Argentina/Brazil bilateral trade continues to fall, contracting 19,5% in September

Argentina/Brazil bilateral trade continues to fall, contracting 19,5% in September

Trade between Argentina and Brazil reached US$ 2.1 billion in September, marking a 19.5% decline compared to the US$ 2.66 billion recorded in the same month last year. This fact was brought to attention in a report by Argentina’s Chamber of Commerce and Services (CAC), which used official data from Brazil.

The CAC report also warned that trade in September decreased by 16.6% compared to the previous August, attributed to a 19% drop in Argentine imports and a 13% decrease in exports.

Argentine sales to Brazil fell by 18.5% in September 2023 compared to the same month the previous year, marking the sixth consecutive month of decline and totaling US$ 984 million. Meanwhile, imports from Brazil to Argentina amounted to US$ 1.16 billion, showing a 20.3% annual decrease.

As a result, Argentina’s trade balance reported a deficit for the ninth consecutive month, standing at US$176 million. Trade between the two countries accumulated a negative balance of US$ 4.65 billion for Argentina in the first nine months of the year.

The CAC noted that exports decreased by 6.7% between January and September 2023 compared to the same period in 2022, while Brazilian imports increased by 15.4% during the same timeframe.

Despite being the leading trading partner, Argentina ranked fifth among Brazil’s largest suppliers, following China, Hong Kong, Macau, the United States, Russia, and Germany.

Conversely, according to data collected by the CAC from Brazilian government agencies, Argentina ranked fifth among Brazil’s top buyers, trailing China, Hong Kong, Macau, and the United States.