Brazil leads again as Argentina’s top trading partner in AugustSep, 30, 2020 Posted by Ruth Hollard
In August, Brazil returned to being Argentina’s main trading partner, both in exports and imports, surpassing China, which until July held this position. According to data from the National Institute of Statistics and Censuses (INDEC), an Argentine agency linked to the Ministry of Economy and Public Finance, Brazilian exports to the neighboring country totaled US$ 777 million during the month, against US$ 604 million exported by Chinese. The United States, Vietnam, Chile, Paraguay, India, and Germany were also among Argentina’s eight largest trading partners last month.
INDEC data also show sharp declines in Argentine exports and imports in relation to Brazil and China. In relation to Brazil, Argentine exports contracted 24.2%, down to US$ 646 million, while imports of Brazilian products decreased by 16.0%, down to US$ 777 million. The Argentine-Brazilian trade flow, totaling US$ 1.423 billion, resulted in a trade surplus for Brazil of US$ 131 million in the month of August.
In relation to China, Argentine exports decreased by 10.8%, down to a total of US$ 604 million, while imports fell 16.4% down to US$ 738 million. Regarding imports, the INDEC statistics for the eight largest Argentine trading partners indicate increases only in purchases made from Chile (+ 36.6%, up to US$ 56 million) and Paraguay (+ 91.8%, up to US$ 186 million ). Significant declines were registered in imports from the United States (-31.5%, down to US $ 353 million), Vietnam (-12.5%, down to US$ 77 million), India (-36.4%, down to US$ 49 million), and Germany (-33.8%, down to US$ 133 million).
INDEC data also reveals that Argentina’s three main trading partners – Brazil, China, and the United States – together received 32.1% of total Argentine exports and accounted for 53.3% of imports made by the country in the month of August.
Source: Comex do Brasil
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