines.
“Argentina ranked third among the largest suppliers to Brazil, behind China and Hong Kong and Macao (US$6,447 million), the United States (US$5,080 million). In turn, among the main buyers from Brazil, Argentina ranked third, behind China, Hong Kong and Macao (US$7,982 million) and the United States (US$3,571 million)”, detailed the CAC.
In another order, he stated that Brazil’s exports to the world increased by 13.3% in August 2022 compared to the same month in 2021, going from US$27,216 million to US$30,840 million.
Meanwhile, he detailed that total imports grew by 36.4% compared to those registered a year ago (US$19,557 million in 2021 against US$26,675 million this year).
“Thus, the Brazilian trade result was in surplus —for the seventh consecutive month— at US$4,164 million, a situation similar to that observed in August 2021, although with a lower nominal value: in 2021 the positive balance had been US$7,659 million.”, highlighted the entity.
In addition, he pointed out that the market expectations that the Central Bank of Brazil revealed in August improved compared to the previous month in terms of expected growth for 2022 (2.26% against 1.97%). Also, the expectation of price increases decreased to 6.61%, from 7.11% annually in the previous month.
And he concluded by stating that “they expect the Selic interest rate level to remain at the current 13.75% to continue containing the advance of inflation.”
Source: Ambito
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