China overtakes Brazil to become Argentina’s main trading partner

According to the Argentine Republic Chamber of Exporters (CERA), China was Argentina’s main trading partner in April, accounting for 11.7% of total sales and 14.1% of imports, replacing Brazil.  Trade between Argentina and Brazil fell 44.7% in April, the biggest decline since February 2009, according to data published last week by the Argentine Ministry of Economy.

The recent collapse of trade relations with Brazil has favored China’s rise as the main partner. Even so, Argentina purchased US$61 million less in April (reaching US$411 million) than March, and 40.3% less than April of last year. Meanwhile, Argentine exports to China totaled US$509 million in April and increased by 50.6% compared to the previous year. Among the main items exported to China were soybeans (52% of total sales); frozen and boned meat (29%); shrimp (8%); animal or vegetable fats, and oils (6%).

During the first quarter, Argentine exports to China totaled US$1.211 billion (an increase of 4.4% compared to the previous year), while imports added up to US$2.841 million (4.7% more). Thus, the trade deficit with China was reduced to US$1.502 billion in January-April of this year, when compared to US$1.682 billion in the same period of 2019.

Sources: Telam Agency and Comex do Brasil

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