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Trade exchange with Brazil fell 28.1% in May, but Argentina had a surplus for the third month in a row

Trade exchange with Brazil fell 28.1% in May, but Argentina had a surplus for the third month in a row

The Argentine Chamber of Commerce and Services (CAC) highlighted that bilateral trade between Argentina and Brazil was US$2,214 million in the fifth month of the year, 28.1% lower than the value obtained in the same period of 2023. when it had been US$3,077 million.

According to the data from the latest bilateral trade report prepared by the Argentine Chamber of Commerce and Services (CAC), Bilateral trade between Argentina and Brazil was US$2,214 million in May28.1% lower than the value obtained in the same period of 2023, when it had been US$ 3,077 million.

On the other hand, the exchange decreased with respect to April (-4.4%), “due to the slight drop in imports of 0.4% and the sharp drop in exports of 8.0%”indicated a CACA report.

The Argentine sales to Brazil fell 3.9% in May 2024 compared to May 2023 (the variation returned to the negative sign, after March and April 2024 with the opposite sign) by adding US$1,119 million, while lImports from that destination were US$1,095 million and showed a year-on-year decrease of 42.7%. So, The trade balance for Argentina showed a surplus of US$23 million.

Trade between both countries accumulates a positive balance for Argentina in the first five months of the year for US$58 million. It is worth noting that exports increased 1.2% in the first five months of 2024 compared to that same period in 2023, while imports from Brazil decreased by 33.1% in said months,” the same report indicated.

According to CACthe year-on-year decline in exports from Argentina to Brazil registered in May (3.9%) corresponded mainly to “the derecognition of 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 decline in imports Argentina (42.7%) was mainly explained by “the derecognition of soybeans, parts and accessories of motor vehicles, passenger motor vehicles and petroleum fuel oil or bituminous minerals (except crude oil).”

Argentina positioned itself in fourth place among the largest suppliers to Brazil, behind China and Hong Kong and Macau (US$4,576 million), the United States (US$3,814 million) and Germany (US$1,202 million). In turn, among the main buyers of Brazil, Argentina was ranked fourth, behind China, Hong Kong and Macau (US$9.69 billion), the United States (US$3.3 billion) and Spain (US$1.508 billion). ).

Brazil’s exports to the world decreased 7.1% in May 2024 compared to the same month in 2023, going from US$32,666 million to US$30,338 million. For their part, total imports increased by 0.5% compared to those registered a year ago (US$21,688 million in 2023 vs. US$21,804 million this year). Thus, The Brazilian trade result was a surplus—for the twenty-eighth consecutive month—at US$8,534 milliona situation similar to that observed in May 2023: in that month the balance had been positive at US$10,978 million.

Source: Ambito

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