The exchange grew by 9.9% compared to last September, due to the increase in imports by 8.5% and exports by 11.6%.
According to the data from the latest bilateral trade report prepared by the Argentine Chamber of Commerce and Services (CAC), he bilateral trade between Argentina and Brazil was US$2,357 million in the tenth month of the year, 4.6% lower than the value obtained in the same period of 2022, when it had been US$2,470 million. Likewise, the exchange grew by 9.9% compared to last September, due to the rise in imports by 8.5% and exports by 11.6%.
Argentine sales to Brazil They fell 6% in October 2023 compared to October 2022 (seventh consecutive month of decline) when adding US$1099 million, while imports from that destination were US$1,259 million and showed a year-on-year decrease of 3.3%. Thus, the trade balance For Argentina it showed a deficit of US$160 million (tenth consecutive month).
He trade between both countries accumulates in the first ten months of the year a negative balance for Argentina for US$4,810 million. It is worth noting that exports decreased 6.6% between January and October 2023 compared to the ten months of 2022, while imports from Brazil increased 13.5% in the same period.
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Foreign trade: fewer exports to Brazil compared to 2022
The year-on-year drop in Argentine exports to Brazil recorded in October (6%) corresponded mainly to the decrease in motor vehicles for the transportation of merchandise, unground wheat and rye and milk, milk cream and dairy products, while the interannual decrease in Argentine imports (3.3%) It was mainly explained by the decline in passenger motor vehicles, piston engines, parts and accessories of motor vehicles and iron ores and their concentrates.
Argentina was positioned in third place among the largest suppliers to Brazilbehind China, Hong Kong and Macao (US$4,542 million) and the United States (US$3,456 million). In turn, among the main buyers of Brazil, Argentina was ranked fourth, behind China, Hong Kong and Macao (US$8,973 million), the United States (US$3,346 million) and the Netherlands (US$1,261 million).
The Brazil’s exports to the world increased by 9.8% in October 2023 compared to the same month of 2022, going from US$ 26,852 million to US$ 29,483 million. For their part, total imports fell 12.6% compared to those registered a year ago (US$ 23,477 million in 2022 vs. US$ 20,525 million this year). In this way, the Brazilian trade result was in surplus—for the twenty-first consecutive month—at US$8,958 million, a situation similar to that observed in October 2022: in that month the balance had been positive at US$3,375 million.
The market expectations revealed in October by Central Bank of Brazil showed a drop compared to the previous month in growth matter estimated for 2023(2.89% versus 2.92%). The expectation for the annual price increase decreased slightly, going to 4.63% from 4.86% the previous month. Likewise, the Selic interest rate level is expected to be 11.75%, lower than the current value of 12.75%.
Source: Ambito
