The Argentine sales to Brazil increased in August 2022 by 31.1% compared to August 2021, adding US$1,315 million and continuing the positive trend of the previous months, while imports from that destination were US$1,570 million and showed a year-on-year increase of 40.4%. Thus, the trade balance for Argentina showed a deficit, for the eighth consecutive month, of US$ 255 million, a situation not observed since 2018, the last period with more than eight months of the year with a trade deficit (at that time there were eleven consecutive months which showed a negative bilateral balance).
Trade between the two countries accumulates in the eight months of the year a negative balance for Argentina for US$1,969 million because exports grew 18.8% in 2022 compared to eight months of 2021, while imports from Brazil increased 35% in the same period.
What is exported to Brazil?
- What is exported the most are automobiles.
- Unground wheat and rye
- Food: milk, milk cream, dairy products.
What is imported from Brazil?
- Passenger motor vehicles
- Motor vehicle parts and accessories
- Flat Iron Products
- Civil engineering installations and equipment.
What place does Argentina occupy for Brazil?
Argentina ranked third among Brazil’s largest suppliers, behind China and Hong Kong and Macao (US$6,447 million), and the United States (US$5,080 million). In turn, among the main buyers of Brazil, Argentina ranked third, behind China, Hong Kong and Macao (US$7,982 million) and the United States (US$3,571 million).
What is expected from the bilateral exchange?
Daniel Sciolithe Argentine ambassador to Brazil clarified his perspective for what is to come in dialogue with Ambit: “Hopefully we can advance in this great binational agreement of deep integration, financial, energy, agri-food, infrastructure, that is the great objective that many governments have in function of the globalization crisis that exists and that requires us to strengthen our region and complement each other more with Brazil”, said the ambassador, emphasizing the priority of strengthening ties with the neighboring country.
Regarding the link with Argentina, he highlighted: “He has a great personal relationship with Cristina (Fernández de Kirchner, the vice president). The harmony of the political conscience would contribute a lot to integrate with our country for the time to come and together we could grow more and be a food and energy power”.
However, he acknowledges that with the current president of Brazil, Jair Bolsonaro, “we have made great progress in energy integration, which is one of the most significant issues, as well as having returned to Brazil as the first commercial partner, investment announcements” .
Source: Ambito
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